MidCity buys former Crawford HQ
MidCity Real Estate Partners is expanding its presence in the metro region’s largest and most active office submarket. MidCity has acquired the former Crawford & Co. building at the Perimeter and Georgia 400 for $3.1 million, or $36 a square foot. The building has been vacant since Crawford & Co. relocated in 2007. MidCity plans to completely restore the 85,000-square-foot former headquarters. Additional investment could exceed $7 million… Originally Published in the Atlanta Business Chronicle. Read More...
read moreHighwoods adds One Alliance for $140 Million
Highwoods Properties Inc. continues expanding its portfolio of intown trophy office towers. Highwoods (NYSE: HIW) has acquired One Alliance Center, a 20-story building in Buckhead, an affluent section north of downtown Atlanta that’s filled with the city’s densest concentration of luxury shopping, and several of its largest investment banking firms and commercial real estate companies. The Raleigh, N.C.-based real estate investment trust paid about $140 million for the 22-story tower. Its total investment is expected to be $143.4 million, or $259 per square foot. That includes the purchase price and $2.9 million in building and tenant improvements committed under existing leases… MidCity buys former Crawford HQ MidCity Real Estate Partners is expanding its presence in the metro region’s largest and most active office submarket… Originally Published in the Atlanta Business Chronicle. Read More...
read more$36M Office Park Planned for Sandy Springs
A new $36 million Sandy Springs office park is getting under way — the biggest commercial real estate project the city has seen in several years and a likely harbinger of more development to come. Atlanta’s MidCity Real Estate Partners, led by founder Kirk Demetrops, is developing the seven-building project at Barfield Road and Hammond Drive…. Originally Published in the Atlanta Business Chronicle. Read More...
read moreLaw Firm in talks for Terminus lease
Greenberg Traurig LLP is looking at Buckhead’s Terminus 200 office tower, where it could sign at least a 125,000-square-foot lease. Cousins Properties Inc., owner of the 25-story tower, has entered the early stages of negotiations with the law firm, a source familiar with the situation confirmed… Forum Development Group co-founder Ron Pfohl and The Griffin Cos. President Kirk Demetrops are launching their new firm, MidCity Real Estate Partners Inc. The partnership was forged as Atlanta building owners face pressure to restructure debt on many of their properties as the job market slows leasing and rents and values continue to fall. The situation is creating opportunities for firms like MidCity Real Estate Partners to buy buildings and developments that are struggling to lease up in the current market. Originally Published in the Atlanta Business Chronicle. Read More...
read moreReal estate vets aim to ‘reinvent’ properties
Forum Development Group co-founder Ron Pfohl and The Griffin Cos. President Kirk Demetrops are launching their new firm, MidCity Real Estate Partners Inc. The partnership was forged as Atlanta building owners face pressure to restructure debt on many of their properties as the job market slows leasing and rents and values continue to fall. The situation is creating opportunities for firms like MidCity Real Estate Partners to buy buildings and developments that are struggling to lease up in the current market. Originally Published in the Atlanta Business Chronicle. Read More...
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