Parkside Partners Eyeing Two More Loft Office Projects
Fresh from selling its signature West Midtown loft office, Parkside Partners is embarking on more development.
Third & Urban, with money from JPMorgan, purchased Parkside@Armour, a 37k SF loft office redevelopment at 225 Ottley Dr that Parkside completely filled last year. It's also the one adjacent to SweetWater Brewery, and one of the pioneering loft office projects in the area. And that is prompting Parkside on a new project: 1427 Mayson St in Midtown. The 8k facility will also become Parkside's newest project called Armour Overlook (here), converting the former warehouse into a boutique loft office by next summer.
Parkside's Kyle Jenks (on right with partner Gary Matthews) tells us the sale is forcing his company to move to the new project as well. And it's not the only loft office project in the pipeline. Parkside recently purchased 2830 Dresden Dr in Chamblee, a vacant 27,400 SF building that will be renovated as Parkside 85 and target small office tenants.
It's been a big year so far for Kyle and company, having just been awarded the redevelopment of the Chamblee MARTA Station assignment from the transit organization in a JV with Pattillo Industrial Real Estate that will see 38k SF of office and 13k SF of retail. It's an area Kyle says he's as bullish on as he is West Midtown. “There's no doubt the demand for loft office product continues to be strong,” he says. “What's happening in Chamblee...that's clearly becoming the next West Midtown.”