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January 25, 2011 
 
 
ACKERMAN BUYING MARIETTA MOB

We're pleased to have Carter SVP Tom Wittenberg as a panelist at our Healthcare RE Summit (he counts Catholic Health East and Hospital Corporation of America among his clients). Wed. Feb. 9. Grand Hyatt Atlanta Buckhead. Sign up now!

 
Ackerman & Co's medical real estate division is branching out into acquisition mode with a major purchase in Marietta.
 
KEVIN Markwordt transwestern ackerman investor conference capital city club marietta medical
The firm is purchasing Marietta Medical, a 99k SF medical office building at 790 Church S for $10.1M, or about $102/SF. Ackerman, which has largely focused on new medical development this past decade (including the first medical mixed-use project in Atlanta, Perimeter Town Center) purchased the half-leased facility out of foreclosure from State Farm. We snapped Transwestern's Kevin Markwordt making the announcement (he was the investment sales broker) during Ackerman's annual investor conference yesterday evening at the Capital City Club downtown. Ackerman's Chadd Evans spearheaded the acquisition for the company.
Will Yowell CBRE LaSalle Portfolio peachtree corners capital city club ackerman investor conference
Lots of little bits of news were announced during the conference. We caught CB Richard Ellis' Will Yowell as he announced that his team is bringing the LaSalle Select portfolio to market; it's a four-building, 400K SF office collection in Peachtree Corners, 95% occupied, with 6.3 years on average left on its lease term. “It's got stability to it,” Will told the audience of more than 100 CRE pros. He expects pricing for the suburban office portfolio to fetch between $145 to $150/SF. More coverage of the Ackerman investor conference tomorrow.

Bisnow
SEEFRIED CHANGES
 
Ferdinand Seefried Properties european capital
One of the leaders of Atlanta's industrial scene is stepping aside from his day-to-day role at the firm he founded. Ferdinand Seefried (above at a previous Bisnow function) has reshuffled his entire executive team at Seefried Properties, freeing himself to focus on attracting European capital and relationships, says Seefried's Greg Herren. Greg himself has been promoted to COO, overseeing leasing and property management. And Seefried named Rob Rakusin (previously COO and a 15-year vet at the company) as the new CEO, focusing on its offices not only in Atlanta, but in Dallas, Chicago, DC, and Phoenix to hone its brokerage relationships. Seefried's Jim Condon has been named chief development officer. Greg says many of these changes are in expectation that European capital is becoming more active in the states.

Bisnow
RETAIL FLATTENS
 
REIS Retail absorption Atlanta 2010
The numbers say it all. Following decimation, Atlanta's retail real estate is on the rebound. The latest REIS figures show ever so slight positive absorption in metro Atlanta during the latter half of 2010. Of course, rebound is relative, given the sheer loss of retail tenants during the previous two years. Ackerman & Co's Jeff Rosenthal says the periphery strip centers are still struggling with less consumer traffic, but “I think that grocery-anchored centers are seeing more activity.” How long the retail sector will bump along a bottom remains to be seen and depends on how willing consumers are ready to spend money again, Jeff says.

Bisnow
BIG BISNOW 'BURB SCHMOOZE
 

Rockville Pike in Montgomery County, MD, is no emerging area, but 850 Bisnow DC readers are excited enough about its potential to have joined us for our latest DC event, on Monday. 195,000 residents have descended on the county since ’89, MoCo Planning Department director Rollin Stanley told us. That leaves only 28 undeveloped acres, and 98% of the housing stock is single-family. As GenY-ers find jobs and move out of Mom and Dad’s basement, and as retirees downsize, where will they all go? Dense development surrounding transportation options is the only way to fit ’em all in. And there are economic benefits for the county and municipality, too. Rollin lives in high-rise worth $32M, while a single-family home on a lot of the same size is worth $810k.

 
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