Focus Brands headquarters in Sandy Springs sells for $18 million
The corporate headquarters for Atlanta restaurant franchisor Focus Brands Inc. has sold for $18.3 million. Crossgate Partners bought the 63,049-square-foot building in Sandy Springs. The seller was MidCity Real Estate Partners, the Atlanta real estate company that five years ago took a chance and purchased the former Crawford & Co. headquarters building when it was completely vacant. Two years later, MidCity struck a big lease with Focus Brands, the franchisor and operator of more than 5,000 stores in 60 countries. Gary Lee, with Marcus & Millichap, brokered the sale of the building, which is part of the Glenridge Springs mixed-use development at Glenridge Drive and Interstate 285. To see the original article in the Atlanta Business Chronicle: Click here...
read more120-room boutique hotel planned for Alpharetta
The hotel would sit in walking distance to the $85 million next phase of Alpharetta’s City Center project that’s bringing 105,000 square feet of restaurants and retail; three acres of green space and gardens; 36,000 square feet of office; and 168 apartments. It’s from the Atlanta development team of Morris & Fellows (retail and restaurants), MidCity Real Estate Partners (office) and South City Partners (apartments). So far the City Center has landed restaurants including a new location of Highland Bakery. Click here to read the original article in the Atlanta Business Chronicle....
read moreAlpharetta City Center breaks ground, reveals more tenants
The roughly $85 million next phase of Alpharetta City Center broke ground on Thursday, a project Mayor David Belle Isle called one of the biggest moments in the city’s history. An Atlanta development team of Morris & Fellows, MidCity Real Estate Partners and South City Partners recently completed the purchase of just over 4 acres, as Atlanta Business Chronicle reported earlier this month. The project will include 105,000 square feet of restaurants and retail (Morris & Fellows); three acres of greenspace and gardens; 36,000 square feet of office (MidCity Real Estate Partners); and 168 apartments (South City Partners). Click here to view the original article in the Atlanta Business...
read moreChildress 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. ...
read moreMillion Dollar Brokers
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.
read moreNew developer takes on Roswell Road mixed-use project in 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...
read more