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                                                                                                                                            June 3, 2010

The Inside Scoop on the People & Places that Shape Atlanta Real Estate
TLC Turnaround
David Andes and Steve Farrar
David Andes (left) and Steve Farrar (right) of Newburger-Andes.

David Andes knows how to find the sweet spot, whether it's single-tenant retail properties with long-term leases or the less-obvious empty industrial building that just needs a little polish.

The latter category includes 600 Interchange Drive, a 78,120-square-foot flex building in the Fulton Industrial submarket that Newburger-Andes acquired in April when 12 of the property's 15 units were vacant. The investor completely renovated 600 Interchange and, within two months, has the property re-tenanted at 70 percent occupancy.

Andes knew the building could be successful because Newburger-Andes accomplished the same thing at 500 Interchange five years ago when it acquired, renovated and fully leased the adjacent property. Tenants were clamoring for quality, small flex spaces, so Andes looked next door at an asset in disrepair and saw the potential. Fulton County's invigorated public safety, infrastructure and economic development efforts in the Fulton Industrial area played a role, too.

"What drew me to it was the success we had on the first investment," Andes said. "You clean up a property a little bit and get rid of the bad element and bad tenants, and you can do it. Everybody else is running from the area, and I'm not."

David Andes' father, Jerry, and Sid Newburger founded Newburger-Andes in 1976, and the company has returned to its roots as a syndicator of commercial real estate investments that culminate in all-cash deals. With the ability to tackle potential investments with no debt, Andes hopes to double the size of the 2 million-square-foot, more than $200 million portfolio over the next five years.
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Avison Young Adds Tritschler
Matt Tritschler
Matt Tritschler of Avison Young.

Avison Young has added Matt Tritschler to lead its Southeast capital markets efforts, the firm's first hire since it brought in Steve Dils to launch its Atlanta office in January. Tritschler joins Avison Young from Colliers. Over the past year, the Canadian real estate services firm has expanded rapidly in the U.S., adding a presence in Chicago, Washington, D.C., and Atlanta. 
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It's a Small World After All
John Wakefield and Lamar Beasley
John Beasley (left) and Lamar Wakefield (right) of Wakefield & Beasley.

Wakefield & Beasley takes diversity seriously on a number of levels.

When John Beasley and Lamar Wakefield started the firm 30 years ago it was diversity for survival's sake. The two young architects met with H.G. Pattillo, who didn't offer up any design work but connected them to people like Ray Weeksand M.D. Hodges, which eventually lead to projects for developers Pope & Land, Barry, Cousins, Duke Realty and Thomas Enterprises, designing office buildings, build-to-suits and 85 million square feet of retail around the world.
 
When the economy tanked, Wakefield & Beasley refocused on education, Corps of Engineers and healthcare projects and hired Doug Shaw to lead the its municipal practice. The company's WB Interiors subsidiary has always been profitable, and, to counterbalance that, Wakefield & Beasley also has a high-end residential design studio - "a separate company to lose money in a much more organized fashion," Beasley said.

"It's a diverse dichotomy, but that's what it takes anymore," Beasley said.

"Diversity's the key to our longevity, but, beyond that, it's about design and service," Wakefield added. "We don't do all of anybody's work - and we know they're not going to give us all their work - but we work for everybody."

Wakefield & Beasley approaches diversity from another perspective, too. Early on, they visited college job fairs around the U.S. to recruit the best and brightest architecture students. They noticed that many of those students where from other countries, and they often were among the social, political and intellectual elites. Adding those connections and capabilities helped Wakefield & Beasley win projects such as Dubai Festival City, Jisan Golf Community in South Korea, the Sahl Hasheesh mixed-use development in Egypt and Arena Blanca, a high-rise condo in Panama City, Panama.

"It's a small world anymore, really small," Beasley said.
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Hollywood South
Terminus 200 Commercial Shoot
Commercial shoot for EA Sports' Skate 3 at Terminus 200 in Buckhead.

Cousins Properties'  Terminus development has become a hot spot for film, television and commercial shoots, drawing the likes of the Farrelly brothers'  Hall Pass, a movie starring Owen Wilson, and the pilot for Queen Latifah's Single Ladies, which wrapped early Friday morning. Later the same day, Spitfire Studios took over the lobby of Terminus 200 to shoot a commercial for EA Sports' Skate 3 skateboarding videogame. The 15 skaters rolling through the lobby were not to be confused with attorneys and executives from Greenberg Traurig or Sony Ericsson, two big-ticket tenants recently signed at T200.
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Catching Up at 5P
Broker Friends at 5P
From left to right:  Jeff Cook of Jones Lang LaSalle, Lindsey Morrissey of Aura Salon, Jeff Henson of CB Richard Ellis and Mike White of Jones Lang LaSalle.

Rooster paparazzi was on the loose over the weekend and found mission success at Five Paces InnJeff Cook and Mike White of Jones Lang LaSalle and Jeff Henson of CB Richard Ellis were spotted with a beautiful blonde enjoying drinks and camaraderie.  Who knows where the paparazzi will be next time; be on the lookout.
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5985 Cabot Parkway
Wilson Hull & Neal
TPA Realty Bluffs Ad
Break News
Selig Enterprises Ad
Cousins Ad - 191 Peachtree
Hodges Ad
Rooster Ad Series
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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.