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Gateway's No Gamble
Gateway Distribution Center on Fulton Industrial. Hungry buyers continue to pounce on industrial investment sales, an area that's increasingly a bright spot in Atlanta and the overall capital markets universe. The latest big shoe to drop involves Ackerman & Co. selling two buildings at Gateway Distribution Center in the South Fulton submarket to New York-based KTR Capital Partners for approximately $7.8 million, or $19 per square foot. CB Richard Ellis' Frank Fallon, Chris Riley and Brian Budnick represented Ackerman in the transaction.
Ackerman acquired the two front-load distribution centers, which total 410,806 square feet, from ING last year for approximately $14 per square foot and brought the buildings to 75 percent leased. KTR Capital Partners' new holdings are at 6047 and 6049 Fulton Industrial Blvd.
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North Fulton Cotton Harvest
A look at One Deerfield Centre. Our sources tell us that Cotton States Insurance is nearing a deal for approximately 66,000 square feet of office space at One Deerfield Centre in Alpharetta, moving out of corporate-owned space in the Central Perimeter submarket.
Hines leases One Deerfield Centre on behalf of owner UBS, with John Heagy, Tori Kerr and Alan Kennedy representing ownership. Cushman & Wakefield's John Ferguson and Peyton Wimberley represent Cotton States and declined to comment.
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Forecast Calls for Sales
 Jason Frost of Cousins Properties.
Call Cousins Properties' Larry Gellerstedt and Jason Frost condo meteorologists.
They understood that at some point, a flood of Corus Bank-funded projects, which were eventually acquired by Starwood, would hit the market and not make things any easier. They looked at the forecast for Atlanta's condo market last year and decided to get aggressive with homes at 10 Terminus Place in Buckhead. The results? A torrent of sales.
From September 2009 through September 2010, Cousins sold 110 condos at 10 Terminus Place, with the sales volume totaling $16.9 million, or an average $414,029 per unit. This year, prices have ranged from $180,000 to $1.26 million. Cousins has eight more condos under contract and another eight on the market, said Frost, VP of development at Cousins.
"The positive response to the values at 10 Terminus Place is encouraging," said Cousins President and CEO Larry Gellerstedt. "While an excess amount of inventory continues to weigh on the Atlanta housing market, this is the most positive sign we've seen in this environment."
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BrokerFestivus
From left to right: Tony Bartlett of Lincoln Property Co., April Hawkinson of Partners Atlanta, Monica Davis of Partners Atlanta and Alex Cobble of Commercial Property Professionals.
A few things have become established October traditions - Halloween, the Georgia/Florida game and the Atlanta Commercial Board of REALTORS' BrokerFest among them. This year's BrokerFest drew 400 to STATS on a perfect night for beverages on the Downtown venue's deck. As well as networking and mingling with Atlanta real estate's who's who, the event also included a silent auction benefiting the Dana Smith Cancer Assistance fund and the Atlanta Board Educational Foundation.
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#RT@ ICSC Next Gen
From left to right: Brittany Stanley of RCG Ventures, Whitney Gardner of Riverwood Properties and Sarah Williams of SRS Real Estate Partners. Rooster joined a group of retail real estate professionals at Thursday's ICSC's Next Generation panel discussion and networking event to learn about ways to use social media and new online technologies to further business. The panel was moderated by Mark Lindenbaum of Healey Weatherholtz Properties and featured speakers Sue Carpenter of Carpenter and Co., Michael Erickson of Fifth Group Restaurants, Kristen Moore of Regency Centers and Chris Tuff of 22squared Inc. Now, if you'll excuse us, we need to go update our Twitter.
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In His Prime
From left to right: Darren Ross, Nick Faber, Dave Watson, Brett Hunsaker and Lisa Misiak, all of Grubb & Ellis. Much like Real Estate Rooster, Dave Watson is fun, so we couldn't help but stop in and check out Dave's birthday celebration at New York Prime, just to see what would happen. Unfortunately, Dave made us sign a confidentiality agreement, but he and friends from Grubb & Ellis did allow us to get pics.
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