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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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Crazy 8's
The 17-story CDC Roybal campus on Clifton Road in Decatur, shown under construction here, just opened.
The Obama administration wants
to cut federal property costs by $8 billion. Metro Atlanta has
approximately
8 million square feet of property leased or owned by the federal
government.
Is this a bad sign for a market desperate for good news?
According to a memo the president
released last week, federal property managers have until September to
identify excess or underused locations. Agencies will work with the
Office of Management and Budget and the General Services Administration
(GSA) to determine if property should be transferred to other agencies;
donated to colleges, parks and hospitals; or sold to private owners.
Agencies also must find ways to cut building and energy costs for
remaining
properties and consolidate the government's 1,100 data centers.
What does this mean for a city
with an enormous federal presence? Probably not much, said Jim
Bacchetta, Vice President of Highwoods Properties, which has placed an emphasis
on working with state and federal tenants here and throughout its
portfolio.
The CDC, Veterans Administration Hospital and federal courthouse? Not going
anywhere,
and, in most cases, growing.
Given Hartsfield-Jackson's
status and Atlanta's place as the region's capital, nearly every
federal agency - especially ones like the FAA and Homeland Security
- must retain a sizable presence here. Also, the GSA is more efficient
and competitive than many realize when it comes to negotiating for its
space, Bacchetta said.
"I don't think you're
going to see too much of an impact on the Atlanta real estate market,"
Bacchetta said. "The push for cost efficiency is a good thing for
us as taxpayers."
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A Sort of Homecoming
Left to right: Tom Parker, Tom Kirbo and Hugh Scott of Scott and Associates.
Tom Kirbo started out in
commercial
real estate working for his father-in-law, Hugh Scott Jr., as a property
manager overseeing four office buildings. Two decades later, he's
back after merging his firm, Kirbo Property Services, with Scott and
Associates.
Kirbo's career includes a
stint as Director of Medical Leasing at Cousins Properties before
founding
his own firm 10 years ago, and he returns to Scott and Associates to
lead its Healthcare Services division.
"There's a growing demand
for medical office development and leasing experience in the Southeast,
and more importantly, this market remains one of the strongest and most
dynamic for commercial real estate, which is the primary reason
for joining forces," said Hugh Scott Jr., President and CEO of Scott
and Associates. "Tom's experience in dealing with the unique challenges
associated with a wide range of medical-related facilities will give
us an advantage over other real estate firms when evaluating the
management
and leasing of existing facilities or the acquisition of new
properties."
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NAIOP Monthly Breakfast:
The Most Important Meal of the Day
 Walter Fish of Cousins Properties (left) will moderate the tenant rep panel on Thursday.
To better understand
today's hyper-speed market, NAIOP assembled some of
Atlanta's
sharpest office and industrial real estate and tenant rep minds for
Thursday's
monthly breakfast at The Westin Buckhead Atlanta, starting at 7:15 a.m.
"A
Tenant's Market - The New Playbook" will look at space users' evolving
needs
and expectations with a panel including Ben Logue of Colliers
International,
Wit Truitt of CB Richard Ellis, Travis Jackson of Cushman &
Wakefield,
Steve Morgan of Grubb & Ellis and Bert Sanders of Newmark Knight
Frank.
Cousins Properties' Walter Fish moderates the panel. Have you not registered yet? Do so now by clicking here.
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One REAL Happy Hour
Rooster's Regus and REAL Professionals friends at the cocktail party last week.The Rooster stopped in the Regus Business Center in Summit at Perimeter last Thursday evening, as a good crowd gathered in their long-time space (soon to be replaced by AutoTrader's new headquarters) to mix and mingle with the REAL Professionals Network's Board of Advisors. Thanks for the invite, Regus - we look forward to seeing the new digs! |
Be There: REGA, YCR and AYREP
Atlanta Braves President John Schuerholz (left) confers with Chipper Jones (right) at a recent home game. Photo courtesy of AJC.
Roosters can, indeed, fly. We'll
have to this week to keep up with great events and speakers all over town.
Tonight, look for us at the Real Estate
Group of Atlanta's 2010 Annual Dinner, 6 p.m., at Two Alliance Center,
where ARC Chairman Tad Leithead will discuss metro Atlanta's
transportation
problems and solutions.
Thursday, the Atlanta Commercial Board
of REALTORS' Young Council of REALTORS luncheon is a can't miss
as Atlanta Braves President John Schuerholz addresses the YCR at
Cherokee
Town & Country Club. The event starts at 11:30 a.m.
That evening, the Association of Young
Real Estate Professionals (AYREP) joins the American Institute of
Architects and its Young Architects Forum for the first leg of its 2010 Summer
Office Series hosted by Lightroom interior design and architecture firm,
115 N. McDonough St., Decatur. Lightroom is cranking up its rooftop-deck grill for the event, which starts at 6:30.
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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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