First Data:  Goin' Back to Cali? 

No, I Don't Think So.

A look at the entrance to 1169 Canton Road in Marietta.

TASQ Technology, a subsidiary of First Data, is the latest company to take advantage of Georgia and metro Atlanta's business incentives and lower costs.

TASQ has inked a deal to consolidate a deployment center and up to 300 jobs at ING Clarion's 1169 Canton Road building. The 266,000-square-foot, Marietta building is located within an Opportunity Zone that provides a maximum of $3,500 per new job. TASQ currently operates an approximately 100,000-square-foot deployment center from 2155 Barrett Park Drive in Kennesaw and will consolidate some of its California operations into the Canton Road property.

For its part, First Data relocated its corporate headquarters from Denver to Atlanta last year.

Steven Rotter and Scott Panzer of Jones Lang LaSalle represented TASQ Technology. Tom Crowe of Hodges Management and Leasing Co. represented ING Clarion in the transaction and declined to comment.

Rubenstein, Barry and C&W

Quite a Team on Perimeter Deals

From left to right:  Andy Sumlin of Barry, Aileen Almassy of Cushman & Wakefield, Lisa Dunavin of Cushman & Wakefield, David Canaday of Rubenstein Partners, Caroline Nolen of Barry and Demming Fish of Barry at the Terraces office yesterday.

Rubenstein Partners'  Perimeter leasing team - Barry Real Estate Cos.'s Andy Sumlin and Caroline Nolen and Cushman & Wakefield's Aileen Almassy - is on a tear lately with new deals at Terraces and 47 Perimeter Center East.

At Terraces, Bell Oaks leased 4,500 square feet, Timberland Investments leased 5,500 square feet and Chinese tech firm Huwei leased 7,500 square feet at the two-building, 500,000-square-foot Class-A development that recently experienced a $20 million renovation. Bill Leonard of Wm. Leonard & Co. represented Bell Oaks, and Sean Moynihan of Newmark Knight Frank represented Huwei. Additionally, Doosan, a Korean industrial giant with its U.S. headquarters at Terraces, is considering doubling its tenancy to 50,000 square feet, Sumlin said.

At 47 Perimeter Center East, insurer Crum & Forster leased 9,000 square feet, or about 10 percent of the 95,500-square-foot, five-story building. Stephanie Marino of CB Richard Ellis represented the tenant.

Investment Sales:

When Does the Other Shoe Drop?

Colliers is marketing PPF's Westridge Logistics Center in Henry County.

Distressed-property funds started assembling two years ago, and Atlanta's list of wobbly developments grows longer each day. So, when does the other shoe drop, and when will the flurry of deals match the avalanche of distressed assets? A thaw could be on the way.

Our sources indicate that Invesco needs to sell the note on its River Green development in Peachtree Corners by the end of the month due to what's known as a mortgage experience adjustment factor (MEAF), an insurance/mortgage concept that essentially means insurance lenders need to sell quick or face  a penalty. Eastdil Secured represents Invesco in the deal and did not return calls. Was it something we said? Resource Real Estate Partners leases the six-building, 272,000 square foot office/flex park, and Resource executives declined to comment citing a confidentiality agreement. Market and deal watchers put the price at $33 to $35 per square foot.

On the Southside, Colliers'  Senior VP Dennis Mitchell has a gem that needs a little polish in Westridge Logistics Center in Henry County.

Lincoln Property Co. completed Westridge in late 2006, delivering the industrial development into the teeth of recession. Like everyone else, Lincoln faced declining rental rates and diminished leasing velocity at Westridge, but now the property offers an opportunity for investment in a well-executed development at a price justified by current rates, said Mitchell, who's marketing the "best in class" property on behalf of PPF Industrial. Located on Westridge Parkway near Interstate 75, the two-building, 324,000-square-foot property is 25 percent leased.

"There's a lot of capital chasing quality industrial, but there's not an abundance of quality product on the market," said Mitchell. "When quality product is available, capital is carefully but aggressively pursuing the opportunity."

From left to right:  Travis Vickers of Baker Barrios Architects, Carlos Pineda of VeenendaalCave, Hussain Moosajee of AIG, Marcellus Parker of Regus, Debbie Koenig of NAIOP Georgia Chapter and Felix Figueroa of Northwestern Mutual.

The Rooster knocked down some pins with NAIOP's 2010 future leaders at 300 Atlanta Monday night, during an evening of bowling to kick off the new class.  Congrats to the up and comer's!

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