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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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Resource(ful)
Birdseye view of Governors Lakes 200, part of Resource's new leasing and management assignment.After acquiring a portfolio
within Rivergreen Business Park and picking up leasing and management
of Governors Lakes and Jefferson Plaza in Peachtree Corners, Resource
Real Estate Partners is serious about making some deals.
Resource acquired the
245,000-square-foot
Rivergreen development at the end of March, and, as new owners, is
ready to deploy tenant improvement and commission funds toward
completing
transactions. For leases completed in the next 90 days, the new owner
is willing to cut asking rates 20 percent to $8.25 net and provide full
TI and incentives such as broker trips. Resource's
Rivergreen/Chattahoochee
Corners holdings include 3475 and 3550 Corporate Way and 4450, 4500,
4550 and 4570 River Green Parkway.
Resource's Rivergreen leasing
team has some momentum already, having recently completed renewals
totaling
75,000 square feet, including Aspect Software's lease for approximately
24,000 square feet at 4450 River Green Parkway. Ken Ashley and Quin
Ryan of Cushman & Wakefieldrepresented Aspect and declined to
comment.
"Tenant retention is No.
1. You can't lose them," Resource's Clint Glover said. "There
were a number of competitive alternatives, but moving technology was
a big challenge (for Aspect). Our challenge was to make sure we
delivered
an economic package consistent with what they could get if they
relocated."
Nearby, a private, Louisville,
Ken.-based investor rewarded leasing and management of Governors Lakes
and Jefferson Plaza to Resource, and Glover, Michael Howell and Matt
Davis will serve as leasing agents, with Kim Eginton leading property
management. Governors Lakes includes two, five-story office buildings
totaling 207,151 square feet and is 78 percent leased. Jefferson Plaza
is a seven-story, 117,625-square-foot building that is 50 percent
leased. 
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Congrats to Team Emory
on NAIOP's School Challenge!
Four student teams, one each from Emory University, Georgia Institute of Technology, Georgia State University and University of Georgia, competed in NAIOP's 18th Annual School Challenge this morning at the JW Marriott in Buckhead. Each team had to analyze an investment opportunity involving $100 million invested in metro Atlanta office and industrial properties, with a guaranteed return of 5%. The school with the winning plan: Emory University. Congratulations from Team Rooster!
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North Cobb
Getting Connected
With Big Shanty Ground Breaking
We haven't seen too many
ground breakings lately, so hopefully no one threw a shoulder or
blew an elbow when the Town Center CID, and Cobb County, state and
federal
dignitaries kicked off construction of the Big Shanty Extension Tuesday
afternoon.
"As a CID with a Board full
of commercial real estate developers we are happy to break ground on
anything these days," said Mason Zimmerman, Town Center CID Chairman
and Senior Vice President at Pope & Land.
The four-lane, divided Big
Shanty Extension will run from Chastain Road east to Big Shanty Road
at George Busbee Parkway and reconnect Big Shanty with the Barrett
Parkway
corridor. The $26.2 million state, local and federal project is divided
into three phases and is slated for a 2012 completion.
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Suite Night for a Ballgame
 Eighteen lucky brokers joined Pattillo for the Gwinnett Braves game on Tuesday night.
Pattillo Industrial Real Estate
hosted a group of brokers and economic development types at Tuesday
night's Gwinnett Braves game in what's becoming an annual outing,
schmoozing and taking in our national pastime right in the middle of
Atlanta's biggest industrial submarket. Though the G-Braves lost 3-1
to Durham's Bulls, The Simpson Co.'s Les Johnson got all the excitement
he wanted when a foul ball whizzed past his head.
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Keen on Keeneland
From left to right: Jack Rooker of Rooker, Bob Cottle of Colliers, Darren Butler of NAIBG, Nathan Anderson of NAIBG, Bilijack Bell of Wilson, Hull & Neal, Alex Brennan of Cannon Equities and Dennis Mitchell of Colliers.
It's good to do deals with Rooker. A few recent, lucky deal makers with the development company were treated to a day at the races at Keeneland in Lexington, Kentucky yesterday. Let the races begin for the next group to follow!
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Save the Date!
The American Cancer Society Headquarters in Downtown Atlanta.
Team Rooster is excited to announce our next event, sponsored by our friends at Cousins Properties. A special happy hour complete with appetizers, drinks, feature property tour and raffle prizes for all you office pros will be held on Thursday evening, May 13th at the American Cancer Society Center headquarters downtown. Invitations to follow shortly!
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 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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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.
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