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News and Notes on Atlanta Commercial Real Estate
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U.S. SEC Searches for New Home in Buckhead Center
 Current SEC regional office at One Live Oak in Buckhead.Real estate investment trusts and other publicly traded companies typically don't like hearing from the U.S. Securities & Exchange Commission, but this time things might be different.Just
last week, the SEC sent out a solicitation alerting landlords it has a
requirement for 53,000 to 60,000 rentable square feet of Class A office
space in a well-defined area of Buckhead. The SEC would like to
complete a 10-year deal with occupancy no later than June 19, 2011,
according to the solicitation sent to landlords. The independent government agency currently has its regional office at One Live Oak, 3475 Lenox Road. The new space must be on contiguous floors, and the SEC prefers larger floor plates with few vertical shafts such as elevators. This requirement surely will get the attention of Cousins and Duke, two REITs that report to the SEC, as well as every other landlord with 60,000 square feet of contiguous Class A space in Buckhead. Interested landlords need to hurry. The SEC has set a response date of Sept. 23. Contact
Beverly Walker, realty specialist, U.S. Securities & Exchange
Commission, for more details: 202-551-7426 or walkerb@sec.gov.  | |
PwC Considers Move to Buckhead
Buckhead's Phipps Tower, a front-runner for PwC's new location in Atlanta
Buckhead has been the poster child of the weak Atlanta office market for the past year, but that might be about to change, thanks to a high-profile Midtown tenant. PricewaterhouseCoopers, in the market for more than 100,000 square feet, is considering a couple of the new buildings in Buckhead, including Terminus 200 and Phipps Tower, according to brokers who focus on Buckhead. For
PricewaterhouseCoopers, a move to Buckhead would be a continuation of
its march northward. The Big 4 accounting firm consolidated several
offices, including one at the Hurt Building downtown, at 10 Tenth
Street (Millennium in Midtown) in 2002. PricewaterhouseCoopers initially housed 860 workers at the building, where it leased about 110,000 square feet. PwC "briefly" considered Buckhead during that search but Midtown proved its No. 1 choice. That appears to have changed. In May, PwC hired CB Richard Ellis to represent it in its real estate needs. In Atlanta, CBRE Vice Chairman John Shlesinger leads the search. "I apologize, but I cannot comment on the transaction," Shlesinger said in a politely worded e-mail to Real Estate Rooster. |
CBRE, Alan Joel Team Up in Silverpop HQ Expansion
In a sign of teamwork somewhat unusual in the brokerage community, CB Richard Ellis and Alan Joel Partners worked together to extend and expand Silverpop System Inc.'s headquarters lease at 200 Galleria in the Northwest submarket.
Silverpop,
an e-mail marketing firm, expanded its presence at 200 Galleria to more
than 62,000 square feet. Previously, the firm had occupied 38,354
square feet in the 20-story, 438,000-square-foot tower in the Atlanta
Galleria complex in Cobb County. Silverpop signed a seven-year lease with Grubb & Ellis Realty Investors LLC, owner of 200 Galleria.
Alan
Joel, principal of Alan Joel Partners, said teaming up with sometime
competitors Sam Holmes and John Shlesinger of CB Richard Ellis worked
well. "Both firms brought unique knowledge and expertise to the table
which in turn helped the client achieve over-and-beyond its objectives
as related to their occupancy costs and real estate needs," Joel said.
Dave Smith of Alan Joel Partners also worked on the transaction.
With
the Silverpop expansion, 200 Galleria now is more than 88 percent
occupied. Grubb & Ellis Senior Vice President Sam Zelony and Senior
Associate Jessica Thurman represented Grubb & Ellis Realty
Investors in the transaction.
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Mayor Franklin to Update Developers on BeltLine
Developers
considering projects on the BeltLine probably should check out this
event. On Wednesday, the Council for Quality Growth and Atlanta
BeltLine Inc. will host a workshop that lays out the benefits of
building on the BeltLine.
Atlanta
Mayor Shirley Franklin will address the event about the latest
happenings on the BeltLine, and leaders from Atlanta BeltLine and the
Atlanta Development Authority also will update attendees. Developers
who already have experienced success along the $2.8 billion development
project also will speak.
Registration for the event starts at 7:30 a.m. Wednesday at Trees Atlanta headquarters at 225 Chester Ave., Atlanta, Ga., 30316, on the Eastside. The program runs from 8 a.m. till noon. A tour of the BeltLine, with lunch, begins at 12:30 and ends at 2:30 p.m.
Registration costs $55 and can be handled online at www.councilforqualitygrowth.com or via fax at 770-813-3375.
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