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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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Friendly Neighbors: Let's Build Two
Left to right: Hunter Lyle of Kim King Associates, Kyle Jenks of Parkside Partners, Gary Matthews of Parkside Partners and Beau King of Kim King Associates.
Parkside Partners and Kim King
Associates own similar tracts a few blocks away from each other on
Dresden
Drive in Brookhaven. The two parcels' similarity and the firms'
complementary skills led Beau King and Parkside's Kyle Jenks to a
partnership to develop two boutique office buildings, one at 2565 Apple
Valley and the other at 1336 Dresden.
Across Atlanta, Parkside has
a track record of boutique and loft-office development and redevelopment
including Buckhead's Hardin Building and Harry Norman's headquarters,
the Blue Horse in Inman Park, Brasfield Overlook in Glenwood Park and
Parkside Brookhaven. Kim King Associates' brings its in-house
construction
and project management expertise to the partnership.
The location's attributes
include access to the Brookhaven MARTA station, Atlanta's most affluent
neighborhoods to the west and south and neighborhoods that have
experienced
extensive redevelopment to the east and north. Parkside and Kim King
Associates are marketing the 15,000- and 22,000-square-foot buildings
as build-to-suits, for sale or lease.
"We think there will be a
market for small companies that want to have their own office building,"
Jenks said.
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No Opportunity Wasted 
Glenn Aspinwall of Jones Lang LaSalle (left) and Bob Kontur of UGL Equis (right).
Aggressive terms combined with
state opportunity zone incentives proved to be a winning combination
for Waste Management when it chose 1850 Parkway Place in Marietta for
office and call center space. UGL Equis's Bob Kontur represented Waste
Management as it scoured Cobb County's I-75 corridor and eventually
settled on 20,567 square feet at One Parkway Center, which is located
in a state opportunity zone along Marietta's southern edges. Jones
Lang LaSalle's Glenn Aspinwall represented ownership.
"When we looked at the incentives
through the opportunity zone, it became a no brainer," Kontur said.
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Back in the $
HFF's Mark Sixour with the lunch of champions, Diet Coke.Holliday Fenoglio Fowler's Mark Sixour
picked the best of times and worst of times to move to Atlanta from
Houston, but at least he cut his commute from 90 miles round-trip to
two.
Sixour relocated in late 2007 at the
brink of recession, moving the family to Buckhead and taking the corner
office at HFF's Monarch Plaza location. It was a difficult time for
commercial real estate, but that created more opportunities to get to
know the people - who weren't as busy and actually had time to meet
and talk - and Southeastern markets.
Since the beginning of the year, the
market's turned, Sixour said. Debt pricing from insurers has dropped
150 to 200 basis points with fixed rates in the 4 to 5 percent range
on 65 percent leverage, and CMBS is getting back into the game with
more conservative underwriting at around 70 percent leverage. CMBS also
will take a look at stable properties in smaller markets where life
companies may not have much interest.
"If it's stable real estate and
(lenders) feel over the term that the income stream is going to hold
up, it's very financeable today," said Sixour, senior managing director
at HFF.
For its part, HFF's Atlanta office
is marketing multifamily and anchored-retail properties Sixour values
at approximately $500 million and financing six more in metro Atlanta
including apartment, retail and industrial. Locally, HFF also is looking
to hire a few more analysts and investment sales professionals.
"We're still talking to people
who don't even realize how much it's turned around," Sixour said.
"We're swamped. We're fortunate right now that we have a lot of
activity."
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Hey Bryant, Bryant, Swiiiiing!
Broker Softball League's best gather around sponsor Dick Bryant of Bryant & Associates (center).
The Rooster continues to follow the broker softball league, organized by Doug Smith of Seefried Properties. We stopped by the Pace Academy field last Tuesday to watch the Indies (w) vs. Bowers, Ackerman (w) vs. Cushman and Majellis (w) vs. Costar/JLL. Bryant & Associates provided the much-appreciated pizza and beer.
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A Loew Circle
From left to right: Kelly Grunderman of Office Creations, Keith Mack of Regent Partners, Morgan Machen of Multivista, Edward Leftwich and Rick King of Winter Spaces.Team Rooster met up with buddy Keith Mack of Regent Partners to catch the Circle of Trust in action last Wednesday at the Loew's Hotel in Midtown. With more than 200 people filling the lobby, for a Memorial Day weekend kick-off, it was the largest Circle event yet. Be sure to join the group in late June at Tavern 99 in Buckhead. We'll be there! |
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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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