News
THE DEAL SHEET
March 27, 2012
| Ackerman & Co's prolific MOB development pipeline has targeted Henry Co again. | ||
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| Ackerman & Co is partnering with Piedmont Henry Hospital to develop a 60k SF medical office buliding in Stockbridge (clearly, those two people are seeing a doctor about their complexion). Called Henry Physician Center, the Class-A $11M MOB will start to rise this summer at the corner of Eagle's Landing Parkway and Rock Quarry Road. And Ackerman Medical's John Willig tells us it's already half preleased, with tenants including Southern Orthopaedic Specialists. John and Commercial Assets Group' s John Tallant have been tapped to lease the property when completed in 2013. Ackerman has developed SouthCrest Medical Plazas I and II and Northpark I in Henry. | ||
| LEASES | ||
| NTS Realty Holdings says in its annual report that its nearly 200k SF Peachtree Corporate Center property is 74% occupied as of December, with 37 tenants not taking up more than 10% of net rentalble space. | ||
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| Remark Media's has $1.1M left on its lease obligations at Six Concourse Corporate Center in Central Perimeter, the company states in SEC filings. The lease on its 12k SF HQ space expires in 2016. | ||
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| While Travelport is working on a renewal, it's got a couple of years left on its lease. According to a recent company annual report, Travelport's lease at 300 Galleria Parkway expires December 2014.We reported earlier this month the company was in talks with its landlord to renew 150k SF there. | ||
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| American Roadhouse, a Virginia Highlands breakfast standard, is opening its next location at Pencil Factory Flats & Shops off Decatur Street this spring. | ||
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| How much did Cousins Properties give ClubCorp for the Commerce Club overhaul? According to ClubCorp's annual report, Cousins provided $2.3M in TI toward a total of $6.5M in design and construction of the private club space atop One Ninety One Peachtree during its lease restructure in 2010. | ||
| SALES | ||
| Cocke Finkelstein's CFO Todd McKissick informed us this week that his company just bough t four apartment communities in Florida, including Hunter's Ridge at Walden Lake (not quite as famous as its Pond cousin), Mallards of Brandywine in Deland, Pierpoint, and The Grove in Port Orange. All four add up to a whopping 900 units. Todd says the company paid $50M for the portfolio. | ||
| DEVELOPMENT | ||
| Tvsdesign has been tapped by Chattahoochee Technical College in Marietta to help design and develop a new 63,800 SF LEED Silver classroom building. The new facility will house the TV and audio studios, science labs, classrooms, culinary teaching kitchen, and interior design studios (and maybe our new TV studios). | ||
| MANAGEMENT | ||
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| American Realty Advisors has awarded PM Realty Group the leasing and management assignment for Piedmont Center Buildings 9-12, encompassing more than 500k SF of Buckhead office space. ARA assumed control of the ownership of the four-building portfolio in February. | ||
| PEOPLE | ||
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| David Edwards has been tapped as the director of development services for Batson-Cook Development Co to help grow fee-based business services. David was previously president of Odyssey Development. | ||
| EVENTS | ||
| This Saturday Newmark Knight Frank's own John Poulos and many other CRE pros will be on hand for the first annual Andee's Army 5k Run/Walk at Holy Innocents Episcopal School in Sandy Springs. And tomorrow, Teela Taqueria in Sandy Springs will donate a percentage of its gross receipts to the charity named in honor of John's daughter Andee. | ||
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| On April 28th, the Atlanta BeltLine is holding its Northside 5k with a rematch between the Atlanta police and fire departments at Tanyard Creek Park. Registration here. | ||
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| This Wednesday, starting at 11:30am, TPA Realty Services will host The Masters. Well, obviously not the real Masters. But a broker event at its Johns Creek Ridge I, a 102k SF MOB on Hospital Parkway in Johns Creek. | ||
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| Have you got what it takes to rapel over a 20-story office tower? Special Olympics Georgia is seeking 80 volunteers to rapel over Overlook III during "Over The Edge" event in its efforts to raise $1,000. Organizers will host the charity event on April 21. You cansign up here (if you've got the guts). | ||
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| The Young Council of Realtors will be hosting its bowling and networking night at 300 Atlanta (yes, that's a bowling alley) for its first annual YCR Bowling Cup on April 19. While we're sure there will be awards for the best score, YCR is also giving awards for the craziest bowling outfits (guess it's time to break out our Speedos). | ||
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| NAIOP will be hosting its 20th Annual Georgia School Challenge April 11 at Bank of America Plaza's conference room. | ||
| ODDS N' ENDS | ||
