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Real Estate Bisnow
   
January 17, 2012 
 
 
Giant Parcel Becoming Peachtree Apartments

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One of America’s largest home builders is on a path to develop an apartment community in the affluent Peachtree Corners neighborhood. Lennar Multifamily Investors is under contract to purchase a 20-acre tract for $7M along Peachtree Parkway.
 
lennar peachtree corners apartments luxury roberts realty chris cassidy city

Here's the conceptual design, as told to Paul Cézanne. The land is across from The Forum on Peachtree Parkway mixed-use center. The seller is Roberts Realty, according to SEC filings, and the sale of the undeveloped parcel is set to close Feb. 7. Lennar’s Chris Cassidy tells us the firm is planning to start development this year on a 250-plus luxury apartment community that will be integrated with other local developers into a mixed-use project involving retail, office and townhomes; Lennar will also do the townhomes. Delivery is slated for Q3 2014. Chris says Lennar worked to integrate the different uses together. The design has been submitted to the city.

roberts realty peachtree corners parkway 141 lennar multifamily apartment luxury
Here’s the wooded site from our vantage inside a warm, dry Atlanta Bread Company. We spoke with Roberts Realty’s founder Charles Roberts, who tells us he’s using the proceeds of the sale to pay off the loan on the land and in turn free up his Sandy Springs parcel (10 acres across from the North Springs MARTA station) that was used as collateral. Charles says he plans to break ground this year on a more than 350-unit apartment complex there.

CENTERGY GETS A CHECKUP
 
CENTERGY midtown gateway development athenahealth systems pnc financial
Centergy’s loss of PNC Financial Services Group as a tenant may be Athenahealth’s gain. Numerous sources tell us the owners of the 448k SF Midtown building on 5th Street is in talks with Athenahealth to backfill the 50k SF of space being vacated by PNC later this year. The company has been in the market with Avison Young’s Phil Barry for office space as it looks to expand its operations in the metro Atlanta market. It recently signed a 24k SF short-term renewal at Northwinds Pointe in Alpharetta but frees the company up to consolidate into Centergy if a deal is executed after PNC leaves. Sources say Athenahealth is one of a handful of prospects eyeing the Centergy space.
1075 peachtree 12th midtown pnc financial
PNC is moving its Atlanta banking HQ to Daniel Corp’s 12th and Midtown project. Sources tell us the bank will take 40k SF at the Midtown tower. We reported in October that Kim King & Associates sold most of its stake in the Centergy Building to its former co-owner Gateway Development. A PNC spokesperson declined to comment about the move.

HAIL TO THE CHIEF
 
JWB Realty services bill butler jeff pollock commercial georgia ccim president ansley golf club
Congrats to JWB Realty Services’ Bill Butler for his past year’s service as the Georgia CCIM president and welcome to Pollock Commercial’s Jeff Pollock in that same role. The two were part of the CCIM ceremony earlier this week at the Ansley Golf Club.

...CAUGHT A FISH THIIIIS BIG!
 
CNBC Marci Rossell chief economist crew luncheon cobb performing arts centre energy 2013 economic outlook atlatna
Atlanta’s jobless rate will fall even further this year thanks to a diversifying economy. That’s the assessment from CNBC’s former chief economist Dr. Marci Rossell during last week’s annual CREW luncheon at the Cobb Energy Performing Arts Centre. Marci says Atlanta’s job market has been diversifying out of finance and construction and into more business services, healthcare, education and green energy, which are producing jobs. That will help push the unemployment rate down to 7.2% from its current 8%. With that knowledge, the safest job in 2013 will be someone who teaches their surgery patients about solar pacemakers.

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