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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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The Hangover
The Port of Savannah.
Hangovers aren't uncommon
in Savannah, especially on March 18, and so it goes with Savannah's
industrial market after a building boom combined with an economic bust
put overall first-quarter vacancy above 30 percent around the Port of
Savannah, according to Jones Lang
LaSalle.
Like a
hangover, this, too,
shall pass. It's just a matter of when.
The port's pass-through of
700,000 twenty-foot equivalent units (TEUs) was a 25 percent year/year,
first-quarter increase, and the Georgia
Port Authority and Port of
Savannah's infrastructure plans, including deepening portions of the channel to
48 feet, will allow the Savannah port to nearly double capacity by 2015
in anticipation of the Panama Canal's expansion.
Chris
Brown (left) and
Brian Sutton (right) lead Duke's efforts in Savannah, where the
developer is the market's biggest owner of industrial properties.
"We're
long-term bullish
on Savannah - and we're in good shape now - but there's still
some time to go before it's healthy," said Chris Brown, Senior VP
at Duke.
So far, the
port's increased
volume hasn't translated into too many deals, partly because it's
largely driven by big retailers like Home
Depot and Wal-Mart
pushing
more containers through their existing, massive Savannah-area
distribution
centers, JLL VP Bob Robers said.
One of Savannah's main attributes,
rail access, increasingly plays a role, and it was a key factor in
Coastal
Logistics' decision to locate a 320,000-square-foot build-to-suit
at CenterPointe Properties' Intermodal
Center-Savannah in a deal
brokered
by Robers.
With the area's
vacancy and
aggressive owners, now's the time to expedite clients' port
diversification
strategy, Robers said. Developers with big, empty distribution centers
still are anxious, though.
"All
those buildings are
going to be full in 36 months, but an owner doesn't want to hear they're
going to be bailed out three years from now," Robers said.  |
From Board Room to Classroom
to Parish Hall and Back
From left to right: Sylvia Kelley, Jeff Small of MDH Partners, and Blaine Kelley, Jr. The Kelleys claim to head up the "Jeff Small International Fan Club".
We are finite creatures trying to grasp
the infinite.
These are the kinds of things Jeff
Small, CEO of MDH Partners,
thinks about, so much so that he decided
to pursue a master's degree in religion from Oxford University -
yes, the one in England, and in one year, no less - and write two
books on the subject.
Given the state of the real estate
market in '08/'09, it was as good a time as any to move the family
to England for a year and take a lifelong interest to a new level,
living
and breathing the topic, reading at least 1,000 pages and writing two
essays each week. In that setting, Small thrived on the intellectual
atmosphere and studying religion in an international context with
students
from around the world.
"It's been a hobby of mine, and
I thought why sit around here in such a depressing market?" Small
said. "I appreciated being in school, being older now, and I wasn't
doing this for any reason outside of the intellectual challenge."
Over
the winter and fall, Small
presented
a lecture series on living in a multi-religious world in the 21st
century, drawing hundreds of avid, curious participants to The Cathedral
of St. Phillip in Buckhead and Holy
Trinity Parish in Decatur for the
eight sessions, an endeavor Small plans to repeat.
"The more we
can get our religious
traditions to communicate with each other, the more common ground we
can find and find things to take from other traditions to apply to our
lives," Small said. "I'm trying to speak to those who see themselves
as spiritual but not religious, who want to live more spiritual lives
in a context where religion and science and logic are compatible."
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The Study Hall:
And Now for the Next 20 Years 
From left to right: Price Weaver of Colliers, Anne Weaver, Amy Reavis and Murray Reavis of Rooker at The Study Hall celebration on Tuesday evening.
The
Study Hall's 20th
anniversary packed The Foundry at
Puritan Mill Tuesday night as more
than 300 revelers celebrated the non-profit, after-school program's
first two decades. With board members from IDI, Colliers, Cushman &
Wakefield, Carter, Childress Klein and Panattoni, Atlanta's commercial
real estate community has played a vital role in the organization's
success, and, Tuesday night, a live auction pitted Pope & Land's
Jackie Gauthreaux against IDI's
David Birdwell for a one-year lease
on a new BMW convertible. Birdwell won out in the end, snagging the
new Beemer for half the cost of its annual lease. Overall, the event
grossed $150,000 for The Study Hall, perhaps just enough to start
repairing
and replacing the HVAC and other systems installed in 1989 as well as
two 15-year-old vans used to pick up 80 or 90 kids from school every
day and give them a ride home after supper.
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Movers and Shakers:
Andrew Murphy to Ackerman
Andrew Murphy of Ackerman & Co.
Andrew
Murphy has joined Ackerman
& Co. as Senior Vice President in the company's investment
sales
team. Murphy joins Ackerman from Carter,
and in the past few years has
brokered more than 3 million square feet of office, retail and
industrial
property sales valued at more than $500 million.
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One BOMA-fide Trade Show
From left to right: Jason Love, Melvin
Donato and Brett Beaver of Century and Liberty Fire Protection.
The Rooster stopped in to check out the BOMA Show '10 at the Galleria Convention Center yesterday.
With almost 400 exhibitors showcasing CRE property products and
services from 9am til after 4pm, the property management pros in
attendance surely had their schmoozing cut out for them. Many thanks to
BOMA Executive Director Gabriel Eckert
for inviting us out to the event!
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A REGA Good Time 
Jeff
Newlin of AGH (left) and John Hetzel of Hetzel Law Group (right).
The Rooster stopped in 5
Seasons Brewery Westside on Tuesday evening to see our friends
from the Real Estate Group of Atlanta
(REGA). The Group's monthly socials serve as a great networking
opportunity for industry leaders and rising professionals. We'll see
you at the next one!
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