Skyline Views

College Football Hall Stays Mum on Atlanta Site

By Tony Wilbert, Wilbert News Strategies LLC

ATLANTA (Sept. 28, 2009) - The press conference held last week in Atlanta’s tony Buckhead district to announce the College Football Hall of Fame’s relocation to the capital of the South had everything you’d expect – except a discussion about exactly where the $50 million facility will rise.

Top executives from the National Football Foundation and College Football Hall Inc. of Fame Inc. and Chick-fil-A offered those in attendance lots of details and facts, even a clock counting down to the number of days (1,072 as of last Friday) till the new hall opens in 2012. Atlanta Mayor Shirley Franklin said the hall of fame will be “a real jewel in our crown.” Georgia Gov. Sonny Perdue gave out a game ball via video message, and the Morehouse College House Funk Marching Band placed an exclamation point at the end of the show. 

In a nice touch, legendary University of Georgia Coach Vince Dooley, right, was recognized from the podium.

But still, the press conference included no public discussion of where the 50,000-square-foot hall would be built. “Where” seems to be the second-most logical question to ask after, “Why?” And some journalists did ask the question after the press conference. But, based on their reports they got a murky answer that the College Hall of Fame would be built near Centennial Olympic Park. 

As for me, I’m sticking with the site I’ve identified previously: the InterPark lot on the northeast corner of Harris and Centennial Olympic Park Drive. The hall would need about 1 acre for the building and parking. The price tag for an acre in that area could be as high as $7 million to $8 million.

I look forward to the official announcement when organizers nail down the land deal.

Next up on the real estate front, the National Football Foundation and Chick-fil-A Bowl will hire a developer and/or project manager. It’s interesting that Cousins Properties had a representative on hand at the press conference.

The Atlanta-based REIT already has won the assignment to manage design and construction of the Center for Civil & Human Rights Museum that will be built at Centennial Olympic Park Drive and Ivan Allen Boulevard. Now, Cousins appears to be a favorite to win the College Football Hall of Fame job, too. When I asked Cousins Senior Vice President Claude “Chuck” Winstead about whether Cousins would be the project manager, he said, “I hope so.”

At that point, Central Atlanta Progress President A.J. Robinson quickly interjected: “No contracts are signed yet with this project.” Robinson appears in the middle of the photo above. Winstead is on the right, and Doug Shipman, executive director of the Center for Civil * Human Rights Partnership.

Future Home of College Football Hall of Fame?

By Tony Wilbert

ATLANTA (Sept. 23, 2009) - Atlanta is abuzz about the expected announcement Thursday that the College Football Hall of Fame will move to Atlanta from South Bend, Ind.

Here are two photos of the site that InterPark, a GE Capital Real Estate subsidiary, appears to be ready to sell to a nonprofit group involving the family of Chick-fil-A founder Truett Cathy. The site is at Centennial Olympic Park Drive and Harris Street, directly across the street from the Olympic park and next to the former Inforum, now known as American Cancer Society Center.

Check out Jim Galloway's Political Insider column for more information on the site.

Photos by Wilbert News Strategies.

Perpetual Atlanta Downpours Penetrate Picturesque Peachtree Tower

By Tony Wilbert, Wilbert News Strategies LLC

ATLANTA (Sept. 22, 2009) - Add One Ninety One Peachtree Tower, the picturesque skyscraper in downtown Atlanta, to the list of properties damaged by the torrential downpours that have swamped this Southern city.

The ceiling of the tower's renowned atrium lobby leaked during the latest round of storms, forcing owner Cousins Properties to shut down part of the common area and break out high-powered fans to soak up the dampness.

"We're just pulling the humidity out of the building," Cousins President and CEO Larry Gellerstedt said as he briefly surveyed the damage Tuesday morning. "Makes me glad I'm not in the construction business anymore."

Gellerstedt, who joined Cousins Properties in 2005 when the REIT acquired his Gellerstedt Group, replaced Tom Bell as Cousins' CEO in July. Previously, he worked several years at Beers Construction, now part of the giant contractor Skanska.

Cousins' acquisition of the 1.2 million-square-foot trophy tower at 191 Peachtree St. for a mere $153 million might have been Tom Bell's greatest accomplishment during his tenure. Even with the building more than half-empty at the time, the price of $126 per square foot was a steal.

Eola Capital to Gain Control of Atlanta landmarks

By Tony Wilbert, Real Estate Rooster

ATLANTA (Sept. 10, 2009) - By next week at this time, Eola Capital could catapult from a minor player in Atlanta to a dominant landlord.

Eola Capital is negotiating to gain control of America’s Capital Partners’ holdings in the city and elsewhere.

If a deal is struck, Orlando-based Eola Capital would gain control of several high-profile office buidings in Atlanta, including the six-pack at Peachtree Center, 10 Tenth Street (formerly known as Millennium in Midtown) and Piedmont 14 in Buckhead. Read the full report in today's Real Estate Rooster.

Atlanta Developer in Running to Reel in Neptune

ATLANTA (Sept. 3, 2009) - A large industrial building developed by Solution Property Group of Atlanta is a finalist in the race to land TBC Corp., which is searching the Southeast for a 1.2 million-square-foot distribution center.

Solution Property Group's building at 595 Northport Parkway in the Northport development is on the short list but is facing competition from sites near the Port of Charleston and port in Norfolk, Va.

Charleston, S.C., has jumped from dark horse to the leading candidate to win the deal with TBC, parent company of National Tire & Battery and Tire Kingdom. However, Georgia economic development officials have been given the chance to sweeten the state's incentive package to win the deal.

Read today's e-Blast from Real Estate Rooster for the full story.