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Real Estate Bisnow
The largest commercial real estate publication in the United States.
   
January 12, 2012 
 
 
HUMANA SCOPES
OUT CP

Bisnow welcomes Thomson Reuters’ Shane Moncrief, senior director of property tax services, as moderator of The Hotel Investment Summit on Friday, January 20th. Register here.

 
Health insurance provider Humana is looking for a cure for its space needs in Central Perimeter.
 
TYLER COURTNEY UGL EQUIS humana 900 ashwood rick nash requirement office central perimeter buckhead club rega
We chatted with UGL Equis' Tyler Courtney earlier this week during a REGA event at the Buckhead Club. He tells us he and Rick Nash are repping Humana in a 25k to 30k SF requirement in the CP area. The insurance company is now located in 30k SF at 900 Ashwood with a lease expiring in August. He says the company does have a four-property short list but declined to ID the contenders. Given the expiration, we expect a decision pretty soon.
 
PM Realty (PiedmontPlace)

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SLOW G(R)O(W)ING FOR ATLANTA
 
wells fargo mark vitner economic forecast 2012 jobs gdp atlanta buckhead club rega euro
Speaking of that REGA event, we got to hear Wells Fargo's Mark Vitner make his annual economic predictions. And much like Rajeev Dhawan's forecast, Mark is not seeing us drop back into a recession. But neither does he see us making any real economic headway either. In fact, it should be marginal growth for Atlanta for a long time. “We're not getting back to 2.8% GDP growth until 2015,” he says. “It doesn't mean the economy doesn't grow, it just means the economy doesn't grow rapidly until 2022.” The European debt crisis is a larger problem than most realize, he says, especially with troubled Euro countries like Italy being the third largest bond market in the world. And it will actually take the destruction of the Euro to finally solve the financial mess there. “I'm telling you it's not going to survive. That's when we get to the seventh inning stretch.”

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COKE BOTTLES UP PLANS FOR LEASE
 
coca-cola northyards resource real estate scott demyer raney ben lease
Sources tell us Coca-Cola backed off plans to lease 50k SF of space at Northyards Building 500. The beverage giant, which had been scouting locations for some time, instead intends to stay put at its HQ while the building goes through renovations. Resource Real Estate's Scott DeMyer, who leases Northyards, declined to comment. Coke broker Raney Real Estate's Ben Raney also declined to comment.

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FIND 'EM AND KEEP 'EM
 
atlanta development authority bill cronin flying biscuit buckhead terminus economic plan consulting
We recently had breakfast with Atlanta Development Authority's Bill Cronin at the Flying Biscuit to discuss all things economic development. Bill tells us the ADA is currently under way with a plan to revamp the way it promotes the city to the corporate world (the ADA is looking to hire a consultant to help out). But it will look at the entire arsenal of incentives the city uses and assess which work—and which don't. And also seek ways for the city to be less “reactive” to prospects and more proactive. “We're looking to create a vision of what's next for Atlanta,” Bill says. “The plan will be the driving force for how we do economic development.” While the city has done a lot for startups, Bill says it may need to consider ways to help companies grow to the next level instead of move to other cities for growth incentives.

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DOUBLING DEALS
 
newberger-andes david andes steve farrar triple net retail investment buckhead club
And finally, we had breakfast this morning with Newburger-Andes' Steve Farrar and David Andes about their business outlook for 2012. And for this duo, it's going to be a deal-a-month. David says the firm is looking to buy a slew more triple-net retail deals, even going outside the metro area's borders to do so. It just closed its fifth Dollar General store and has a Huddle House set to close soon. The firm typically buys five or six deals a year. But they plan to double that in 2012.
 
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Reznick Tile2 ATL
 
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Arent Fox Barcode ATL
 
Microsoft (Share)
 
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