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                                                                                                                                                                            February 24, 2011

The Inside Scoop on the People & Places that Shape Atlanta Real Estate
Parkside Partners with AGL
Parkside Partners 
Rendering of 111 Ingersoll Rand Drive in Chamblee.

Parkside Partners has carved out a niche with Chamblee redevelopment, and the firm continues the roll with adaptive reuse of a former Ingersoll Rand property that will serve as an AGL Resources' Peachtree Service Center.

Parkside will begin renovation of the 20,500-square-foot building near the former Doraville GM plant next month with an eye on completion and AGL's move-in by June. The $4 million project brings 50 jobs to Chamblee.

RP Partners, a joint venture between Parkside and RACO General Contractors, acquired the building and 2.8-acre site from Ingersoll Rand in March 2008 and sold the property to AGL for $2.98 million in December. Parkside's Kyle Jenks represented RP Partners and Jim Sanders of ICON Commercial represented AGL in that transaction.

The AGL project marks the firm's third in the North Dekalb town. Over the past two years, Parkside's been involved in Chamblee redevelopment projects totaling $16 million, including conversion of 3401 Malone and 5256 Peachtree into loft-office space. Parkside now calls 5256 Peachtree home.

"We're committed to (Chamblee)," Jenks said. "Chamblee's accessibility with the MARTA station and its proximity to Buckhead, Perimeter Center and major highways make it a great location to work."

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Colliers Gets Credit
Kwanza Hall and Charles Swain 
Altlanta City Councilman Kwanza Hall and Charles Swain of Colliers International. 

 

We're not talking about credit vis-à-vis finance, at least not this time, but credit for successfully tackling a difficult job. Colliers International and its partners were recognized Wednesday by the City of Atlanta for cleaning up and revitalizing The Mall at 82 Peachtree Downtown. Colliers, along with Spectrum Maintenance Services, SecureAmerica and the Atlanta Police Department, worked together to revitalize the property and surrounding area that's seen more than its share of crime and drug use. Colliers' work made a positive impact not only on The Mall at 82 Peachtree but also the neighborhood, which includes Five Points and Underground Atlanta.

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Credit Where Credit is Due, Part II
ULI Networking at Rosa Mexicana 
Chris Shaner of Cushman & Wakefield, Ellen Mendelsohn of Central Atlanta Progress,  Matt Mason of Legacy Property Group, Kristin Olsen and Scott Barr of New York Life at ULI Wednesday night.

 

We'll give North American Properties some credit, too. The new Atlantic Station owner, which recently acquired the property with big-money partner CB Richard Ellis Investors, is making the rounds and working diligently and persistently to get its Atlanta real estate peers to re-buy in on the vision for the giant mixed-use development's retail. Wednesday evening, Mark Toro and the North American team took the show to Atlanta's ULI district council at Rosa Mexicano, giving the stump speech and pressing the flesh like it was a political campaign -- and, in some respects, it is. 

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CREW: Eyes on the Future
CREW Luncheon
Nicole Lackey, Leigh Smith, Marcy Moneypenny and Brooke Martin of CB Richard Ellis.

Figuring out the future as a recent or soon-to-be college grad is rarely easy, so Commercial Real Estate Women (CREW) Atlanta invited undergrads and graduate students from UGA, Georgia State, Georgia Tech, Emory and other schools to UCREW 2011 at TowerPlace on Tuesday. Former CNN anchor Nadia Bilchik, author of "Life After College - the New Graduate's Guide," address two things not covered in the classroom - networking skills and business etiquette. Attendees also signed up for internships with Atlanta companies and the $10,000 CREW Network Scholarship for undergraduate women enrolled in accredited real estate programs. 
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And Congrats To...
Bill Weghorst
Bill Weghorst of PM Realty Group.


Atlanta real estate vet Bill Weghorst has been promoted to executive vice president for PM Realty Group's Southeast Region. In his 25-year career, Weghorst has completed more than 1,000 lease transactions in excess of 6 million square feet and valued at more than $500 million.
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Meeting of the Minds
AYREP Happy Hour
Brian Smith of Arnall Golden Gregory, Chris Marshall of Jones Lang LaSalle, David Tennery of Regent Partners, Ralph Smalley of Jones Lang LaSalle, Chris Breeden of Parkway Properties and Addie Sherwood, AYREP President.


It's not every day that you can get seller, buyer and brokers together - and they have nice things to say about each other - but the Association of Young Real Estate Professionals (AYREP) managed just that Tuesday evening at Sovereign/3344 Peachtree.

AYREP gathered with David Tennery of Regent Partners, Chris Marshall and Ralph Smalley of Jones Lang LaSalle and Chris Breeden of Parkway Properties to discuss Parkway's recent acquisition of the 3344 Peachtree office and retail space from Regent for $167.3 million for the 484,000-square-foot trophy.

The deal came together after 3344 Peachtree defied recession and jumped from 75 percent leased to more than 90 percent, which better positioned Regent to refinance the building with a life insurer, Marshall said. It also didn't hurt that investors were back in the market looking for stable assets.

"The bottom line is, if investors wanted to buy one building in Atlanta, it would be this one," Marshall said.

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