January 6, 2015

Mercedes-Benz: It's Atlanta!

What was once a three-state race for the Daimler luxury automaker's US HQ may finally be seeing the metro area win the checkered flag, the AJC reports today.  

We broke the story in December that Atlanta was among the cities being considered for the US HQ of Mercedes-Benz, and that it specifically has focused on Central Perimeter for a possible build-to-suit campus that could exceed 200k SF. It has been widely reported that Atlanta was competing with the likes of North Carolina and Mercedes-Benz's current home in Montvale, NJ. Company officials are expected to make an announcement of the relocation later today during a company meeting, the AJC reports.

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CohnReznick (Field) MATL
Swinerton (BuildBold) ATL
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Trammell Crow's Two New Apartment Projects

Two new Trammell Crow Residential apartment developments seem to be taking steps forward. According to City of Atlanta permits, Trammell Crow Residential has filed a land disturbance permit for Alexan Glenwood, a 216-unit, 350k SF apartment complex with a parking deck at 800 Glenwood. This is the multifamily parcel that is part of Fuqua Development founder Jeff Fuqua's (above) Glenwood Park mixed-use project that will be anchored by Kroger. Total cost wasn't revealed, but according to the permit, site work is $600k.

It also appears Trammell Crow Residential is eyeing another Alexan project a couple of miles away. Trammell Crow's Walter Keller is the name behind a rezoning permit for what it's calling Alexan Village Flats at 205 Metropolitan Ave in Atlanta. Details on the size of the project were not available as of press time. The Alexan-branded apartments are nothing new for TCR. It already has Alexan Town Brookhaven up and running, and according to the company's website, is working on the 222-unit Alexan at Krog Street (here). 

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Bisnow (RawSpace-Crowd)
REFM (Valuate) ATL
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Fairlead In Second Tampa Buy

Fairlead Real Estate's love affair for all things office and Florida continues unabated. This time it's through the purchase of Westshore 500, a Class-A, 130k SF office building in Tampa with equity partner Bridge Investment Group Partners. Fairlead's Jeff Shaw tells us the facility was “one of the last value-add opportunities” in Tampa, and the owners have plans to upgrade the building's common areas and amenities for an undisclosed sum. CBRE's Christian Lee, Dale Peterson, Charles Foschini and Marcos Minaya brokered the deal. Fairlead has already bought once in Tampa with the 281k SF Fifth Third Center (which we reported here), and Jeff tells us its still seeking upwards of $600M in assets to buy with its fund.

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Bisnow (Niche-White)
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Shea Meddin Heads to Cushman & Wakefield

Up-and-coming young gun broker Shea Meddin is headed to one of Atlanta's big shops. We chatted with Shea (here with his wife Christina on a recent trip to Machu Picchu) after he just left Ackerman & Co for a director's post at Cushman & Wakefield in Atlanta. Shea tells us he plans to focus on office tenant rep and will continue to handle a handful of select intown investment sales.

Most recently (while at Ackerman), Shea helped HowStuffWorks lease 10k SF at Ponce City Market and sold Glenwood Park Retail, a seven-building 48,500 SF shopping center, to Coro Realty Advisors for $11M. While that shopping center name may elude you, it's famed eatery tenants probably don't: Gunshow and The Shed.

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Atlanta Hottest City in 2015?

Could 2015 be a year of ascendancy for Atlanta? MSN's Money thinks so. It placed Atlanta among the 15 hottest cities in the country for 2015 in its recent slideshow here. Highlights: the many new restaurants, the lure of the Beltline redevelopment and the established dominance of Piedmont Park as a go-to place to see and be seen. ATL is "undergoing a revitalization that will lure in young professionals," according to MSN. And instead of flocking to the 'burbs, they're clustering in the downtown area. 

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