News
THE DEAL SHEET
May 10, 2011
| Leases | |
 | |
| Grubb & Ellis' Steve Morgan helped Capital Media Group ink a deal for 5,500 SF at Tower Place 100. | |
*** | |
| Dendreon Corp has released details of its 160k SF lease at Majestic Airport Center that it built in 2009, according to SEC filings. The company signed a 10.5-year lease with five five-year renewal options. The total lease cost will be $6.7M, according to documents. | |
| *** | |
| Wells Real Estate reported that World Electric Supply has vacated its building at 3675 Kennesaw 75 and will not renew its lease once it expires in October 2012. The building is owned by Wells Real Estate Fund XIV, according to SEC documents. | |
| *** | |
 | |
| Honeysuckle Gelatto (that's ice cream, right?) has signed a deal for 2,400 SF at the English Avenue Yards with City Realty's Tim Holdroyd, pictured here with his partner Laura King. The retailer is paying about $8/SF. | |
| *** | |
| Tim also inked a 6,000 SF, 3-year deal with Verco, a velcro manufacturer, at 774 Forest Ave in Atlanta. | |
| *** | |
 | |
| North Highland signed a lease for 70k SF at Terminus 200 in Buckhead, moving from 550 Pharr Road by November 2011. Jones Lang LaSalle's Brad Armstrong and Chris Wagner represented the tenant. The deal brings the 564k SF Terminus 200 to 84% leased, Cousins Properties reported. | |
| *** | |
| ThyssenKrupp IT Services has inked a deal for 26k SF with Duke Realty at NorthWinds One, a 147,200 SF office building at 2475 Northwinds Pkwy in North Fulton. Duke also secured a lease with Savannah-based TitleMax for 27,600SF at the company's Brookside One office building. Site Selection Group's Sam Pruitt and Wildmor Realty's Michelle Galvani represented ThyssenKrupp and Carter's Preston Menning represented Carter. Duke's Wes Hardy did the deals for the landlord. | |
| Sales | |
| Piedmont Office Group purchased 1200 Enclave Pkwy, a 150k SF office building that's 18% occupied for $18.5M, and 500 W Monroe Building, a 46-story nearly 1M SF tower, in Chicago, through foreclosure for $227.5M. These are the latest buys by Piedmont, which purchased The Dupree Building in Atlanta earlier this year. | |
| *** | |
| California-based Sunstone Hotel Investors recently purchased a $3.4M mezz loan and two $250k subordinate notes on Twelve Atlantic Station, the 101-room boutique hotel in Midtown. The notes were restructured for monthly interest only payments of 3.5% with the balance due at maturity, which was extended out to November of 2012. | |
|
| |
| Financing | |
| Ohio-based Winthorp Realty Trust has stopped making debt payments on a string of flex and distribution buildings it owns with Sealy & Co in northwest metro Atlanta and the City of Atlanta. The companies have more than $100M in debt maturing in 2012, and have placed it with a special servicer to renegotiate the loan, according to Winthorp filings. | |
