MidCity Sells 5616 Peachtree Loft Office in Downtown Chamblee, GA
ATLANTA, GA (July 1, 2025) – MidCity has sold 5616 Peachtree, a 36,495 SF state-of-the-art Loft Office in Downtown Chamblee, GA. The Adaptive Reuse Project was delivered by MidCity in the Spring of 2020. The project is 95% Leased to Winter Construction, Audubon, Architects Orange and ADAPT. The Buyer was an affiliate of the DiGeronimo Companies. About MidCity Real Estate Partners MidCity Real Estate Partners invests/develops/redevelops Commercial, Residential and Mixed-Use Properties. Projects range from Award Winning Public-Private Town Centers to Vacant Office Buildings. MidCity excels at Value Creation through each phase of the CRE Business Cycle MidCity was founded in 2009 by Kirk S Demetrops, as successor company to The Griffin Company, a 35-year-old full service commercial real estate development and construction company where Mr. Demetrops was President. With a combined 80 years of experience, MidCity offers a full range of expertise including: Acquisition/Disposition, Development and Construction Management, Master Developer, Marketing/Sales/Leasing, Asset Management and Advisory Services. ### If you would like more information about this topic, please call MidCity at 678-990-6254 Download the full press release...
read moreMidCity Real Estate Partners Named Among Best in Atlanta Real Estate Awards Honorees for 2025
ATLANTA, GA (February 26, 2025) – MidCity Real Estate Partners has been named among the honorees in the Atlanta Business Chronicle’s Best in Atlanta Real Estate Awards for 2025, recognizing the region’s top commercial real estate firms, projects, and professionals. About MidCity Real Estate Partners MidCity Real Estate Partners invests/develops/redevelops Commercial, Residential and Mixed-Use Properties. Projects range from Award Winning Public-Private Town Centers to Vacant Office Buildings. MidCity excels at Value Creation through each phase of the CRE Business Cycle MidCity was founded in 2009 by Kirk S Demetrops, as successor company to The Griffin Company, a 35-year-old full service commercial real estate development and construction company where Mr. Demetrops was President. With a combined 80 years of experience, MidCity offers a full range of expertise including: Acquisition/Disposition, Development and Construction Management, Master Developer, Marketing/Sales/Leasing, Asset Management and Advisory Services. ### If you would like more information about this topic, please call MidCity at...
read moreMidCity/CASTO JV Sells The Tomlin Apartment Community within Snellville’s The Grove at Towne Center
ATLANTA, GA (October 30, 2024) – MidCity/CASTO JV has sold The Tomlin, a 288 Unit Luxury Apartment complex within the $140M Grove at Towne Center developed by MidCity/CASTO in a Public-Private Partnership with the City of Snellville. The Buyer was a JV between Penler and The Carlyle Group. About MidCity Real Estate Partners MidCity Real Estate Partners invests/develops/redevelops Commercial, Residential and Mixed-Use Properties. Projects range from Award Winning Public-Private Town Centers to Vacant Office Buildings. MidCity excels at Value Creation through each phase of the CRE Business Cycle MidCity was founded in 2009 by Kirk S Demetrops, as successor company to The Griffin Company, a 35-year-old full service commercial real estate development and construction company where Mr. Demetrops was President. With a combined 80 years of experience, MidCity offers a full range of expertise including: Acquisition/Disposition, Development and Construction Management, Master Developer, Marketing/Sales/Leasing, Asset Management and Advisory Services. ### If you would like more information about this topic, please call MidCity at 678-990-6254 Download the full press release...
read moreAtlanta Suburb Wraps Up Construction on New Town Center Commercial District
The Atlanta suburb of Snellville, Georgia, has completed construction of a new town center, the latest city in the area trying to forge an identity through a commercial development project. The Grove at Towne Center, a $140 million project in the works for about a decade, includes residential, retail, office, dining and healthcare. The development is arranged in a town square format with sidewalks and a central landscaped area. Snellville follows other Atlanta suburbs that have created new commercial village areas to attract businesses, residents and visitors and to foster an identity as a place with a town center. The cities of Alpharetta, Fayetteville, Suwanee and Woodstock in the Atlanta area have created similar commercial developments. The city of Snellville partnered with Columbus, Ohio-based developer Casto, Atlanta-based MidCity Real Estate Partners and Gwinnett County to create the 18-acre Grove at Towne Center. Greystar, the largest U.S. apartment owner, operates the 288-unit Tomlin apartment complex. Thrive will operate the coworking space. Retail is spread across multiple buildings, including a 22,000-square-foot building with a craft brewery run by Crooked Can Brewing Co. Northside Hospital is the operator of a medical office, ambulatory surgery center and healthcare clinic. The library is a branch of the Gwinnett County Public Library system. The new village also includes a parking deck and direct access to the Snellville Greenway, a five-mile walking path under development that will connect with Lawrenceville, Georgia. For the Record Shannon Dixon and Kristen Dykes at Casto and Kirk Demetrops at MidCity Real Estate Partners are retail and restaurant leasing agents. Chuck Hull and Andy Amor at Smallwood provided architecture, master planning and landscape architecture services. TSW Architects, Place Maker Design and Dynamik Design also provided architecture and master planning services. Fortune-Johnson, Hodges & Hicks and Winter Construction are general contractors. Click here to view the original story on...
read moreLandlord Giveaways Help Fuel Burst Of Atlanta Office Leasing
Companies leased 2.6M SF during the second quarter, a milestone not seen since Q1 2019, according to a Savills report. Leasing activity jumped 63% year-over-year and ticked up from 2.4M SF of leases signed in the first quarter. Office tenants have been spurred to agree to deals as they gain more clarity on their updated office footprint needs in a hybrid work world. “It’s a sign that business is happening and companies are making real estate decisions,” T. Dallas Smith & Co. principal Cedric Matheny said. “They’ve done all the rightsizing that they needed to do.” But they’re also finding sweetheart deals as landlords race to grab leases. It is increasingly common for landlords to offer a month of free rent for every year of a lease, brokers told Bisnow, a huge jump from the flat rate of two months regardless of lease term more than a year ago. For major companies taking down a big block of space, Matheny said some landlords are even agreeing to 1.5 months free for every year — 15 months of free rent on a 10-year lease. “We’re getting what we ask for in free rent,” Matheny said. Landlords are digging deeper into their pockets to fund tenant build-outs, a sweetener to land a deal that eats at owners’ bottom line. Tenant improvement allowances averaged between $115 and $120 per SF in the second quarter, up from $70 to $100 per SF two years ago, according to Savills. “TI packages have to be incredibly hefty, which are really hard to digest in Atlanta,” Avison Young principal Kirk Rich said. “Inflation kind of put those on a level playing field with other urban markets around the country.” Those ballooning TI packages allow landlords to keep their face rents high, and with the delivery of new office buildings hitting the market with ample available space, asking rents have been on the rise. Asking rents reached $32.61 per SF in the second quarter, a more than 5% increase year-over-year, and buildings in the central business district now top $40 per SF in average asking rent, according to Savills. All the leasing in the second quarter did little to reverse Metro Atlanta office landlords’ fortunes. More than 1M SF of office space came back on the market in the first half of the year, according to Cushman & Wakefield. Available sublease space rose 500K SF year-over-year for a total of 8.7M SF in the second quarter, according to Savills. Developers are underway with 1.3M SF of new office space, even as some new buildings have struggled to land tenants. The combined headwinds pushed the overall vacancy rate to 25% metro-wide and nearly 30% in the core Atlanta office markets of Buckhead, Midtown and Downtown, Cushman & Wakefield reported. While tenant activity has improved, the Atlanta economy continues to see a shrinkage in the types of jobs that typically are housed in offices. While nonfarm job numbers have grown since the crash in 2020, up from 2.5 million in the region in May 2020 to nearly 3.1 million in May this year, nonfarm office jobs have continued to contract each quarter metro-wide since the middle of last year, according to Savills, citing Federal Reserve data. “I don’t foresee each quarter [leasing activity] going up,” said Ally Juratovac, a research associate with Savills in Atlanta who authored the report. “I think a lot of them are reducing their square footage. Tech is definitely downsizing.” Of the 10 largest office deals in the quarter, most were either renewals or companies relocating their local offices to other buildings, according to Savills. Southern Company Gas inked the largest deal of...
read moreMidCity Signs Two New Leases, 5616 Peachtree Loft Office in Downtown Chamblee, GA now 95% Leased
ATLANTA, GA (February 1, 2024) – MidCity welcomes Architects Orange and ADAPT. Architects Orange, headquartered in California, is a multi-office full-service architect firm specializing in over 15 disciplines. ADAPT is an Atlanta based sports physical therapy clinic providing services in Fitness, Athletics, Therapy and Advanced therapeutic training programs. About MidCity Real Estate Partners MidCity Real Estate Partners invests/develops/redevelops Commercial, Residential and Mixed-Use Properties. Projects range from Award Winning Public-Private Town Centers to Vacant Office Buildings. MidCity excels at Value Creation through each phase of the CRE Business Cycle MidCity was founded in 2009 by Kirk S Demetrops, as successor company to The Griffin Company, a 35-year-old full service commercial real estate development and construction company where Mr. Demetrops was President. With a combined 80 years of experience, MidCity offers a full range of expertise including: Acquisition/Disposition, Development and Construction Management, Master Developer, Marketing/Sales/Leasing, Asset Management and Advisory Services. Current projects include The Grove at Towne Center (Snellville, GA), 5616 Peachtree (Chamblee, GA) and NorthPlace (Sandy Springs, GA). Previous projects include Alpharetta City Center, Focus Brands Headquarters, JAS Worldwide Headquarters, & Hammond 400 Office Park. ### If you would like more information about this topic, please call MidCity at...
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