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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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Catching Up with Gateway Center
From left to right: Chip Groome of Grove Street, Lee Evans of Colliers, Scott O'Halloran of Colliers and Kevin Kern of Grove Street.
Business travelers have caught on to Grove Street Partners'
Gateway mixed-use development in College Park. Grove Street and its Colliers
leasing team are working to open the eyes of office tenants as well.
For business travelers, it's pretty easy. Gateway is
literally a stone's throw from Hartsfield Jackson International Airport and
less than two minutes away via the airport's SkyTrain people mover. The
development's LEED Gold Spring Hill Suites opened at the end of 2009, averages
72 percent occupancy and was cash-flow positive within three months. Across the
street, Grove Street celebrated the opening of the Atlanta Airport Marriott
Gateway last week. Both hotels also serve the Georgia International Convention
Center, which is adjacent to Gateway Center.
Colliers' Lee Evans and Scott O'Halloran lease Gateway's
Class-A office building and see great potential for tenants who desire airport
access and want to avoid airport parking, as well as companies seeking space
for training facilities. A limited amount of Class-A space around the airport
and Hartsfield Jackson's initiative to create more airport retail - at the
expense of airport office space - could bode well for Gateway, too. The
building recently attracted tenants the Scheduling Institute, a medical-office
training firm, and Pinnacle Management. Grove Street and Colliers have the
building at approximately 25 percent leased now and hope to be at 50 percent by
year end.
Now, the push is on to attract larger requirements whether
for the existing building or a pad that can support a 60,000-square-foot
build-to-suit, which would be an ideal site for a national or international
company's training center, Colliers Senior Vice President Lee Evans said.
"As brokers come down and see the connectivity, we're
starting to see some bigger prospects," Evans said.
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Learning from the Best
Panelist Larry Harmsen of ProLogis. Approximately 100 CRE professionals gathered at the Atlanta Commercial Board of REALTORS' office on Tuesday for "coffee talk" with a solid group of industrial market experts. Bilijack Bell of Wilson, Hull & Neal served as moderator to panelists Larry Callahan of Pattillo Industrial Real Estate, Randy Cardoza of AGL Resources, Mike Chambers of NAI Brannen Goddard, Larry Harmsen of ProLogis, Alfie Means of iCap Realty Advisors, Ray Stache of Cushman & Wakefield and Lisa Ward of IDI.
Much was gained by the attendees: insight on global and domestic trends of industrial real estate, movement of financing with the market, positive reinforcement of the rebounding economy and three hours of continuing education credit. If you missed it, be sure to register for the next educational seminar on August 18th. John Schlesinger of CB Richard Ellis will lead the "State of the Commercial Brokerage" seminar. We'll be there!
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Developing Leaders
From left to right:
Hussain Moosajee of AIG Global Real Estate, Amanda Shailendra of Atlanta
Development Authority, Brenda Robbins of Georgia Power, Chip Mitchell of
Georgia Department of Economic Development and Ben Stafford of Pattillo Industrial Real Estate.
NAIOP hosted their Developing
Leaders Lunch at STATS yesterday for more than 80 members. Future
Leaders Education Committee Chair Hussain
Moosajee, along with committee members Ben
Stafford, Jeff Pollock
and Mazeen Porbandarwala organized
and led the group with a positive panel discussion highlighting recent success
stories in Georgia as well as the economic development initiatives and efforts
on behalf of Atlanta and the state. Panelists included Amanda Shailendra of the Atlanta Development Authority, Brenda Robbins of Georgia Power and Chip Mitchell of the Georgia Department of Economic Development.
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Rooster on the Prowl
The JW Marriott Hotel in Buckhead.
As the kids go back to school, so
do the adults for continuing ed. credit. Look for Real Estate Rooster at Databank Atlanta's Mid Year
Symposium this morning at The Temple in south Buckhead and at the CoreNet
Global Atlanta chapter's Education Forum at the JW Marriott next to Lenox Mall.
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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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