NEWS

MidCity, South City Pursuing Tax Abatement For Alpharetta Project

Posted by on Dec 13, 2016 in Uncategorized

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

Posted by on Oct 14, 2016 in Uncategorized

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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Million Dollar Brokers

Posted by on Jun 3, 2016 in Atlanta Business Chronicle, Kirk Demetrops, MidCity Real Estate Partners, Uncategorized

Atlanta Commercial Board of Realtors salutes members of the 2016 Million Dollar Club. This year Kirk Demetrops, President of MidCity Real Estate Partners, was recognized for his production of 20+ million dollars.     For more information please click here.

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New developer takes on Roswell Road mixed-use project in Sandy Springs

Posted by on Jan 11, 2016 in Development, Kirk Demetrops, MidCity Real Estate Partners, Sandy Springs

Davis Development is the new developer of the mixed-use project planned for 6075-6077 Roswell Road, according to property owner Kirk Demetrops of MidCity Real Estate Partners. Camden USA pulled out of the high-profile project late last year.   “We got a strong group that intends to move forward with the project as approved,” Demetrops said, calling Georgia-based Davis a “really top-notch developer of multi-family housing.”   The 4-acre project would replace an existing office building and post office with 291 apartment units, commercial space and a parking deck. Construction may start late this year after existing tenants’ leases expire, Demetrops said.   The Davis project is next door to Mill Creek’s similar large-scale, mixed-use redevelopment of the Hilderbrand Court shopping center, which began demolition work last month.   Kirk S. Demetrops is president of MidCity Real Estate Partners   This article originally appeared in the Sandy Springs Reporter...

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Commentary: Congratulations on Sandy Springs’ 10th Birthday

Posted by on Dec 2, 2015 in Kirk Demetrops, Sandy Springs, Uncategorized

Congratulations to the city of Sandy Springs on turning 10! Prior to the city’s formation in 2005, many people worked for decades to make it happen.   Two primary goals of the innovative new city were to control the services provided to citizens/businesses and to control development. Due to the necessity of delivering services and the real estate recession of 2008-2012, we now see development—both new projects and how the city addresses future development—begin to have a significant impact on the direction of the city.   My perspective extends 36 years, having attended high school in Sandy Springs, lived half of those years here, and worked for companies all with a Sandy Springs address.   The great news in Sandy Springs regarding development is plentiful. The city’s southern boundary is improving with the Sandy Springs Gateway project at Windsor and other development moving up Roswell Road from there. The eastern boundary at Perimeter Center is truly seeing a live-work-play environment unfold.   Downtown Sandy Springs is poised for the biggest change, with perhaps the most local impact toward quality of life (a “real” downtown) wanted by many who live and work in Sandy Springs.  Projects underway or expected to start soon should create more development in downtown than has occurred in the last 20 years combined.   This is led by City Springs, the public-private partnership development under construction, that will deliver a new City Hall and performing arts venue, private mixed-use development and open space.  This development and others announced should create the critical mass needed. So what are the significant challenges?  I see two.  One, land use and zoning, and two, Roswell Road north of Abernathy to the city of Roswell border.   The city is currently in the process of updating its zoning ordinances and procedures. I commend the leadership of the mayor and council for initiating this. Lengthy, controversial zonings are counterproductive. From a developer’s perspective, time is usually not our ally.  Windows of opportunity open up in our business but do not remain forever.  A more efficient, interest-aligned process will benefit all stakeholders. Roswell Road north of Abernathy should be the city’s next big platform for change. The road is a primary artery serving a significant portion of the city. I believe more public-private initiatives will be needed.   As I look ahead, and knowing the probable developments to come out of the ground, I do see a city moving in a great direction and the new real estate developments having a significant contribution to the success of the city.   Kirk S. Demetrops is president of MidCity Real Estate Partners.   This Article Originally Appeared in the Sandy Springs Reporter For More Information, Please Click...

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MidCity Real Estate Partners Named One of Atlanta’s Top Commercial Developers – Office

Posted by on Nov 6, 2015 in Atlanta Business Chronicle, Kirk Demetrops, MidCity Real Estate Partners

MidCity Real Estate Partners was recently named the 4th largest Comemrcial Developer for Office space in Atlanta. To view the Atlanta Business Chronicle’s Big Book of lists, Click Here.

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More mixed use planned in Alpharetta

Posted by on Oct 23, 2015 in Alpharetta, Atlanta Business Chronicle, Development, Kirk Demetrops, MidCity Real Estate Partners

ALPHARETTA- The downtown area is ready for more mixed use, said Kirk Demetrops, president of MidCity Real Estate Partners. Final plans are underway for the 25-acre Alpharetta City Center, a public-private partnership transforming the area into a walkable, livable community that includes 27,500 square feet of restaurants, 28,340 square feet of outdoor dining and 48,560 square feet of retail, along with 168 residential units and 29,950 square feet of office space. This is surrounded by 87,900 square feet of open space that includes a town green. This Article Originally Appeared in the Atlanta Business Chronicle For More Information, Please Click...

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Crocker Partners and MidCity plan Sandy Springs project along Georgia 400

Posted by on Sep 29, 2015 in Alpharetta, Atlanta Business Chronicle, Completed Projects, Development, Kirk Demetrops, MidCity Plaza, MidCity Real Estate Partners, Reporter Newspapers, Roger White, Sandy Springs, The Griffin Company, Uncategorized

Developers in Atlanta’s central Perimeter are drawing up plans for more projects, as tenants look to expand while existing office space fills up.   The latest ambitions come from a joint venture between Atlanta’s MidCity Real Estate Partners and Florida-based Crocker Partners. The companies want to develop NorthPlace, which could include up to 370,000 square feet of office space.   The 3.7-acre site stands at Barfield Road and Georgia 400 in Sandy Springs and just southeast of the new Mercedes Benz USA headquarters. The site has been a target of development for years. Crocker bought it in 2007, just before the downturn. Today, Barfield Road is part of an active corridor connecting Hammond Drive, Mount Vernon Highway and Abernathy Road, an area home to blue chip companies such as UPS, Global Payments, and IBM (ISS).   Earlier this year, Mercedes Benz said it was relocating its headquarters from New Jersey to a site on Abernathy. Ashton Woods Homes also plans to convert the 76-acre site around the headquarters into a mix of townhomes, flats, apartments and retail. The development could feature more than 1,000 planned housing units.   Anticipating that residential growth, NorthPlace developers have plans for ground floor retail. The site’s density can also be adjusted based on the needs of tenants, and it could accommodate build-to-suit projects from 20,000 to 100,000 square feet. “What makes us different is that we can dial up the density or go smaller,” said Kirk Demetrops, president and founder of MidCity Real Estate Partners.   The joint venture has started marketing the property and needs significant pre-leasing before it would launch construction. Warner Summers – Architecture is designing the project.   Across the central Perimeter, plans for new projects show how much demand Atlanta’s largest single office district is seeing from prospective tenants — and how much the market’s class A space is tightening. Overall vacancy is the lowest in over eight years, with class A vacancy dropping to 11 percent, according to market data. Roughly 2 million square of tenants in the market have leases expiring over the next two years, Demetrops said.   Companies are also expanding.   Atlanta Business Chronicle is reporting today Enterprise software maker VMware Inc. (NYSE: VMW) plans to expand its Atlanta-based AirWatch business — a move that would create more than 300 jobs. Palo Alto, Calif.-based VMware is said to be scouting the central Perimeter and north Fulton for at least 50,000 square feet of space.     General Electric officials are also expected to tour buildings and sites across Atlanta as the company considers Georgia as a possibility to relocate its Connecticut headquarters. The Wall Street Journal recently reported a decision could come by the end of this year.   Big blocks of class A Perimeter office space are drying up, as new development has been limited by tighter lending and rising construction costs. The last speculative office building to break ground in the central Perimeter was almost 10 years ago, according to data from real estate services firm Cushman & Wakefield. One of the few class A blocks just became available after Newell Rubbermaid Inc. decided to move its corporate headquarters from one side of Georgia 400 to the other. Developers see an opportunity, especially along Abernathy and 400.   Later this year, Hines plans to...

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Crocker Partners and MidCity plan Sandy Springs project along Georgia 400

Posted by on Sep 16, 2015 in Uncategorized

Developers in Atlanta’s central Perimeter are drawing up plans for more projects, as tenants look to expand while existing office space fills up.   The latest ambitions come from a joint venture between Atlanta’s MidCity Real Estate Partners and Florida-based Crocker Partners. The companies want to develop NorthPlace, which could include up to 370,000 square feet of office space.   Click here to read the original article in the Atlanta Business...

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City Center Approved by Alpharetta

Posted by on May 20, 2015 in Alpharetta, Development, Kirk Demetrops, Roger White

ALPHARETTA, Ga. – In a 5-2 vote, the Alpharetta City Council approved plans for a new mixed-use City Center. With a packed council chambers, the developer, MidCity Real Estate Partners, pitched their $80 million plan May 18. The team has worked on similar projects such as the Woodstock downtown. The development includes retail and restaurants on the ground floors of the buildings in front of City Hall, with offices and apartments on the upper floors. Plans call for 165 for-rent apartments in the development. In total, there could be as much as 50,000 square feet of retail and 30,000 square feet of office in addition to the apartments. Forty-two single-family homes are also planned for the development, across Haynes Bridge Road at the intersection with Thompson Street. This Article Originally Ran in the Alpharetta-Roswell Revue & News For More Information, Please Click...

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