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. ...
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 moreCommentary: Congratulations on Sandy Springs’ 10th Birthday
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...
read moreMidCity Real Estate Partners Named One of Atlanta’s Top Commercial Developers – Office
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.
read moreMore mixed use planned in Alpharetta
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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