Childress Klein, MidCity Plan Atlanta Office Park

Atlanta—Childress Klein and MidCity Real Estate Partners recently snapped up the NorthPlace project development site in Atlanta’s Central Perimeter submarket, paving the way for an office park featuring as much as 370,000 square feet. It’s a case of déjà vu for MidCity, which, in 2015, joined forces with Crocker Partners on the same project. No one’s talking dollar signs pertaining to the transaction with the seller, who was, according to Fulton County records, CP NorthPlace LLC, an entity controlled by Crocker Partners. While previous plans for NorthPlace called for three buildings, Childress Klein and MidCity envision two office towers on the 3.7-acre site; one offering 250,000 square feet and the other featuring 120,000 square feet. MidCity will manage construction operations for the project, which should find a warm reception. Demand in Central Perimeter appears to be none too shabby, particularly if dollar signs tell the story. Class A asking rents in the submarket reached almost $28.5 per square-foot in the fourth quarter of 2016, beating out metro Atlanta’s record high Class A average of $27.5 per square-foot by nearly an entire dollar. As Kirk Demetrops, president of MidCity Real Estate Partners, said in a prepared statement, “Central Perimeter continues to be one of Atlanta’s most desirable markets for office users.” MidCity will spearhead leasing at the Warner Summers-designed NorthPlace, targeting corporate and medical office users. This article originally appeared in CP Executive. Click here for the original article.  ...

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Childress Klein, MidCity to Develop 370,000 SF Office Project in Atlanta’s Central Perimeter

SANDY SPRINGS, GA. — A joint venture between Childress Klein and MidCity Real Estate Partners has purchased 3.7 acres of land in Sandy Springs for the development of NorthPlace, a two-building office campus totaling 370,000 square feet. Situated within Atlanta’s Central Perimeter office submarket, the office development will sit at the intersection of Barfield Road and Mount Vernon Highway, one block from the new Mercedes-Benz U.S. headquarters and two blocks from the Sandy Springs MARTA station. Comprising a 250,000-square-foot building and 120,000-square-foot building, NorthPlace will offer signage visibility along Ga. 400. Childress Klein and MidCity will co-develop the property, and MidCity will oversee day-to-day construction responsibilities and will market the project to prospective corporate and medical tenants. A timeline for construction has not been announced at this time.   Click here to read the original article in REBusiness Online...

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Crane Watch Update: Colony Square, North Place, 1105 West Peachtree

A new year kicks off with several big projects entering the planning and development pipeline — from the far northern Atlanta suburbs to Midtown.   Atlanta Business Chronicle is keeping track of the latest with its interactive feature Crane Watch, a map of all the new projects on your skyline and in your neighborhoods. See the updated Crane Watch map here.   In Sandy Springs, Childress Klein and MidCity Real Estate Partners recently formed a joint venture on a 3.7-acre property at Barfield Road and Mount Vernon Highway. The project is called NorthPlace.   Click here to view the original article in the Atlanta Business Chronicle.   ...

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New momentum for big Sandy Springs office project

Plans for a 370,000-square-foot Sandy Springs office project overlooking Georgia 400 may have new momentum.   Atlanta’s Childress Klein and MidCity Real Estate Partners recently formed a new joint venture on the 3.7-acre property at Barfield Road and Mount Vernon Highway.   Click here to view the original article in the Atlanta Business Chronicle. 

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MidCity, South City Pursuing Tax Abatement For Alpharetta Project

Developers for the mixed-use phase of Alpharetta’s City Center project are pursuing more than $70M in bond financing to get started.   Under the moniker MMS Alpharetta, the JV team of MidCity Real Estate Partners, South City Partners and Morris & Fellows is slated to develop three mixed-use buildings and a handful of freestanding restaurants in the 25-acre master planned Alpharetta City Center.   Now, $72.5M in revenue bonds are set to be approved, which will translate into property tax breaks for the developers over the course of a decade. They would fund a mix of office, apartments, retail and restaurant spaces, according to documents filed in Fulton Superior Court.   Click here to view the original article in the Bisnow...

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Alpharetta City Center on tap for downtown

In February 2015, with input from a variety of planning and development partners, the city of Alpharetta published a Downtown Master Plan, which was designed to accommodate the area’s growth and transform the downtown business district. The primary component of the plan, City Center, is a $45 million redevelopment project covering 25 acres in the heart of downtown.   “Alpharetta has envisioned a revitalization of the downtown area for more than a decade,” said Alpharetta Mayor Pro Tem Chris Owens. “On two previous occasions, the City Center project was planned, but outside market forces caused the project plans to be postponed.”   Click here to view the original article in the Atlanta Business...

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