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THE DEAL SHEET

THE DEAL SHEET
Leases
 
Steve Morgan Grubb Ellis Capital Media Group Tower Place 100
Grubb & Ellis' Steve Morgan  helped Capital Media Group ink a deal for 5,500 SF at Tower Place 100.

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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.

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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.

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Laura King Tim Holdroyd City Realty honeysuckle gelatto english avenue yards
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.

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Tim also inked a 6,000 SF3-year deal with Verco, a velcro manufacturer, at 774 Forest Ave in Atlanta.

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Terminus 200 North Highland jones lang lasalle brad armstrong chris wagner
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.

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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.

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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.