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News and Notes on Atlanta Commercial Real Estate
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Downtown Lot Eyed for Potential Sports Museum Site
 Potential future Hall of Fame site at the corner of Centennial Olympic Park Drive and Harris Street in downtown Atlanta.
About 18 months ago, Atlanta sports and economic development circles buzzed with the possibility the city could lure away the College Hall of Fame from South Bend, Ind. Things quieted down shortly after, but the buzz is back.
Business executives and local officials are believed to be working to secure the InterPark lot at Centennial Olympic Park Drive and Harris Street as a potential site should College Football Hall of Fame executives decide to move it to Atlanta.
InterPark, a subsidiary of GE Capital Real Estate, owns the lot next to the American Cancer Society Center. The lot stretches from Centennial Olympic Park Drive to Williams Street. It is directly across the street from the park.
If the college hall relocates to the site, it would fortify the Centennial Olympic Park area as a center of tourist attractions. The InterPark lot is proximate to the Children's Museum, World of Coca-Cola and Georgia Aquarium. The National Health Museum also has said it would consider sites adjacent to the Olympic Park.
In January
2008, Atlanta Sports Council President Gary Stokan told a top executive
of the National Football Foundation and College Football Hall of Fame
that - as "the nerve center of college football" - Atlanta deserved a shot at luring the hall, according to The Atlanta Journal-Constitution. Stokan also told hall officials a site near Centennial Olympic Park would be best, according to the AJC.
Now, the InterPark lot has emerged as a favorite site of local officials.
Atlanta's standing as a center of college football has increased since the city's initial interest in wooing the hall became public. The inaugural Chick-fil-A Kickoff Game, played in late August 2008, was deemed a huge success. The second edition of the game, played Saturday, marked another sellout. Moreover, the Chick-fil-A Bowl has emerged as the top-tier bowl game outside the Bowl Championship Series.
Because of Chick-fil-A's vital role in the former Peach Bowl and new Kickoff Game, don't be surprised if the company is involved in the effort to bring the College Football Hall of Fame to its hometown.
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With Phipps Tower Taking Shape, Henry Leaves Crescent
Pat Henry, former Crescent Resources' president and Phipps TowerPat Henry, best known
in real estate circles for his 20-year stint at Trammell Crow, has left
his job as president of Crescent Resources' commercial division.
Henry left the Charlotte-based development firm last month, just as it entered the final phase of construction on Phipps Tower, a spec office building at Lenox Road and Phipps Boulevard. The 20-story tower is expected to open next spring.
"I've
got nothing but respect for the people at Crescent Resources," Henry
tells Real Estate Rooster. "It was a mutual decision."
Crescent Resources, a joint venture between Duke Energy and a Morgan Stanley Real Estate Fund, filed for bankruptcy protection in June, and that impacted Henry's decision. "It's created a number of changes in the company," Henry said.
Henry, who will catch his breath before deciding what to do next, definitely
plans to stay in commercial real estate. "I've been blessed in my 23
years in real estate, and especially in Atlanta, to have been involved
in some of the most impactful projects there are and to have worked with some of the best people in the business."
Meanwhile, Crescent appears to be close to completing its first leases at Phipps Tower. Stay tuned. |
Cousins Hosts Football-Loving Brokers at ACSC 
Walter Fish of Cousins Properties, left, personally welcomed several top-tier brokers to Cousins' brokerage function, held Sept. 3 at American Cancer Society Center in downtown Atlanta. Fish, left, is shown here with Malinda Michael, a public relations executive, and power broker Rick Lackey, who also serves as CEO of City Commercial Real Estate. The
event included tickets to the Falcons' final preseason game, and
several attendees sported red and black. Boardwalk-type games made the
already-festive mood even cheerier. Of course, Fish and other Cousins
representatives used the occasion as a low-key marketing opportunity
for the 990,000-square-foot American Cancer Society Center, formerly
known as the Inforum.
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