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 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 moreMain Street Alliance adds input on new ‘heart’ of city
Representatives of 30 Sandy Springs commercial and retail property owners, organized as the Main Street Alliance, presented a vision for developing a downtown heart for the city to Sandy Springs City Council on Sept. 7. Mayor Eva Galambos declared it to be “the beginning of a new world.”… Along with Morganstern, who is former chair of the Sandy Springs/Perimeter Chamber, the Alliance members presenting to the mayor and council were: Alliance chairman Lonnie Mimms, whose company owns 485,243 square feet of retail space in four shopping centers on 40.65 acres in the city; Patti Pearlberg, vice president of Coro Realty Advisors, which owns two shopping centers in the designated area with a total of 160,324 square feet on 18,5 acres; Jan Saperstein, general partner of Sandy Springs Plaza shopping center, who controls 126,000 square feet of retail space on 8.72 acres in the heart of the city; and Kirk Demetrops, partner in Mid City Partners and former president of The Griffin Company, who controls 85,556 square feet of space on 5.24 acres on Roswell Road where the Bank of America building is located… Originally Published in the Sandy Springs Reporter Read More...
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