Developers, users cozy up to condominiums
The benefits of owning their own buildings, combined with a lack of single-user facilities for sale, is driving demand for office, office/warehouse and (to a limited extent) retail condominiums among Atlanta-area businesses. Developers, meanwhile, often find working this niche of the property market more profitable in submarkets where, although occupancy is healthy, rents may be low… Farther north, The Griffin Co. sold out its 11,600-square-foot 50 Old Ivy office development in Buckhead upon completion last summer. Meanwhile, half of the 90,000 square feet of office on tap for its planned Centennial Walk mixed-use development in Roswell will be of the for-sale variety, according to Griffin Senior Vice President Kirk Demetrops… Originally Published in the Atlanta Business Chronicle. Read More...
read moreThe residential plug-in
It’s called The Manhattan, a 27-story condominium tower that developers think foreshadows residential development in the Central Perimeter area in coming years. Southeast Capital Partners Inc. is building the 222-unit high-rise as part of Perimeter Place, the massive mixed-use project by The Sembler Co. across from Perimeter Mall… With two mixed-use projects in the works, The Griffin Co. is bullish on the Central Perimeter. “It’s always been a great office market but underserved residentially compared to everywhere else,” said Senior Vice President Kirk Demetrops. “People want to live close to where they work. Mixed-use is a way to underwrite these projects because you can deliver some parts now and wait on others…” Originally Published in the Atlanta Business Chronicle. Read More...
read moreGriffin Co. to turn office complex into condos
Cosmopolitan North has become the latest project to follow the office-turned-residential trend in the Central Perimeter. Local developer The Griffin Co. plans to transform a 138,000-square-foot office complex on Barfield Road into mixed-use with 280 condominium units… Originally Published in the Atlanta Business Chronicle. Read More Here
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