Loudermilk Selling 80k SF+ Of Midtown Mile Properties
A slew of Midtown Mile retail landmarks is hitting the market as The Loudermilk Cos refocuses on Buckhead.
Loudermilk has put more than 85k SF of Peachtree Street properties on the market, all of which are leased to a number of banner retailers, including Five Guys Burgers & Fries, QuikTrip, Sprint, BB&T, Starbucks and Fresh2Order.
The portfolio also includes a parking lot on Juniper Street that could act as a major Midtown development play. “We're really focusing on Buckhead. So from a capital standpoint, I think it make sense," says Loudermilk's Robin Loudermilk. "I'll probably kick myself once I sell them, but you can't own everything."
The portfolio includes the 29k SF street-level retail called Shops at Viewpoint at 855 Peachtree condo tower, the 21k SF Shops at Spire condo tower, the 4,500 SF Shops at Seventh condo building at 867 Peachtree St (above); the 21k SF 800 Peachtree St street-level retail and the 13k SF 805 Peachtree St retail.
Also included are three parking decks and a handful of associated surface parking lots. Loudermilk has tapped Skyline Seven's Kenny Holzer, Elliott Kyle and Chase Murphy to market the properties.
Loudermilk has owned these prime spots for nearly two decades, and even co-developed Spire condo tower in a JV with Novare Group. But lately, Loudermilk has focused its development acumen and capital on its home turf of Buckhead Village, including redeveloping the former Aaron Rents HQ building, The Charles condo tower, the 359 East Paces Ferry office project and the 371 East Paces Ferry medical office building project.