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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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Another Peach for Parkway
3344 Peachtree.
According to multiple sources, Parkway Properties takes 2010's biggest trophy as the winning bidder for 3344 Peachtree's 492,000 square feet of Class-A office space.
If the deal crosses the finish line, Parkway's acquisition brings its Atlanta office portfolio to nearly 2.3 million square feet, and marks another stabilized, core asset for the Jackson, Miss.-based REIT. Parkway's 1.8 million-square-foot Atlanta Portfolio includes One Capital City Plaza, which is a block from 3344 Peachtree, Overlook II in Vinings and Peachtree Dunwoody Pavilion.
As well as its office space, the 3344 Peachtree mixed-use property also includes Sovereign's 82 high-end condos and restaurants Fresh 2 Order and Bistro Niko. The building's office space is more than 90 percent leased.
Jones Lang LaSalle's Chris Marshall and Ralph Smalley marketed 3344 Peachtree on behalf of owner Regent Partners and declined to comment, as did Parkway's Chris Breeden. |
More Signs of Life
Michael Pelt of MDH Partners. You can catch him tomorrow at the ACBR morning panel, where he'll share his take on capital markets.
Whether it's empty buildings selling, full buildings selling or even tenants expanding, Atlanta's industrial market shows signs of life through a gradually recovering economy.
With the empty buildings, the big idea is that they won't be vacant for long. MDH Partners has acquired 166 Etowah Industrial Court in Canton, Staples' former distribution center, and expects the 211,000-square-foot building to follow a path similar to MDH's earlier Northwest acquisition. MDH acquired 1039 Northpoint Parkway in Acworth last spring and soon after leased the 210,000-square-foot building to JVC.
"Buying empty buildings and leasing them up is a big part of our strategy, and we love that submarket," MDH CEO Jeff Small said of the deal.
MDH also has acquired 3451 Atlanta Industrial Parkway in northwest Atlanta from Raulet Property Partners. The 118,000-square-foot building near Bolton Road and I-285 is fully leased to La Chiquita Tortilla Mfg.
Our next empty building already has a tenant lined up, the buyer. King Industrial's Steve Ratchford represented end user and hair products distributor Annie International in its acquisition of Makita Tools' former manufacturing and distribution center at 4680 River Green Parkway in Duluth. Colliers' Bill Buist and Elizabeth McSweeney represented Makita in the sale of the 106,000-square-foot building.
Our final sign of industrial life involves a 3PL more than doubling its Southside space. Jacobson Cos. has leased 246,000 square feet at First Industrial Realty Trust's 3060 Southpark Blvd. in Ellenwood. Chris Tomasulo and Steve Grable of Jones Lang LaSalle represented the tenant, while Sean Boswell and Chris Cummings of Colliers and First Industrial's Kent Mason represented ownership. |
Passing the Gavel at ACBR
John Ferguson of CB Richard Ellis and Alan Joel of Joel & Granot.
They didn't dress up like Father Time and Baby New Year, but Joel & Granot's Alan Joel did pass the gavel on to John Ferguson at Friday's Atlanta Commercial Board of REALTORS year-end annual business meeting. CB Richard Ellis' Ferguson will serve as the 2011 ACBR President after Joel's successful 2010 term. Furman Wood of Commercial Property Professionals will serve as President-Elect, while Steve Dils of Avison Young, John O'Neill of Cushman & Wakefield, Dave Watson of Grubb & Ellis and Kay Younglove of Jones Lang LaSalle will serve as VPs.
Friday's event also recognized Grubb & Ellis' Brett Hunsaker as REALTOR of the Year and Heather Lamb of LaVista Associates as Young REALTOR of the YEAR. Lee & Associate's Craig Viergever took home the ACBR's Community Service Award, and Georgia Power Community and Economic Development received the Henry H. Robinson Award. VeenendallCave was named ACBR's Affiliate of the Year.
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Rooster Eyes are Smiling
Rooster Holiday Party...Click photo for more pics.
Regardless of what your expectations actually are, we intend to exceed them. We feel like we did it again with Rooster's Holiday Party Thursday at Fado, where we packed more than 450 revelers into the Buckhead's favorite Irish bar. Click here to check out the photo gallery from the event. We appreciate those of you who joined us for the fun and expect to see those of you who didn't next year or at least at our next event, which could very well involve fighting, nightfall and formal wear.
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Ritzy Residences
Dorsey Alston realtors Karen Rodriguez, Robert Peterson and Ashley Rearden.
Unlike everything else in the Eastern U.S. lately, Atlanta's condo market is starting to thaw.
Dorsey Alston may have the belle of the ball with the Ritz-Carlton Residences at the 3630 Peachtree mixed-use tower. We caught up with our friends at Dorsey Alston last week for the Ritz Residences caravan and checked out the stunning décor and views, just what you'd expect from a Ritz-Carlton property.
Ritz-Carlton Hotel Co. manages the residences, which are located in 3630's top 17 floors, while Dorsey Alston has the exclusive sales listing. Buyers began moving into the Residences in late November, and Dorsey Alston has 20 more under contract. The 129 condo homes range from more than $300,000 to around $1 million.
Look out in 2011 for more Residential coverage from your favorite source of Real Estate news.
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Luna? Si!
Buckhead's Luna ladies.
You have 11 shopping days until Christmas, including today. If you're male, behind on your holiday shopping and needing something sophisticated for your significant other, we suggest Luna at 3167 Peachtree Road. Same goes for our chic female readers looking to splurge on themselves or pick up modern and elegant attire for friends and family. Tell 'em Rooster sent you. It won't get you a discount or anything , but the startled smile will be totally worth it.
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