Highwoods 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 moreMidCity 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 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 project signals new cycle of medical offices
A local developer has announced a major project some hope could signal the start of a new cycle of medical office development in the central Perimeter market. Kirk Demetrops, president of MidCity Real Estate Partners, says the $36 million development will consist of seven buildings located in the northwest corner of Ga. 400 and North Hammond Drive. The complex also offers frontage on Barfield Road and Ga. 400… Originally Published in the Sandy Springs Reporter Read More...
read more2010 in Sandy Springs: parks, bridges, a new ceremony
The property was supposed to go to the dogs. Vines and bamboo covered the 27 acres on the edge of Bull Sluice Lake. Nobody thought much about the land in an out-of-the-way spot at the end of beat-up Morgan Falls Road. City officials figured it would be a good place for residents to exercise their pets… A group of property owners in downtown Sandy Springs formed a new group intended to develop a common vision for the city’s commercial center. Mimms Enterprises CEO Lonnie Mimms Jr., who helped pull the group together, said the organization hoped to make the area more than a speed bump on the commute from homes in Cobb County to jobs in the medical district nicknamed Pill Hill. “How do you take it back from commuter traffic?” Mimms asked. “There obviously is no easy answer, or it would have been done.” On Sept. 7, the organization, which included developers such as Kirk Demetrops and Jan Saperstein, presented its plan to the city officials. Mayor Eva Galambos hailed the presentation as “the beginning of a new world.”… Originally Published in the Sandy Springs Reporter Read More...
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