News
BACK TO MARKET
August 18, 2011
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| That prime corner of Midtown is back on the market. Bull Realty's Daniel Latshaw tells us that the contract to buy a 2.5-acre parcel at the corner of Ponce de Leon and North Ave (attached to the St. Paul Presbyterian church) has fallen through and the site is coming back to market. Daniel declined to comment on potential buyers, nor about what happened to the previous potential buyer. ?As you know most distressed real estate is distressed for a reason," says Daniel. "Folks have been fired up, however, about this.? (The Jeep Wrangler will not be included in the sale.) | |
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| We know you know this guy. That's The Sember Co's Jeff Fuqua(next to a painting of what looks like a dream we had), and sources tell us he may be one of the bidders this time around. The prolific retail developer did pursue the property the first time but did not enter final negotiations, sources say. A Sember acquisition would makes sense; the company made a reputation for developing innovative Intown projects (including Atlanta's first two-story Target in Buckhead). And Sembler has been pursuing sites around metro Atlanta for future development (it even made a go at Alpharetta's Prospect Park that ultimately went to North American Properties). As we were first to report, the site's lender, United Bank of Zebulon, is forcing a short sale from the owner, an attorney in Montgomery. |
