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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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The Big Get Bigger
AMB's Morgan Business Center. Property photo courtesy of Co-Star.
The REIT world is abuzz today, as two of Atlanta and the world's largest industrial real estate owners acknowledge merger talks. ProLogis and AMB Property Corp. are in talks to create a global, publicly traded property company with a portfolio of more than 630 million square feet. Terms of have not been revealed, but the two companies' market cap totals $13.9 billion, according to The Wall Street Journal. AMB's Atlanta portfolio totals approximately 4.5 million square feet, while ProLogis owns approximately 19 million square feet. |
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Another Tenant for Terminus
Looking up at Terminus 200.
Cousins Properties has attracted another tenant to its Terminus 200 development, bringing the property to nearly 70 percent leased within nine months.
Law firm Locke Lord Bissell & Liddell will move from Midtown's Proscenium in mid 2011 into 15,000 square feet at T200. CB Richard Ellis' Sam Holmes and John Shlesinger represented Locke Lord Bissell & Liddell, while Cousins' Walter Fish and Anton Kotze represented ownership.
Fish and Kotze started with an empty building last April and have since made deals totaling 377,000 square feet at the 565,000-square-foot office tower. Fish says the goal is to be 80 percent leased by mid year as he and Kotze work to stabilize the property.
"We're just actively pursuing every prospect we've got," Fish said. |
Pattillo Eyes Bartow Development
Bartow-bound: John Drake and Ben Stafford of Pattillo Industrial Real Estate.
Pattillo Industrial Real Estate has filed a Development of Regional Impact report with the state Department of Community Affairs and plans to build more than 1.6 million square feet at Cassville White Road Industrial Park north of Cartersville.
Pattillo bought the 188 acres for the industrial park in December from a private seller and will begin development based on market demand, said Rusty McKeller, Pattillo's director of land development. Ben Stafford and John Drake will lead marketing efforts for the property.
"It's a market we've long wanted to enter," said McKeller. "The I-75 corridor is an extremely busy, valuable market to us, and we just found the right opportunity." |
Figuring out FASB with Transwestern
Bruce Ford, Transwestern's Southeast President, and Steve Harding, Transwestern CFO.
The central question for Transwestern's Tuesday morning seminar at the Buckhead Club was: Are you ready for FAS 13 changes? Panelists Jim Kaminer of Seyfarth Shaw; Steve Harding, CFO of Transwestern; Ernst & Young's Daniel McCracken; Greg Camia of iStar Financial; and SunTrust's Doug Sinclair looked at upcoming financial accounting standards changes and addressed the issue, which will keep lawyers, accountants and consultants in business for years. |
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ULI: Meet the FDIC
Christine Norstadt of Friese Legal and Jacqueline Heslep of Lutron Electronics Co. Inc., both attendees at ULI's Meet the FDIC event.
We've all been trying to make sense of distressed and bank-owned assets for a couple of years now, so ULI Atlanta helped members connect the dots with Wednesday morning's Meet the FDIC event at Two Alliance Center in Buckhead. Moderator Keith Linch of Greenberg Traurig LP and panelists Victor Robert, Resolutions and Closing Manager of the FDIC, James Thompson, Director of Prescient Asset Management; and J. Chris Sweitzer, SVP and CRE of BB&T, looked at recent changes the regulator has made in the past year and future opportunities involving disposition and acquisition of failed banks' assets.
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NAIOP Says YES! to the New Year
From left to right: Bill Hollett of Eola Capital (and 2011 NAIOP president), Shelby Jackson Rogers of YES!Atlanta, John Schuerholz of Atlanta Braves and Jamarcus Heard of YES!Atlanta.
NAIOP's first monthly meeting of the year was held this morning at the Intercontinental Hotel in Buckhead. Keynote speaker John Schuerholz, president of the Atlanta Braves, led the group with a light-hearted and engaging speech on leadership and the ingredients that create it. It takes commitment, enthusiasm and teamwork, Schuerholz said, and he summed it all up with, "I and My are oft used by those who are themselves confused; why won't their super egos trust the use of words like We and Us?" With 46 years of leading top baseball teams under his belt and a couple of World Series rings, we're willing to bet he knows what he's talking about. |
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Oh Deer...
From left to right: Erin Cugnasca of Choate Construction, Hillarie Robbins of IMA Corporate Interiors, Emily Choate of Choate Construction and Michael Holt of Choate Construction.
With rain and temps in the 40s, Tuesday turned out to be the perfect day for OFS Brands, IMA Corporate Interiors, Maharam and Shaw's chili cook off at OFS Brands showroom on Collier Road. Choate Construction's team took home Best Name and Best of the Best for its "Oh deer, that is buckin' good chili," while VeenendaalCave's Mary Porter's brew, "TurDrunkin" took home the award for Best Tasting chili. We're not entirely sure what "most unique" chili involves, but Perkins + Will's David Sheehan took home the honors with his "Envy's Stew." |
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