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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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From a Trickle to a Gusher?
 A look at the BB&T building at Atlantic Station. All year we've heard about the dearth of suitable property available to value-added and other funds amassed over the past two years. That trickle may turn to steady deal flow as we enter the home stretch of 2010.
The CB Richard Ellis team of Will Yowell, Justin Parsonnet and Jay O'Meara is marketing a portfolio of three office buildings in the Central Perimeter and Peachtree Corners submarkets totaling 330,992 square feet. The largest of the three, Peachtree Corners' The Summit, totals 180,337 square feet and is 97.4 percent leased. The remaining buildings, 5871 Glenridge in Central Perimeter and Waterford Centre in Peachtree Corners, come in at 64,682 square feet and 85,973 square feet and 81 percent and 77.5 percent leased, respectively.
The portfolio, which is part of Apollo Value Enhancement Fund's 2004 CarrAmerica buy, offers a combination of stabilized cash flow with the Summit and value-add play with 5871 Glenridge and Waterford Centre, Yowell said. It's also a match for an able and willing seller and the value-add funds that hunger for acquisitions.
"There's a fair amount of capital willing to step up," Yowell said.
In Midtown, we've heard the bidding has heated up for 271 17th Street, Atlantic Station's BB&T building. The 541,000-square-foot building is approximately 60 percent vacant according to LoopNet, and our sources indicate that the office tower overlooking the connector is drawing many of the runners up from the bidding for another Midtown trophy, the Campanile, which an affiliate of Dewberry Capital has under contract. Eastdil Secured, which handled the Campanile sale, is quietly
marketing 271 17th Street.
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You Ought to be in Pictures
 Mayor Kasim Reed, Chris Cooney of EUE Screengems, and John Raulet of Raulet Property Partners.
Friday, Atlanta Mayor Kasim Reed and EUE Screengems CEO Chris Cooney made it official at a ceremony at the Downtown W, as EUE Screengems signed a 50-year lease for Lakewood Fairgrounds for TV, movie and commercial production. Film shooting has already started, and EUE Screengems expects to have more than 100,000 square feet of studio space when it completes build out. John Raulet of Raulet Property Partners brokered the transaction between the city and EUE Screengems. 
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Knowledge, Parts I & II
 Alan Wexler of Databank and Jack Halpern of Halpern Enterprises. If you didn't learn anything
Thursday, you weren't paying attention.
We started at Databank's 2010 Mid
Year Symposium at The Temple where panelists discussed office, industrial,
retail and multifamily markets in Atlanta and the Southeast, and Cousins
Properties CEO Larry Gellerstedt and Sam Olens, candidate for state attorney
general and former Cobb County commission chairman, took a big picture view of
Georgia's political climate and economy.
 Mary Jane Olhasso, economic development administrator for San Bernardino County, Calif., and Angela Cain, CEO of CoreNet.
A few miles north at the JW
Marriott, CoreNet Global's Atlanta chapter presented its fifth-annual education
forum where corporate real estate executives and friends from the
architectural, economic development and brokerage community drilled into the
ever more complex world of workplace, technology and portfolio strategies.
CoreNet's full-day forum drew participants from throughout the Southeast and
U.S., including new CoreNet Global CEO Angela Cain.
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Rolling with Grubb
From left to right (standing): Jessica Doyle, Audra Cunningham, Brett Hunsaker, Lisa Misiak and Dave Linder. From left to right (kneeling): Steve Morgan, Darren Ross and Dave Watson. All of Grubb & Ellis.
The Rooster joined the Grubb & Ellis gang at 300 Atlanta, where they gathered for their employee outing last Thursday afternoon. Rumor has it that Steve Morgan has a new winged friend; we have the pictures to prove it. Stay tuned! |
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Rooster After Dark 
The view from the Skyline Terrace at the Peachtree Club.
With the summer vacation season winding down, after-hours networking is once again heating up.
Look for Real Estate Rooster at NAIOP's members-only happy hour Thursday honoring Atlanta's top brokers at the Peachtree Club at 999 Peachtree St. in Midtown. The fun starts at 5 p.m.
Wednesday, we catch up with the Association of Young Real Estate Professionals (AYREP) for its Terminus 200 happy hour, starting at 5:30 p.m. Cousins Properties' Walter Fish and CB Richard Ellis' John Shlesinger will lead a discussion on Atlanta's office market.
See you there!
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In case you missed us, click here for past issues. | |
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