![Fairlead Buys 34 P'Tree](https://62b44a55c8f3a87440df-45c7b4d5aac2f388172e587008aaac69.ssl.cf2.rackcdn.com/jeff-shaw.jpg-large.jpg)
![jeff shaw](http://www.bisnow.com/testzz/writer/wp-content/uploads/2013/09/jeff-shaw.jpg)
Fairlead Commercial Real Estate's
Jeff Shaw is at it again. Coming off the buy (in a JV with The Creations Group) of 34 Peachtree, a
283k SF tower in Downtown Atlanta that fell into foreclosure earlier this month, Fairlead purchased a
mortgage note for $11.9M, or $39/SF, from an investment entity out of Asia. The prior ownership
paid $28.2M for the property in 2005.
While the property is
66% leased, Jeff says the low basis, area tax incentives, and the coming street car should boost tenant demand. (As well as years of Rice-a-Roni jokes by us.) "We expect to
finalize 120k SF in lease transactions in the coming months," he says. Jeff and Fairlead's
Jim Caswell are leading the leasing efforts.