News
THE DEAL SHEET
January 31, 2012
| Buckhead's Lenox Building is getting ready to sell for ?better pricing than the market expected.? That's according to Cushman & Wakefield's Stewart Calhoun, who's helping sell the 348k SF tower off Lenox Road. | ||
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| Stewart spoke last night during the Ackerman & Co investor conference at the Capital City Club in downtown. Stewart (who marketed the building for Clarion Partners along with Cushman & Wakefield's David Meline) offered little more info, including who the party was that would buy it. ?It's a true value-add Buckhead play,? he said, adding that they fielded 20 offers. ?We'll end up getting much better pricing than the market expected,? he says, and that it's indicative of ?more signs of recovery.? | ||
| LEASING | ||
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| Floor and Decor Outlets of America has inked a 31k SF deal at Lakewood II in Smyrna, owned by Parkway Properties. PM Realty Group's Bill Weghorst and Chip Roach brokered for the landlord while Lavista Associates' Don Perry represented the retailer. | ||
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| Urban Design Group has leased 7,500 SF at the Prominence building in Buckhead. Cresa's Wes Vaughan brokered the deal for the architectural firm. | ||
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| Little Alley Steak at 955 Canton Street is scheduled to open Feb. 27. The ?butcher-inspired? steakhouse will locate in historic Roswell and is run by restauranteurs Hicham Azhari and Fikret Kovac, responsible for Maxim's in Paris and Little Alley tapas in Roswell. | ||
| SALES | ||
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| Ackerman & Co's Andrew Murphy and Jason Powell (above) brokered the sale of Mountain Creek Plaza Shopping Center in Waynesville, NC. The 50k SF BI-LO anchored retail center sold for nearly $3.4M to a private investor out of Florida. | ||
| DEVELOPMENT | ||
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| Panattoni Development Co has inked a 900k SF build-to-suit deal with Georgia-Pacific Consumer Products in Henry County. Colliers International's Sean Boswell brokered the deal for the tenant. | ||
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| Mitsubishi Electric Cooling & Heating HQ is breaking ground in Suwanee with IDI developing the 500k SF facility at the Huntcrest Business Center. Mitsubishi is expanding and consolidating from 350k SF in three buildings into the single facility. | ||
| MANAGEMENT | ||
| Lincoln Property Co has tapped former Resource Real Estate Partners' Michael Howell to oversee leasing on its 15-building, nearly 2M SF North Fulton portfolio that Duke Realty owns. | ||
| EVENTS | ||
| Attention all brokers. NAIOP's last day for its 19th Annual Million Dollar Club Award applications is noon, Feb. 9. The ceremony is scheduled for March 15 at the Buckhead Theatre. | ||
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| Seven Oaks Co's CEO Bob Voyles will be on tap to moderate a panel for CREW Atlanta concerning the upcoming transportation tax vote. The event is 11:30am, Feb. 2 at the Coca-Cola Co building downtown and will include Metro Chamber of Commerce's Dave Williams, Atlanta Belt Line's COO Lisa Gordon and ARC's Chairman Tad Leithead. | ||
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Join us for our Atlanta Power Networking on Feb 7 at the Cantina Tequila & Tapas Bar. 2 hours of open bar, appetizers, and networking with Atlanta's finest. Sign up here. | ||
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