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The Inside Scoop on the People & Places that Shape Atlanta Real Estate
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Trading Places
Left to right: Steve Dils, Kay Younglove and Bucky Winfield.
The Rooster wishes Steve Dils,
Kay Younglove and Bucky Winfield the best as they embark
on new career endeavors.
Dils joins Toronto-based real estate
services firm Avison Young as managing director after five years at
Grubb & Ellis, where he served as managing director and executive
vice president. With the firm's Atlanta debut, it will be interesting
to watch Avison Young grow as a formidable competitor in Atlanta and
the Southeast. Avison Young also has opened a new office in Washington,
D.C., and now operates in 16 markets.
Prominent leasing vet Younglove has joined Jones Lang LaSalle from Colonial Properties Trust and
will work to grow JLL's Atlanta office portfolio.
On the industrial side, Winfield joins
Newmark Knight Frank from Richard Bowers & Co. With the addition
of Winfield, the New York-based firm launches its Atlanta industrial
platform.
With these moves, others are sure to
follow, so stay tuned.
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DCT Goes with the Grain
From left to right: Darren Ross of Grubb & Ellis, John Tugman of DCT Industrial Trust, and Tommy Hiles of Bull Realty.
DCT Industrial Trust has landed Woodgrain
Distribution's 160,440-square-foot requirement at 6280 Best Friend
Road in Norcross. The move brings the 262,000-square-foot distribution
center to full occupancy.
Tommy Hiles of Bull Realty represented
Woodgrain Distribution, while Dave Watson, Darren Ross and Nick Faber
of Grubb & Ellis represented ownership.
The deal comes on the heels of Kraft
leasing more than 960,000 square feet on the southside and Colgate-Palmolive's
lease for 743,000 square feet in the I-20 West submarket.
"We built a strong relationship during
negotiations and were able to structure a deal that worked out well
for both Woodgrain's and DCT's long-term interests," said John
Tugman, Vice President and Regional Director of Leasing at DCT. "With
these larger transactions, you're seeing Corporate America's continued
desire to have a long-term presence in Atlanta."
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Colliers Office Report: Goodbye and Good Riddance to 2009
The city of Atlanta putting the 2009 office statistics to rest!
Colliers Spectrum Cauble's year-end
office market report delivered a grim post mortem for 2009.
Atlanta's office market experienced
its first year of negative net absorption in seven years, losing 1.2
million square feet of occupancy last year, according to the report.
Overall vacancy increased to 18.7 percent as a combination of negative
net absorption and 2.6 million square feet of new space delivered. As
a result, asking rates declined $1.07 per square foot and $1.29 per
square foot for Class-A space.
Office market vacancy is expected to
increase again this year, especially with another 1.6 million square
feet of development slated to deliver, 94 percent of which is not leased.
The imbalance could create a six-year supply of office space, the report
noted.
Still, it's not all doom and gloom.
Atlanta's technology sector will gain from the presence of NCR, FirstData
and Sony Ericcson corporate HQ relocations, and a strong second half
of 2010 could lead to positive net absorption, especially if tenants
see the opportunity at the bottom of a market. Click here to view the full report.
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Rooster on the Move
A look at the bar inside Ri Ra Irish Pub in Midtown.
Better look twice! The Rooster's hitting back-to-back kick-off parties tonight. First up, we'll join the Young Council of REALTORS at Five Paces Inn. Then we'll crash the fun at Ri Ra Irish Pub in Midtown with the Circle of Trust's first event of the year. We're looking forward to fun photos of the lively crowds. Rumor has it there's a caricature of a Rooster at Five Paces Inn. We'll let you know if we spot it! |
We encourage our readers to reach out to the victims of the earthquake in Haiti. Less than two weeks ago, a 7.0 earthquake devastated this impoverished
country. You can donate $10 directly to the American Red Cross Haitian Relief Effort simply by texting "HAITI" to 90999, or make a donation to the cause here. |  We want to cover your next event! Send our marketing staff a note with all the deets and we will do our best to be there!
In case you missed us, click here for past issues. |
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