Chalk One Up for CP
Concourse 6, also known as "The Queen."
Central Perimeter has a lot of things going for it, a relatively stable market with no new spec construction and Cox Enterprises' consolidation, to name a few. But the submarket's also experienced its share of tenant defections as they take advantage of owners' aggressive efforts to fill new buildings in other parts of town or backfill older properties.
While Beecher Carlson may have played musical chairs within Central Perimeter, it chose to remain in the market with a lease for approximately 25,000 square feet at Concourse Corporate Center Six. The insurance brokerage plans to relocate from 2002 Perimeter Summit to the Central Perimeter's Queen building next summer.
Teresa Johnson of Cousins Properties represented ownership, TIAA-CREF, while Jay Dowlen at CB Richard Ellis represented Beecher Carlson.
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ACBR Knowledge
Alan Joel of Joel & Granot Commercial Real Estate (left) and Alan Wexler of DataBank Atlanta (right).
Data's a key component to the Atlanta Commercial Board of REALTORS' offerings, and the board has made access to comps and other information a little easier and a little cheaper through a joint venture with Alan Wexler's DataBank Atlanta. With the partnership, ACBR members can access DataBank's 50 years' of Atlanta information on 10,000 properties at a discounted, a la carte rate. Wexler's been working with the board for years and, working with the board and board President Alan Joel, finally brought the project to fruition, with service starting last week. "We're looking at this as a major breakthrough for members who want to obtain data on an as-needed basis," said Joel, who's also a principal at Joel & Granot Commercial Real Estate. 
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Good News, Bad News
Father and son: Taylor Alexander of Protective Life Insurance Corp. and Doug Alexander of Colliers.
Colliers' Hank Hall and Doug Alexander have some good news and some bad, or at least not-as-good, news.
The good news: lenders have plenty of capital to place. Insurance-company lenders and government sponsored entities are strong, and CMBS is making a slow and steady comeback. The downside: there are a number of flaming hoops to jump through before you can access and obtain financing.
"All of our lenders have money that they would like to place in commercial mortgages because yields on a risk-adjusted basis are good right now, but they still have stringent underwriting," said Alexander, a senior VP in Colliers' capital markets group.
Alexander and Hall expect rates to remain at near-historic lows for the next year and capital flows to continue to improve. Lenders' stringency, though, means it will be tough for owners whose properties don't meet stabilization criteria, among other benchmarks involving location and sponsorship.
"If you have a stabilized asset, there's never been a better time to borrow long-term money," said Hall, also a senior VP in Colliers capital markets group. "The big question is just how fast do we come out of this recession? We're in much better shape from a capital markets' perspective than in 1990."
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The Long and Winding Road to REGA
Left to right: Jewelle Kennedy, City of Atlanta Planning Department, Bill Bland of Choate Construction and Gary Lee of Carter.
Let It Be is one of Rooster's favorite Beatles' albums, so we couldn't help but wonder, "which one's Ringo?" when the Real Estate Group of Atlanta hosted a panel on Real Estate Investment: The Long and Winding Road at the Buckhead Club Tuesday evening. Holliday Fenoglio Fowler's Mark Sixour moderated the discussion featuring Branch Properties President Nick Telesca, Regent Properties President Reid Freeman and Parmenter Realty Managing Partner John Davidson. Afterward, the panelists played "Get Back" on Sovereign's amenity deck in an effort to conjure pre-recessionary profits and returns.
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Hole in One!
Larry Gramlich of Troutman Sanders.
For Troutman Sanders' Larry Gramlich, it was just another day on the links, ho-hum, nothing to see here ... but his first hole in one while golfing with Eola Capital's Bill Hollett and Highgate Partners' Joe Terrell at NAIOP's board retreat at Lake Oconee this week.Meanwhile, at the Cherokee Developers Day Golf Tournament, Resource Real Estate's Adam Richards and Duke Realty's Brian Sutton played through the pain with casts on right and left arms, respectively.
Adam Richards of Resource Real Estate Partners (left) and Brian Sutton of Duke Realty (right).
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