News
BRASFIELD & GORRIE'S RENEWED GLORY; THE DEAL SHEET
June 28, 2011
| The roots with Carter (or should we say Cassidy Turley?) and Brasfield & Gorrie run deep. So deep, Carter's Bradley Fulkerson and April Hawkinson got to handle the GC's regional HQ 10-year renewal and lease extension for nearly 70k SF at Barrett Summit in Kennesaw. | |||
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| Bradley has been handling B&G's leases since 2000, when he helped move the company to the three-building complex on Vaughn Road in Barrett Office Park. The deal represents an early renewal for B&G, which renegotiated its lease with the landlord Pope & Land for a rental rate reduction. B&G has handled many of Atlanta's most iconic developments, including The Georgia Dome, the Georgia Aquarium, Phipps Tower, and 3630 Peachtree. B&G and Carter also teamed up on Carter's Cincinnati $600M The Banks project. | |||
| Leases | |||
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| Czarnowski Display Services inked 570K SF lease in the Hartman V building at the Hartman Business Center in Austell. Based on Chicago, Czarnowski helps companies with trade show exhibits display their products. Carter's Charles Holloway (above) and Cushman & Wakefield's Gary Glatter (from the DC office) repped the tenant. Jones Lang LaSalle's Steve Grable and Chris Tomasulo repped the landlord. | |||
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| CresaPartners' Brian Greene helped broker The Partnership of Atlanta's lease at Prominence in Buckhead for an undisclosed amount of SF. The company will move from Northcreek in the Cumberland submarket. | |||
| Sales | |||
| Courtyard Atlanta Buckhead got snapped up by RLJ Lodging Trust in January for $27M, according to the company's SEC filings. It was part of more than $200M in hotels acquired during Q1 '11 for the company, but the only one in Atlanta. Noble Management Group manages the 181-room hotel. | |||
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| Industrial Income Trust purchased the Phillips-Van Heusen warehouse from AEW for an undisclosed sum, according to SEC filings. The apparel maker, which is leasing the 851k SF facility at 127 Liberty Industrial Parkway, is part of a three-building portfolio $111.8M purchase by Industrial Income that includes warehouses in Pennsylvania and Houston. The company reports that Phillips-Van Heusen is leasing the warehouse until 2030 with an annual rent of $2.2M. Seefried Properties will manage the Atlanta warehouse. | |||
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| Levin Properties purchased Crescent Centre at Northlake for $21M, a 12-story, 247k SF office building in Tucker located near Northlake Mall. Hartman Simons' Partner Jeremy Cohen, Stephanie Skidmore and Diane Haeger represented Levin in the transaction. | |||
| Financing Fun | |||
| Atlanta-based Roberts Realty Investors renewed its more than $8M loan with Wells Fargo Bank and extended the maturity date until July 31, 2012, according to company filings with the SEC. Roberts deposited nearly $460k as interest and real estate tax reserves to fund the payments. In turn, Roberts will be making interest-only payments monthly at LIBOR plus 300 basis points. The loan is secured by land in Peachtree Corners zoned for apartments. | |||
| Events | |||
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| Franklin Street's Christi Karp (kneeling), along with fellow real estate community members including Bisnow's Atlanta Business manager,Darla Bennett (wearing green), participated last year in a fundraising effort for the Southeastern Brain Tumor Foundation's "Race for Research". The money helps support patient programs and furthers research. The cause is very important to Christi because she is a three-year survivor. Your tax-deductible gift will make a difference in the lives of many. Support Christi and Team "Hope" here. | |||
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| NAIOP Happy Hour is coming tomorrow! Hosted by NAIOP Future Leaders, the event will be at Dantana's in Buckhead starting at 5 p.m. | |||
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| On a personal note, Spencer Schenke (right, during his Hilton Head vacation last week) is officially four today, and will be the same age as his bigger brother Connor for exactly five days, when Connor will be turning five. We'd love to see your recent family summer vacation pics. Send them to jarred@bisnow.com |
