Movin' On Up
 Wes Hudson of Reznick and his son, cheering on the Auburn Tigers in Glendale, Arizona.
Reznick Group Managing Principal Wes Hudson is a selfless, team player, not to mention a happy man after Auburn clinched a national title in last night's BCS Championship game.
Where many senior executives would cut a new deal to lessen their commute, Hudson willingly doubled his to 5 miles with Reznick Group's new lease for 70,000 square feet at Two Alliance Center, Tishman-Speyer's latest Buckhead trophy tower.
Reznick Group will move out of 2002 Perimeter Summit late summer or early fall and occupy floors 26 through 28 at Two Alliance. The accounting firm already has two of its four Perimeter Summit floors subleased.
Gregg Metcalf and Brannan Moss of Jones Lang LaSalle and Bill Kilborn and Carl Mullis of CB Richard Ellis co-brokered the deal on the tenant side, while Tishman-Speyer's Chris Ahrenkiel represented ownership. HOK and project manager Thompson Dawson are working with Reznick to achieve either LEED Silver or Gold status on the build out.
Reznick looked at 12 prospective locations, mostly in Buckhead and Midtown and mostly new buildings, Hudson said. The move to Buckhead strikes a balance for employees who live in the northern 'burbs and those that enjoy the in-town lifestyle, and provides better access to clients located in the submarket.
"The big thing for us is just looking at Buckhead not only from the perspective of where clients are located but also from a recruiting perspective, too," Hudson said. "It's a great central location for us."
 |
|
Industrial Thaw
 NAI Brannen Goddard's Brad Pope.
"Thaw" is the operative word of the day, and that's what Brad Pope, Mike Chambers and Jack Haden at NAI Brannen Goddard have seen with Atlanta's industrial market lately.
Pope, Chambers and Haden leased more than 1.25 million square feet in the fourth quarter on NAIBG's agency leasing side, and the firm averaged at least 1 million square feet in agency and tenant rep leasing each quarter of 2010.
Fourth-quarter deals for Pope, Chambers and Haden included representing UBS in a 292,000-square-foot lease with AAFES; representing DCT in a 188,600-square-foot lease with Caterpillar Logistics, which was represented by Jones Lang LaSalle's Bob Robers; representing Cobalt in an 84,000-square-foot deal with Exploring.com, which was represented by Danny Levison and Keith Guthrie of Commercial Property Professionals; representing Cohen Financial in a 226,000-square-foot lease with Diversitech, which was also represented by JLL's Robers; representing First Industrial in a 108,950-square-foot deal with Exel Logistics, which was represented by Colliers' Marty Arnold; and the investment sale of a 277,000-square-foot building for LNR Partners.
Atlanta's industrial market still has plenty of vacancy, but leasing is steadily improving, especially with bulk product on the southside, Pope said.
"For a while, we've seen a fair amount of activity, but now, as things are starting to thaw, we're seeing more transactions," Pope said. "There are going to be tenants in 2011 with specific requirements who are going to be disappointed with their options." |
MOBullish
A look at The Medical Park of Cary.
Bull Realty's Paul Zeman is bullish on medical office buildings (MOBs) after closing out 2010 with more than $55 million in MOB investment sales.
Zeman wrapped up the $28 million sale of The Medical Park of Cary in Raleigh, N.C.'s, suburbs at the end of the year, representing a private seller in the transaction with Healthcare Trust of America for the nine-building, 150,021-square-foot development near WakeMed hospital. In metro Atlanta, Zeman closed the sale of a 60,000-square-foot MOB/build-to-suit on the northside and a note sale on a 90,000-square-foot speculative MOB near Emory Johns Creek. Most of the sales are off-market and a matter of matching up one buyer, the right buyer, with the property, Zeman said, citing sellers' protective nature when it comes to relationships with tenants and neighbors.
Every U.S. demographic trend points to an increased demand for MOB and healthcare development, but spec development still may be premature, Zeman said. Investment demand, on the other hand, should gain momentum in 2011, much as it did in 2010.
"I expect 2011 to continue in that direction," Zeman said. "The development market hasn't entirely come back yet except for users - that market is fine. Speculative development on a medical building, I don't think we're quite there yet."
|
IDI and ACS Holiday Cheer
IDI's Finance and Accounting Team at the ACS Holiday House on December 17, 2010.
On a day like today, we don't mind warming up with one last piece of holiday cheer. The week before Christmas, IDI's finance and accounting team worked with the Atlanta Children's Shelter (ACS) and helped to wrap, ribbon and label more than 900 gifts for 80 families and 190 children. Led by IDI CFO Linda Booker, who's also on the ACS board, the IDI team joined volunteers from other companies and organizations to carry on what's become an 18-year tradition at ACS.
|
|
Industrial Strength Networking, Part II
 Rooster's Industrial Gig at Smith's Olde Bar in October.
Everything good needs a sequel, and we're looking to reconvene with our industrial friends for an evening of networking, beverages and fun February 3, location soon to be determined. Interested in sponsoring and getting in front of who's who in Atlanta industrial real estate? Contact us.
|
|
|
Have some good scoop to share with us?