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October 29, 2019

Buckhead's New Stock Of Hotels To Rely On Food, Locals

Hear from major tenants Chewy.com, TireHub, Saddle Creek Logistics and BroadRange Logistics at Southeast Industrial & Logistics Summit Nov. 12

There is a merging of trends that are benefiting hotel developers.

On the one hand, hotel customers are growing younger and want unique experiences in boutique hotels, but in the heart of urban centers. At the same time, mall owners are looking to get rid of the sea of asphalt around their properties with new developments.

Buckhead's New Stock Of Hotels To Rely On Food, Locals

Hotel developers are taking those desires and building lifestyle hotels on mall properties, Songy Highroads CEO David Songy said."It's really hard to find a parcel in Buckhead to do something of that magnitude,” Songy said.Songy was part of a panel of hotel developers at Bisnow's Future of Buckhead event last…

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Grubb Properties Pays Nearly $50M For Memorial Drive Apartments

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Grubb Properties is making a nearly $50M bet on multifamily along Memorial Drive in Atlanta.The Charlotte-based firm purchased The George and The Leonard, two apartment communities totaling 217 units just down the road from the historic Oakland Cemetery. The deal includes…

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Coworking For America: Presidential Campaigns Have Spent Over $500K On Flexible Offices This Year Alone

The Democratic presidential candidates have rapidly built up their campaign infrastructure this year as they compete to take on Donald Trump, and many of them have turned to flexible workspace providers like WeWork, Regus and Knotel to scale quickly.

Eleven presidential campaigns have spent over $550K combined to lease space with at least eight separate coworking providers this year, a Bisnow analysis of campaign spending data shows. 

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WeWork Sued For Breach Of Contract Over Continuous Construction

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One of WeWork's San Francisco landlords is suing the beleaguered coworking company for breach of contract, alleging it repeatedly violated its lease agreement with noisy tenant-improvement construction during business hours. 300 Prospect Properties Inc., a subsidiary of landlord Brothers International, which owns 180 Sansome St., filed the lawsuit in San Francisco County Superior…

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Welcome To Europe's Economic Boomtown

MANCHESTER, UK — Manchester, the English city that gave the world Manchester United Football Club, split the atom and invented the screw thread, is a boomtown. Its phenomenal economic growth rate puts most of Europe to shame.

Yet real estate investors love it because it feels safe. Whilst the European Union grows at 1.2% to 1.4% a year, and the UK by 1.7%, Manchester grows by that much each quarter (and some parts of the city appreciably faster). Official data lags behind economic reality, which is assumed to be a fairly steady 5% to 7% GVA growth annually, according to the Centre for Economics and Business Research.

The rate of business formation, and rate of growth of existing businesses are way above the national trend, largely thanks to the tech sector. It is no surprise that the property business has been moving in fast.

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Beyond The Bio: 16 Questions With Jefferson Apartment Group CEO Jim Butz

 

This series profiles men and women in commercial real estate who have profoundly transformed our neighborhoods and reshaped our cities, businesses and lifestyles. 

The multifamily real estate company Jim Butz founded turned 10 years old this summer. 

Butz co-founded Jefferson Apartment Group along with Greg Lamb in June 2009. The company has spent the last decade growing its portfolio along the East Coast. The Northern Virginia-based firm now owns over 30 apartment communities in the Boston, Philadelphia, Baltimore, D.C., Orlando, Tampa and South Florida markets. 

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