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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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Over/Under: The Campanile
The Campanile building in Midtown.
From Macau to Vegas to London, odds
makers have a keen eye on bidding for Midtown's Campanile building,
the former BellSouth's HQ that's mostly vacant. We exaggerate,
slightly, but the property has drawn national and even international
interest as nearly every opportunity fund focused on the U.S. takes
a run at it.
Eastdil Secured's Mike McDonald is
leading marketing efforts for The Campanile on behalf of owner Wells
Fargo, which foreclosed on the 440,000-square-foot office building in
March. Conventional wisdom prices the building between $50 and $75 per
square foot, as bids are expected to roll in this week.
Where do you think the pricing will fall? Click here to take our quick poll and see live results. 
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Consolidation + New Tenants =
Net Absorption
 Colliers' Bill Buist at his office in midtown yesterday.
One corporate consolidation and two
new tenants for metro Atlanta equal more than 380,000 square feet of
absorption for metro Atlanta's industrial market.
In Braselton, TranSouth Logistics leased
190,000 square feet at Atlanta Property Group's 455,000-square-foot
1001 Cherry Drive building. Colliers' Price Weaver and Bill Buist represent Atlanta Property Group at the building, while Geoff and Sam
Friedman of AFCO Realty represented the tenant.
Charleston, S.C.-based TranSouth is
a 3PL specializing in the flooring industry, and it will use 1001 Cherry
Drive for distribution of William M. Bird and Co. products. The new
facility combines TranSouth operations in Georgia and South Carolina.
"The majority of the activity the
industrial market's seeing today is a function of Corporate America
further reducing operational costs, especially in the supply chain,"
Weaver said. "Very little of the activity is a result of companies
anticipating future growth or reacting to growing pains."
In the I-20 West submarket, Seefried
Properties has closed two leases with tenants new to metro Atlanta on
behalf of owner Colony Realty Partners. Seefried's Doug Smith and Will Lombard represented Colony Realty Partners in both transactions.
Stealth Manufacturing has leased 54,000
square feet at 8220 Troon Circle and will relocate its corporate headquarters
from Monroe, La. Bob Grigsby of Newmark Knight Frank represented Stealth
Manufacturing in the deal, which brings the 128,000-square-foot building
to full occupancy.
Around the corner at 213 Thornton Road,
Streetside Classic Cars leased 37,000 square feet and was represented
by Jones Lang LaSalle's Paul Roeser. Streetside Classic Cars is the
first tenant in the 116,000-square-foot development since Seefried and
Colony Realty Partners began renovating it and retrofitting lighting
and other infrastructure in January.
"Hopefully, this will build some
momentum for the property," Lombard said.
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Rooster on the Scene!
Team Rooster spread its wings across the city last week as we kept up with the lively commercial real estate scene. Here are just a few highlights from the hot spots we hit:  Left to right: Stuart
Miller of Coro Realty Advisors, Michael Kuniansky Skyline Seven Properties and Stuart Shapiro of Developers Diversified Realty (DDR) at
the YARA Happy Hour on Wednesday evening.
 Left to right: Alan
Joel of Joel and Granot, Atlanta Braves President John Schuerholz and Peter
McGuone of TPA Realty Advisors before Young Council of
REALTORS' 2010 Leadership Luncheon at Cherokee Country Club on Thursday
afternoon.
From left to right: Jackie Fraker, Nicole Lackey, Katie Surette, Rusty Kigelman, Amy Fingerhut, Heather Reich, Kate Hardin, Melissa Securda, Mollie Hammett and Katherine Lynch of CBRE gathered at The Bucket Shop in Buckhead for a quick happy hour on Thursday.
 Scott
Balkcum of BB&T and AYREP (left) and Bill
Carpenter, founder and president of LightRoom Studio (right) hosted the AYREP/AIA Young Architects Forum happy hour at LightRoom on Thursday evening.
Left to right:
Tommy Hughes of Hughes Commercial Real Estate, Laura Thigpen of Hodges
Management and Leasing Company, Darren Ross of Grubb & Ellis and
Bruce Logue of Hodges Management and Leasing Company in a suite at
Turner Field on Thursday evening watching the Braves take on the Rays.
 Left to right: Ben Stafford of Pattillo Construction, Bilijack Bell of Wilson, Hull & Neal, Jamie Hargather of Wilson, Hull & Neal, Will Lombard of Seefried Properties, Kevin Caille of NAI Brannen Goddard and John Tugman of DCT Industrial Trust were just a few of the hundreds of World Cup fans who gathered at Fado on Friday to watch the USA/Slovenia game.
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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.
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