News
NEWBURGER-ANDES HEAD SOUTHWEST
June 9, 2011
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| Prolific retail buyer Newburger-Andes is on the clock: It purchased 800 Great Southwest Pkwy (a 62k SF multi-tenant industrial building in the Fulton Industrial submarket) for nearly $1M and wants to "fill it all in the first 90 days," says Newburger-Andes' David Andes. (He's second from left with Newburger-Andes' Steve Farrar and Wilson Hull & Neal's Rusty Epperson and Carl Golden, who repped the seller.) The company has already leased three spaces to small tenants, including Atlanta Audio Visual for 4,500 SF, Atlantic Unlimited for 8,800 SF, and Commercial Appliance Parts for 4,100 SF and has proposed leases out for the remaining vacancies. David says that it was an opportunity to pick up a solid property from a motivated, out-of-state owner at a deep discount off replacement cost. Also, part of the property's attraction (one of nine it owns in the area) is it's part of a redevelopment zone that could give tenants a $3,500 tax credit per employee for creating new jobs. |
