August 21, 2012
Former Hawk Joe Johnson’s Atlanta home for sale
Former Atlanta Hawk Joe Johnson listed his Sandy Springs home for $4.7 million.
After seven years with the Atlanta Hawks, Joe Johnson was traded last month to the Brooklyn Nets. He’s apparently not planning on coming back because he’s put his 7-bedroom Sandy Springs home on the market for $4.7 million.
According to Curbed Atlanta, the 13,822-square-foot home is “remarkably tasteful” and the former NBA All Star “clearly enlisted the help of a professional in the design.”
August 20, 2012
Atlanta Life Financial Group heading to 191 Peachtree
Atlanta Life Financial Group will be moving to the 25th and 26th floors of One Ninety One Peachtree Tower.
Cousins Properties has announced that the Atlanta Life Financial Group will be moving its headquarters to One Ninety One Peachtree Tower in November.
The 107-year-old, privately-held financial services company will lease 33,137 square feet on the 25th and 26th floors of the 50-story building.
The new office space will be about half-a-mile from Atlanta Life’s current headquarters at 100 Auburn Avenue.
In a news release, Atlanta Life’s president and CEO, William J. Taggart, discussed the decision to move to the 191 building.
“We have greatly enjoyed our 32 years at our current headquarters and cherish the great memories and history of Auburn Avenue,” Taggart said. “After assessing various options, the opportunity to move to One Ninety One Peachtree was simply too good to pass up. Cousins is a world-class organization and One Ninety One Peachtree is one of the finest buildings in Atlanta and the Southeast.”
Atlanta Life opted to sell the Auburn Avenue space to Georgia State University earlier this year. According to the Atlanta Journal-Constitution, the school plans to house its “GSU Honors College, the alumni and admissions offices and a welcome center on the Atlanta Life site.”
Michael Tabb of Red Rock Global and Pete Shelton of Colliers International represented Atlanta Life in the transaction.
March 14, 2012
Lenox Building sold for $59.3 million
The Lenox Building in Buckhead.
The Lenox Building, a 19-story office tower in Buckhead, has been sold to a South Florida commercial real estate firm.
Parmenter Realty Partners acquired the 350,000-square-foot property from Clarion Partners for $59.3 million, according to CoStar Group. The price translates to $170 per square foot.
CoStar Group reports that Clarion picked up the property in spring 2000 in a trade with The Retail Property Trust for $71 million, or $204 per square foot.
The Buckhead office property is attached to Lenox Square Mall and the JW Marriott Hotel. In addition, it has direct access to the Lenox MARTA station.
The Parmenter acquisition team included Southeast Region executives John Davidson, Michael Holmes, and Reginald Mackey. Cushman & Wakefield’s Southeast Capital Markets Group represented the seller and Cushman & Wakefield Sonnenblick Goldman assisted in arranging acquisition financing.
March 13, 2012
Hotels taking shape at 10th and Williams
An artist's rendition of the dual-branded Hilton Garden Inn and Homewood Suites by Hilton being built in Atlanta Midtown.
By now, commuters leaving Midtown Atlanta to get on I-75 North from 10th Street have gotten used to the construction at 10th and Williams Street.
The crane remains high in the sky but the building appears to be taking shape at the corner property.
The construction is part of a hotel project that will feature a dual-branded Hilton Garden Inn and Homewood Suites by Hilton. The property had been an undeveloped parking lot previously.
Both hotels will be housed in a 12-story tower. Between the two of them, there will be 226 rooms, meeting and conference facilities accommodating up to 200 people, a 110-seat restaurant and lounge, an outdoor elevated pool and spa, a fitness center and valet parking. That last feature will be key in Midtown.
Why the dual branding? According to the developer of the project, North Point Hospitality Group Inc. of Alpharetta, having the two hotels side-by-side will allow them to “better accommodate a wide range of guests’ lodging needs for the business and leisure traveler in the Midtown area.”
The building, which was designed by Lindsay Pope Brayfield Clifford & Associates, is scheduled to open in the first quarter of 2013.
March 12, 2012
Lake Hartwell peninsula selling for $17.5 million
This Lake Hartwell peninsula is selling for $17.5 million.
We’re going about two hours outside Atlanta today to feature what has to be one of most unusual home listings up for sale currently.
There’s an entire peninsula – all 23 acres of it – for sale on Lake Hartwell. According to the listing, the home on the property is almost 5,000 square feet with four bedrooms and seven baths (three of them half baths). (more…)
March 9, 2012
Silhouette Midtown has new owners
The Silhouette Midtown on Peachtree Street.
The Silhouette Midtown office building has a new owner, according to the Atlanta Business Chronicle.
The Biz Chron reports that REDUS Georgia Commercial LLC acquired the 10-story property at 1447 Peachtree Street for $8.1 million, or slightly less than $70 a foot. (more…)
March 8, 2012
Terrell Owens’ home in Lithonia is priced to move
Front of Terrell Owens’ house in Lithonia.
You don’t have to be an NFL superstar to afford Terrell Owens’ suburban Atlanta home. Even though it was once featured on MTV’s Cribs, this six-bedroom house in Lithonia is priced to move at just $695,000.
That appears to be a fair amount less than what the house might be worth. According to Dekalb County real estate records, the total appraised value for the property in 2011 was $1,330,200. The home’s listing on Trulia had a price of $1,500,000. And, over on Zillow.com, the Zestimate was $1,274,900. (more…)
March 8, 2012
Atlanta home prices slide 7.4% in January
Home prices for the metro-Atlanta area declined 7.4 percent in January, according to CoreLogic.
The firm said in a statement that if distressed property sales were excluded the drop in home prices would have been 2.6 percent. (more…)
March 7, 2012
CBRE helps Buckhead Place secure $50 million in financing
05 Buckhead, a 21-story apartment building with 155 units, is part of Buckhead Place.
Whoever said homeowners were the only ones taking advantage of low interest rates?
Last week, the owners of Buckhead Place, the mixed-use located at the corner of Peachtree Road and Piedmont Road, secured $50 million in financing at a sub-4 percent interest rate, according to a press release from CBRE Group. CBRE’s Capital Markets group arranged the financing for the owners, Buckhead Place LLC, a subsidiary of the privately-held JH Holdings LTD, through their advisor, Coro Realty Advisors. (more…)
March 6, 2012
City approves design-build contract for Atlanta Streetcar
Map of the Atlanta Streetcar route. (via City of Atlanta)
After the Beltline, the most ambitious transportation project underway in Atlanta is the city’s proposed 2.6-mile streetcar line.
MARTA will operate the Atlanta Streetcar and yesterday the MARTA board selected San Francisco-based URS Corporation as the winner of the design-build contract for the project. (more…)