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January 4, 2011 
 
 
BAKERY FIRES UP AGAIN

As we move forward in 2011, we're curious what you think are the hottest topics in the real estate world. Have an idea or topic for a future event? Send us an e-mail.

 
Smells like a Lithonia food manufacturing facility is firing up the ovens again.
 
JAMIR MILLER 2200 LITHONIA RICH PRODUCTS BULLOCK MANNELLY PARTNERS
Bullock Mannelly Partners' Patrick Laughlin tells us he helped sell 2200 Lithonia Industrial Blvd, a 189K SF facility that at one time was home to Pillsbury and most recently Miller International Baking Co, a now-defunct biscuit company founded by retired Arizona Cardinals All-Pro linebacker Jamir Miller. His baking business failed (he's since moved on and launched a line of potato chips) and the facility was foreclosed on by McIntosh Bank. And being this is all during the financial meltdown, McIntosh itself failed last year and was taken over by CharterBank, which sold the property to Rich Products, another frozen food manufacturer from Buffalo that will operate out of the property (for which it paid $2.5M). Rich Food's Dwight Gram tells us that the acquisition is part of the company strategy to expand in the southeast, where the company projects further growth. Cushman & Wakefield's Travis Jackson and Addison Meriwether brokered the deal for the buyer.

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BOWERS SELLS HALF OF PINNACLE
 
Pinnacle Business Park Building 400 Bill Johnson Richard Bowers Wrightwood Capital Omega bio-tek
Norcross' Pinnacle Business Park was close to being nearly empty when owner Chicago-based Wrightwood Capital decided to change its marketing strategy. Instead of trying to just lease in a very shallow market, or sell the entire 308K SF park to one investor, Richard Bowers & Co's Bill Johnson and the Land and Investment Group convinced Wrightwood to market the buildings individually. The strategy seems to be working. In less than 10 months, Bill and his team have sold 50% of the park to a mix of users and individual investors, including Omega Bio-Tek, which purchased 400 Pinnacle Way (pictured) for $1.18M and Cape Engineering, which purchased 500 Pinnacle Way for $1.2M. Cape will use the building for its world HQ, according to Databank. A third building, 100 Pinnacle Way, sold to a Korean investor for $1.6M. “We spent the first 10 months trying to get the price right,” Bill tells us. The remaining three buildings in the park are still for sale.
Anthony Lois Richard Bowers land investment group
Bill grabbed a pic of one of his newest team captains for us as well. Anthony Lois has just been named VP of Bill's land and investment group. A five-year employee there, Bill tells us that Anthony has a “keen sense on the analysis of the transaction.”

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ICE KAYAKING WITH GRING
 
Robbie Gring Campbell Ron Bryson City North Carolina
We nabbed a snapshot from local commercial real estate marketing guru Robbie Gring Campbell, head of Gring Consultants, who had her first White Christmas with her brother, Ron Gring, during the family's holiday in Bryson City, NC. The siblings also invented a new sport: Ice kayaking. Well, not really a new sport, and as you can see here, they were still trying to get the hang of sledding in two feet of snow (no kayak yet). Then again, Ron is one of the Top 100 golf instructors, according to Golf Magazine, so we'll give him the benefit of the doubt in all things athletic.

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PAT HENRY JOINS DANIEL
 
Pat Henry Daniel Corp

One of the metro area's more prolific developers has joined the ranks of one of the few companies still developing. Pat Henry (pictured) has been named as chief development officer for Daniel Corp—co-developers and owners of the massive 12th & Midtown project that still has the potential to add another office tower to Atlanta—and will oversee commercial and multifamily developments and help out with asset management of the portfolio. Pat's been around Atlanta for a long time, most recently as president of Crescent Resources and also Trammell Crow Co back in its local heyday. Throughout his career, he's developed 15M SF worth $2B.

 
It's the New Year. What are your new plans? Let us know at Jarred@Bisnow.com
 
 
 
 
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Reznick Crane ATL
 
 
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