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 moreYear in review: What 2012 was about, for Sandy Springs
In 2012, Sandy Springs began a time of rapid change. The city settled lawsuits that had dragged on for years, pursued economic development and completed a design of plans for what leaders hope will be a vibrant downtown… Major business news included Branch Properties’ decision to buy the struggling City Walk development, and Regent Partners has purchased the Concourse Corporate Center in Sandy Springs, which includes the iconic King and Queen buildings. The Sandy Springs/Perimeter Chamber of Commerce began promoting its initiative to turn the city’s famous “Pill Hill” into a Silicon Valley of medicine. Kirk Demetrops, president of MidCity Real Estate Partners, announced a $36 million development of seven medical office buildings at the northwest corner of Ga. 400 and North Hammond Drive. The city also hired an economic development director, Andrea Hall… Originally Published in the Sandy Springs Reporter Read More...
read moreSandy Springs Business owners want more for Powers Ferry Landing
City leaders say the Powers Ferry Landing’s business district needs more encouragement and attention to get it out of its rut. Developers say the district has loads of undeveloped potential, but geography holds the area back. Many people aren’t aware Powers Ferry Landing is in Sandy Springs… Kirk Demetrops, a local real estate developer, said the interstate also provides challenges. “I think the traffic on I-285 alone caused this area to be more difficult to get to,” he said… Originally Published in the Sandy Springs Reporter Read More...
read moreDowntown’s traffic troubles call for circular logic
I don’t want to see Sandy Springs going around in circles about how to deal with traffic problems. However, I would like the city to seriously consider roundabouts (also known as traffic circles) and maybe even some jug handles. I will explain that just a little later. But first, an explanation of how all this came up. We recently held a panel discussion that included three commercial/retail developers (Lonnie Mimms, CEO of Mimms Enterprises; Jan Saperstein, owner of Sandy Springs Plaza; and Kirk Demetrops, principal of MidCity Real Estate Partners), Nancy Leathers, director of Community Development for Sandy Springs, and Trisha Thompson, zoning chair for the Sandy Springs Council of Neighborhoods… Originally Published in the Sandy Springs Reporter Read More...
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