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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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Competition's fierce for
industrial tenants these days, so it's more vital than ever to retain
existing ones, which Panattoni's done with Kia at Newpoint. Kia
signed a three-year renewal for its entire 451,200-square-foot building
at the Lawrenceville development. Erik Weiss and David Kim of Studley
represented Kia, and Panattoni's Mike Gray represented ownership.
Gray declined to comment.
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Harold Wyatt on Course
Harold Wyatt on the No. 4 tee at Augusta National Golf Club.
Scratch golfer Harold Wyatt
wouldn't mind being at Augusta National this weekend for the Masters,
but he can't make it - too busy. These days, representing Wyatt
Realty Co. clients and working on investment opportunities for Wyatt
Capital, in addition to seeking hybrid brokerage/investment pros to
add to the team, gives him more than enough to do.
"We're looking for people
who can do brokerage but also want to invest capital and participate
in deals, people who are looking to be part of a boutique, local
brokerage
with regional investment capabilities," Wyatt said.
After graduating from UGA,
Wyatt's golf skills took him through 100 mini-tour events and PGA
qualifying school in the early '90s before he moved back to Atlanta
and joined Bryant & Associates as an office broker. He joined Carter
in 2000 before starting his own brokerage and investment firm in 2007.
These days, Wyatt balances
the brokerage side of his business with sourcing investment
opportunities
across the Southeast as his firm seeks value-oriented assets up to $10
million across a multitude of property types. Like a lot of investors,
he's waiting - patiently, with capital ready to go - for prices
to settle at realistic levels and expects deal making to heat up in
the second half of the year.
"It's been challenging
to find value," Wyatt said. "It's happening in slow motion, but,
slowly but surely, assets are starting to trickle out at prices buyers
can make sense of."
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Vcave Adds Four
Left to right: Partners Christine Veenendaal, Ed Cave and Jeannette Myers of VeenendaalCave.
If you know Ed Cave, you know
the man's a visionary. So, when VeenendaalCave recently added four
new members to the team, it piqued our interest, especially given the
job climate of the past year or two. Joining the team are: Mary Porter
as director of the medical design team, Katie Dunagan, who's rejoining
the firm as an interior designer, and intern interior designers and
recent grads Allison Ruege and Maria VanDeman.
What does Ed Cave know that
others fail to grasp?
"The window of opportunity
to recruit the best of the best is narrowing, and the ease of adding
exceptional talent will eventually come to an end," Cave said. "We
see our opportunities in medical design continue to grow, so engaging
talented, knowledgeable healthcare designers is critical to meet these
demands."
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First Industrial Closes Conyers Deals
 1665 Dogwood Drive in Conyers.
First Industrial Realty
Trust has closed leases on two buildings totaling more than 200,000
square feet
in Conyers. Brad Pope and Chris Miller of NAI Brannen Goddard
represented First
Industrial as it leased 1715 Dogwood Drive, a 100,000-square-foot
building, and
1665 Dogwood Drive, a 100,950-square-foot industrial building, to
logistics
firm Kiser-Harriss. |
The Richard Bowers Interview, Part II
Same multi-tasking talent, different day.
Given his company's stake
in 260 and 270 Peachtree - and the property taxes those buildings
and neighbors pay - Richard Bowers is an adamant Downtown booster
and has a few things he'd like to see, starting with 50 police officers
covering Downtown streets from 6 p.m to 3 a.m. That would go a long
way toward improving perceptions of the submarket and alleviating
homelessness
and panhandling problems, he said.
"With a greater police presence
- and solving panhandling and homelessness - Downtown would become
the place to be overnight," Bowers said. "Downtown's streets,
from the perspective of nightlife and entertainment and business
opportunities,
would be unbelievable, but, for whatever reason, that has not been
done."
After the past few years,
Bowers
has some ideas on how to get the economy and commercial real estate
moving forward, too, and it starts with liquidity and financial
stability
where real estate and the economy aren't disproportionately influenced
by Wall Street's more dubious machinations.
A couple of Bowers'
proposals to juice up commercial real estate liquidity: a mortgage
insurance
fund covering loans that are current, tax-free interest on current
commercial
loans and commercial lending from the Fed where the Federal Reserve
could take a small equity stake. Given the risk, asset values and wealth
tied to commercial real estate, he feels steps like these are required.
"This situation and correction
would do wonders for our business and leasing activity and sales, and
the overall economy will improve," Bowers said. "Does commercial
real estate deserve it? I'd like to think so."
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