To make sure the rooster gets
through to your coop, please add
newsletter@roostermedia.com to your address book!
|
The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
|
|
BBDO Closing In
 At the entrance of One Alliance Center in Buckhead.
Market chatter indicates that
global ad firm BBDO is close to renewing and expanding for approximately
90,000 square feet at Tishman Speyer's One Alliance Center. BBDO is
a subsidiary of marketing and communications holding company Omnicom
Group, and our sources indicate that another subsidiary may be joining
BBDO at One Alliance, possibly OmniCom's Bernard Hodes Group, which
is in Midtown's Promenade II.
Bubba Chrismer of CresaPartners represents BBDO. At this delicate point in the game, Chrismer and
Tishman
Speyer's leasing team aren't talking.
Tishman Speyer's had a solid
run at Alliance Center in the past few months. The international
developer/investor
announced a 14-year, 100,000-square-foot lease for Novelis' corporate
headquarters last week, and also has signed Marsh & McClennan and
Turner Construction Co. to 125,000 and 30,000-square-foot deals,
respectively.
The Novelis, Marsh and Turner Construction leases put the new 30-story,
493,000-square-foot Buckhead trophy tower at better than 50 percent
leased.
 |
|
Scotland Wright: Ahead of the Curve
Michael Tucker (left) and Scotland Wright (right) at their office in Buckhead.
We're starting to see a trend here at Rooster, companies hiring, looking to hire or at least talking about adding a few warm bodies. Scotland Wright may have been ahead of the curve last summer when Michael Tucker joined Scotland Wright & Associates, the first broker to join Wright's firm and the third member of the team, along with Wright's long-time assistant Stacy McCown Hill.
"When I first started, I intentionally kept it small, but I reached the point where it was time to add a person and maybe a few more," Wright said. "Young guys starting in this kind of environment and working through it, they'll be even more successful when the economy turns."
A former Legends race car driver - he wouldn't let us photograph him in the jumpsuit - Wright started Scotland Wright & Associates in 2001 after 20 years in the tenant rep business. Those two decades enabled him to build a trust factor and relationships with clients beyond the workplace.
"They know me and know the service and information I provide will help them make the best decision on their office and industrial space," Wright said.
That experience also helps when dealing with current conditions. Wright recently represented Webb Industries in its acquisition from Duke Realty of an industrial building that it occupied, along with two other tenants.
"When you have a sale price that doesn't match up with the appraised value or value from a few years ago, it really makes for a challenge," Wright said. "You have to talk to a lot of people, and your client has to be in a credit position to work with lenders. You have to do a lot more work to find the people that will make it happen." |
|
This Week in Positive Net Absorption: Industrial!
Colliers' Scott Amoson (left) and Cushman & Wakefield's Chris Shaner (right) comparing figures.Hey, much like office-market info last week, we'll take the 1.3 million square feet of industrial net absorption Cushman & Wakefield reported for the first quarter. It's a breath of fresh air after the 2.9 million square feet of negative net absorption for all of 2009, the first year of negative net absorption in Atlanta since 2002.
"While it would certainly be premature to get out the champagne - and hurdles to a full and sustained recovery still exist - but it's encouraging to see stabilizing economic indicators reflected in positive demand in Atlanta's industrial sector in the first quarter," said Chris Shaner, C&W's Atlanta research guru.
Big deals with Clorox and Colgate- 1.1 million and 744,000, respectively - helped create 4.3 million square feet of leasing activity for the quarter, 60 percent more than the fourth quarter of 2009 when overall leasing totaled 11.6 million square feet for the year, Cushman & Wakefield reported. Vacancy remained virtually unchanged from year-end at 10.6 percent, but the number of new spec buildings completed in the first quarter - 0 - and an active tenants' market suggest vacancy should decline as we progress through 2010. Four build-to-suits totaling 3.1 million square feet were under construction at the end of the first quarter.
|
Mixer & Munchies at Realm
From left to right: Amar Balikai of Realm, Julie Ketner of Realm, Steve Wiebel of Community One, Lisa Simmons of Community One, Iosef Vaida of Realm and Bruce Davis of Bryant Commercial Properties.
Community One Associates got to know its new clients at Buckhead's swank Realm condo tower last week with a mixer for residents. Community One added Realm to its roster of Atlanta condos last month, and the full-service condo management company has rapidly expanded its intown portfolio to include condo developments like Spire Midtown, Cosmopolitan, Ansley Above the Park, Midcity Lofts and Heritage.
|
|
 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.
| |
|
|
|
CONTACT EDITOR CONTACT ADVERTISING
The Real Estate Rooster is an online newsletter directed at the real
estate industry in Metropolitan Atlanta. You have received this newsletter
through your affiliation with the real estate industry. If you have received
this newsletter in error or would like to unsubscribe, please follow the link
below. The content of this newsletter is independently developed by Rooster Media, LLC and is not directed by the advertisers whose names and ads appear herein.
All of the content in this newsletter is the sole and exclusive property of Rooster Media, LLC. © 2009. |
|
|
|
|
