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Real Estate Bisnow
   
January 8, 2012 
 
 
Gwinnett Place
Mall Sold?

The Cobb Galleria Convention Centre makes your stellar event a reality with its world-class facilities, including The Cobb Energy Performing Arts Centre, Atlanta’s premiere performing arts venue. Find out more here.

 
The ailing Gwinnett Place Mall may finally have new owners—and a new infusion of lifeblood.
 
Trepp reports the 567k SF Duluth mall is being packaged for sale with five other retail properties across the country with Eastdil on behalf of its special servicer C-III. Last year, the mall went REO on its $115M CMBS loan after Simon Property disposed of it, Trepp reports. Officials with Eastdil could not be reached for comment. Sources tell us that the sale is expected to occur sometime this month. Another of the properties in the package includes a massive Denver-area power center, which we reported here.
Dexter cos allan anderson real professionals network
Dexter Cos’ Allan Anderson is very familiar with the Gwinnett County area. At a recent REAL Professionals meeting, he said changing demographics and an improving economy bodes well for any new owner of Gwinnett Place Mall: “There is a lot of potential interest from both domestic and international developers.” He adds that some have floated plans to even raze portions of the mall and create an open-air shopping environment. (That's one way to turn a regular movie theater into a drive-in.) “There’s a lot of money poised and ready to go in that submarket.”

CADDY SHACKED
 
Regent Partners' Fielder Shurling, Carter's Scott Cloud, Eastdil Secured's Mike McDonald and Drew Barnette are losers. Of a golf bet. Thus the shirts. Titled the first annual Mulligan's Invitational, this group competed against IDI's Greg Ryan, Stream Realty's Ben Hautt, Atlanta Property Group's Court Thomas, and Cousins Properties' Colin Connolly in an 18-hole condensed Ryder Cup format at Brasstown Valley Resort last month. The losing team had to wear shirts designed by the winners (inspired by 2012's biggest earworm hit from Carly Rae Jepsen) on the roof of Atlanta Property Group's Peachtree 25th Building. As for the competition, Mike described it as "such a rush, almost as much fun as convincing a buyer to pay a 4-cap with three days of due diligence."

COMBO POWER
 
resources real estate tpa realty cbre 1005 alderman
We wanted to quickly note a huge Atlanta CRE mashup. CBRE acquired the assets of both Resource Real Estate Partners and TPA Realty Services, adding more than 13M SF of office and industrial assets to the firm's Atlanta property management portfolio (including 1005 Alderman Dr, above, that was controlled by Resource). Terms of the deal weren't disclosed. But we suspect it's another step in CBRE's master plan to take over the world.

CORO INTO CANTON
 
cassidy turley mark joines drew fleming coro realty advisors riverstone mill canton
Cassidy Turley’s Mark Joines and Drew Fleming get credit this morning for helping Coro Realty Advisors land Riverstone Mill, a nearly 50k SF shopping center in Canton. Coro paid an unnamed bank $3.5M for the property. The half-leased property includes Dollar Tree, Tuesday Morning, and Johnny’s Pizza.
 
What's your biggest earworm of 2012? Let Jarred@Bisnow.com know.
 
 
 
 
Cobb Galleria 2013
 
IREM (Economic) ATL
 
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