Skyline Views

BREAKING: 2 Million-Square-Foot Movie Studio, Mixed-Use Planned for South Atlanta

ATLANTA (Feb. 27, 2015) - Metro Atlanta's position in the movie and film industry is about to get a big boost, thanks to Pinewood Studios. The studio and and post-production company has filed plans to add a humongous studio and other mix of uses in Fayetteville.

The expansion, dubbed Pinewood Atlanta Studios - West Fayetteville, would be "a Master Planned Development consisting of film studio facilities, production center, office, commercial, residential, hotels and institutional uses," according to the just-filed DRI (Development of Regional Impact. 

Specifically, the size and scope of the project - slated for completion in 2022 - would break down like this: Studio:

1,952,000 square feet

Residential: 1,345 units

Commercial/Office: 259,500 square feet

Institutional: 53,000 square feet

Ga. Gov. Nathan Deal recently spoke of an upcoming expansion at Pinewood. Here's a link to The (Fayetteville) Citizen's coverage of that.

Possible Sale of Cushman & Wakefield Should Have Big Impact on Atlanta

ATLANTA (Feb. 26, 2015) - While the potential of snow dominated Atlanta's news cycle this week, a big national commercial real estate story developed that will have a major impact here. 

The headline and subhead on the story by Peter Grant of The Wall Street Journal said all you need to know: Cushman & Wakefield Going Up For Sale. Rising Property Prices Pushing Up Value of Rivals.

Cushman often is the third brokerage firm mentioned when discussing the Big 3 of CRE brokerage. (CBRE and JLL are the top two. The Wilbert Group represents JLL Atlanta and works with CBRE Global Investors.) C&W ranks as the No. 3 commercial brokerage in Atlanta, according to Atlanta Business Chronicle.

Grant's WSJ article says Cushman does not plan to see to a competitor the way Cassidy Turley did when it sold itself to DTZ and morphed into DTZ. So, it will be interesting to watch this unfold.

- Tony Wilbert, The Wilbert Group, 404-405-3656

DJ Frank Ski Puts His Buckhead Restaurant on the Market

UPDATE from Rodney Ho of The Atlanta Journal-Constitution: Frank Ski's Restaurant & Lounge is for sale at $395,000 in cash for the assets inside the building and the rights to a long-term lease for $18,000 a month. 

Rodney also, in a classy media move, credited Eli Zandman of Tomorrow's News Today with breaking the news. In this case, Eli did in fact have tomorrow's news a day early.

ATLANTA (Feb. 26, 2015) - Uber -DJ Frank Ski's restaurant on Peachtree Road in Buckhead, which recently only operated as a club at night, is on the market.

The freestanding 8,000-square-foot restaurant basically on top of the BeltLine is available for a mere $395,000 -or for lease at a "blow-out" below-market rent of $18,000, according to The Shumacher Group, which has the listing. Rodney Ho of The Atlanta Journal-Constitution broke the story about the marketing of Frank Ski's, which opened in September 2011.

The sale of Frank Ski's Restaurant and Lounge likely will be followed by the sale of the entire Bennett Street development (stay tuned).

The owner recently placed large pieces of beige packing paper to block most of the view into the restaurant.

Here's how Shumacher's Steven Josovitz described the property, which has housed several concepts, including Mick's and Thirsty Dog Tavern.

This is a sale of a well known , well established full service restaurant in the heart of  Buckhead. This super hot Buckhead location is surrounded by Midtown,Downtown and the Perimeter marketplace affording an amazing middle to hi income, hi density residences, tons of retail, restaurants, office hi rises, hotels, convention centers stadiums, concert halls, etc and two regional malls Lenox Mall and Phipps Plaza.

Space is approximately 8,000/sf with seating for 400 in an amazing build out that was recently renovated at over $1,000,000 creating a stunning and state of the art facility.

In addition to indoor seating of 400 space has 30-seat bar, 2-private dining rooms accommodating ten guests and one seating 75-guests and a special wine cellar dining room.

Outdoor seating is set up for 120 but can easily accommodate 400 in a special events set-up. Owners spent $200,000 on outdoor venue alone.

- Tony Wilbert, The Wilbert Group, 404-405-3656

Buckhead Developer Has Cool Plans for Avondale Estates MARTA Lot

ATLANTA (Feb. 24, 2015) - It's great to see the TOD explosion in metro Atlanta, with MARTA taking the lead. It's also cool to see Buckhead developer (and Wilbert Group neighbor) Noel Khalil spearheading the proposed development at the Avondale Estates station.

Khalil's Columbia Ventures has filed plans to develop Columbia Park and transform the pedestrian-looking parking lot at the Avondale station to a thriving transit-oriented development. The project's scope prompted the city of Decatur to kick the proposal up to the state Department of Community Affairs for review as a Development of (Very Good) Regional Impact.

The project would be completed in 2021 and be worth the wait.

Here's the scoop:

CEO of Atlanta's Newest Fortune 500 Firm Emerging as Key Advocate for City

ATLANTA (Feb. 22, 2015) - Though PulteGroup has been in Atlanta less than a year, its CEO is taking quick action to ingrain himself in the business community and serve as a needed vocal advocate for the city and region.

Richard Dugas Jr., who led the way in Pulte's decision to relocate from metro Detroit to Atlanta last year, is active in the Metro Atlanta Chamber and its new Public Policy Advisory Board and already serves as chairman of the influential Westside Future Fund that will play a critical role in the future of the Martin Luther King Jr. Drive corridor and West Atlanta. The fact Mayor Kasim Reed and the Atlanta Committee for Progress picked so quickly after Dugas returned to Atlanta shows that Pulte's president and CEO already is a trusted adviser.

More evidence of Dugas' civic standing appears in today's Atlanta Journal-Constitution. He writes in response to the AJC's Atlanta Forward series that laid out how Charlotte and Dallas have pulled ahead of Atlanta on key indicators in the past decade. Here's what Dugas had to say:

Opinion: Problems well-known, we’re working on solutions

Updated: 7:50 p.m. Thursday, Feb. 19, 2015  

By Richard J. Dugas Jr.

 The Atlanta Journal-Constitution has been running a series of articles suggesting Atlanta is falling behind other southern metros such as Dallas and Charlotte in terms of economic development and, more specifically, business growth. The AJC highlights the challenge we face recruiting new business to metro Atlanta because of issues that include traffic and education. The idea that Atlanta has too much traffic and not enough education is old news and, in truth, what metro in America doesn’t have challenges? Since these are known, I think the more important questions are: what are the solutions we should be implementing and what are the competitive strengths we can capitalize on right now?

To the former, we have leaders who are clearly engaged and actively working to implement answers, not just rehashing the old refrain of what ails us. Mayor Reed does a great job engaging business and community leaders through the Atlanta Committee for Progress to drive solutions, and he and Governor Deal work extremely well together on behalf of Atlanta and our entire state. Likewise, the Metro Atlanta Chamber is a forward-thinking organization that does a terrific job highlighting Atlanta’s strengths and helping to work on real issues that need improvement.

A billion dollars or more in new transportation funding is being considered, and we have recruited and hired dynamic and nationally recognized superintendents to get our public schools on a better track. At the same time, we have the CEO’s and senior executives of metro Atlanta businesses, including Fortune 500 industry leaders, linked through the Mayor’s office and the Metro Atlanta Chamber, working on innovative solutions. And when I say working, I mean working, as the resolve among these individuals to implement solutions – not just list problems – is very real.

No kidding ourselves here, our region has some big challenges and it will take time to resolve them. Step one in solving any problem is acknowledging there is one. Consider step one complete. While we are working on solutions, let’s remember the incredible benefits this region has to offer. Knowing metro Atlanta’s current profile, PulteGroup, Mercedes and others decided to move here because we appreciate the tremendous strengths this region delivers every day.

It shouldn’t be lost on anyone that metro Atlanta offers a competitive business climate, low cost of doing business and low cost of living, fantastic airport, improving transit system (MARTA), and a robust talent pipeline. The region’s higher education system, with 66 colleges and universities and more than 275,000 students, is a vital component of its economic success that fuels area businesses with talent, discovery and innovation. Metro Atlanta ranks seventh in the nation for total number of bachelor’s degrees conferred, ahead of Dallas and Charlotte.

In addition to talent, I have found an open community where one can engage quickly to help tackle critical issues. Two groups I’m involved with personally are the Westside Future Fund, an independent, non-profit entity that is working with numerous partners to help guide the development of the critical neighborhoods that are part of the westside Atlanta community, and the Metro Atlanta Chamber’s Public Policy Advisory Board. I agreed to chair the Advisory Board because I believe it is critical we come together to develop a stronger business voice with our elected officials and advance the key policy priorities to build a more prosperous region.

Based on the strong talent in our great region with state and local government, civic, non-profit and other leaders willing and able to engage and drive change, I see a huge opportunity to improve the numbers and help tell the next chapter in the story of the Atlanta region’s prosperity and growth. Let’s move this dialogue forward and focus on what we’re doing – today and tomorrow.

Richard J. Dugas Jr. is chairman, president and CEO of PulteGroup.

With Whole Foods, Light Rail, Crescent's TOD Will Transform Uptown Charlotte

CHARLOTTE, N.C. (Feb. 11, 2015) - In its earnings announcement today, Whole Foods Market confirmed it has signed a lease for a new store in Charlotte. That location, Whole Foods' first in Uptown Charlotte, will be a key piece of a new transit-oriented development from Crescent Communities.

The development and new Whole Foods mark a milestone for Charlotte's city center.

“It is our vision that this Crescent community will redefine urban living in Charlotte,” said Ben Collins, regional vice president for Crescent. “Whole Foods Market will be Uptown’s first full-sized grocery store. Its size, combined with Whole Foods Market’s holistic approach to the shopping experience, will allow residents, commuters and visitors to enjoy Uptown in an entirely new way.”

Here's the full release from Crescent. The Wilbert Group has joined Crescent's team or PR agencies and looks forward to spreading the word about all the cool things it's doing.

  

Crescent Communities to Bring Whole Foods Market to Uptown Charlotte in Mixed-Use, Transit-Oriented Development

 

Five-acre Site Design Complements Company’s Plans for Tryon Place

to Redefine City’s Stonewall Corridor

 Crescent Communities has unveiled plans for a mixed-use, transit-oriented development (TOD) that will bring Uptown Charlotte its first Whole Foods Market. The company’s plans for the 5.4-acre site at the Lynx Light Rail’s Stonewall Station define a new model of urban living for the area and complement its Tryon Place mixed-use development to redefine the city’s Stonewall corridor.

The plans feature a 47,000 square-foot Whole Foods Market, 450-unit luxury apartment community and parking deck along with retail and up to two hotels.

“It is our vision that this Crescent community will redefine urban living in Charlotte,” said Ben Collins, regional vice president for Crescent. “Whole Foods Market will be Uptown’s first full-sized grocery store. Its size, combined with Whole Foods Market’s holistic approach to the shopping experience, will allow residents, commuters and visitors to enjoy Uptown in an entirely new way.”

Located at the southwest intersection of Stonewall and Caldwell streets, the community will be directly connected to the Stonewall Station, which serves popular Uptown destinations including the NFL Carolina Panthers’ Bank of America Stadium, Levine Center for the Arts, and the Charlotte Convention Center. With free-flowing access to Whole Foods Market, it represents one of the nation’s most accessible transit-oriented grocers and is perfectly situated for everyday Uptown living.

“We’ve enjoyed being part of the Charlotte community since 2012 and are excited about the city’s continued growth,” said Jeff Turner, executive coordinator of operations with Whole Foods Market. “We look forward to offering both convenience and a gathering place to our future neighbors and Uptown’s visitors.”

Whole Foods Market, residences and hotels also complement the plans for Crescent’s Tryon Place, just west of the site. Tryon Place, on more than three acres at the corner of Stonewall and Tryon streets, is a planned mixed-use community with Class A office, restaurants, retail and full-service hotel.

“We see a strategic opportunity for Crescent to create something transformational for Charlotte along South Tryon Street and the Stonewall corridor,” said Crescent CEO Todd Mansfield. “With a new mix of development for this part of Uptown, our plans will enhance the area’s walkability, encourage engagement, and further connect the city’s core with South End. It’s very reflective of the growth and sustainability that the community asked for in the Center City 2020 Vision Plan.”

 Crescent’s approach to development is centered on building a sense of community for residents, workers and visitors through thoughtful design and engaging social spaces. In addition to a raised, transit-level public plaza, the new project at Stonewall and Caldwell includes a resident-only outdoor amenities area. Designed atop the parking deck, the resort-style pool and outdoor living space offer uninhibited views of the skyline looking up Tryon Street. The two residential buildings include a mid-rise as well as a high-rise with fewer but larger and more luxurious units, providing a boutique feel.         

Crescent will break ground on the new community on Stonewall Street this year and is targeting 2017 for its opening date.

            Bill Moseley of Moseley Real Estate Advisors represented Whole Foods Market. Lord Aeck Sargent and Preston Partnership LLC provided site planning and design services for Crescent Communities, and Land Design is the civil engineer.

 

About Crescent Communities

Crescent Communities, LLC (www.crescentcommunities.com) is a leading real estate investment and operating firm driven to create long-term value by developing thoughtful, sustainable communities that improve people’s lives. Founded in 1963, Crescent’s original mandate as a land management company continues to inform its commitment to the wise stewardship of natural resources. The company finances, plans and develops properties in the Sunbelt and Mid-Atlantic markets that represent more than 50% of the U.S. population growth over the next decade. Its multi-product platform includes residential, multi-family, mixed-used, commercial and land assets, valued in total at $1.2 billion. Crescent’s robust capital deployment, seasoned leadership team, and model of sustainability enable the company to maximize opportunity in a recovering real estate market.

 

About Whole Foods Market®

Founded in 1980 in Austin, Texas, Whole Foods Market (wholefoodsmarket.com, NASDAQ: WFM), is the leading natural and organic food retailer. As America’s first national certified organic grocer, Whole Foods Market was named “America’s Healthiest Grocery Store” by Health magazine. The company's motto, “Whole Foods, Whole People, Whole Planet®” captures its mission to ensure customer satisfaction and health, Team Member excellence and happiness, enhanced shareholder value, community support and environmental improvement. Thanks to the company’s more than 85,000 Team Members, Whole Foods Market has been ranked as one of the “100 Best Companies to Work For” in America by FORTUNE magazine for 17 consecutive years. In fiscal year 2013, the company had sales of $13 billion and currently has 399 stores in the U.S., Canada and the U.K.

 

 

# # #

Contacts:     

Laura King Edwards                                               Heather Tamol
704-926-1334                                                          704-926-1326
[email protected]                                     [email protected]     

CBRE Bets Ad Dollars on AJC's Groundbreaking Series

ATLANTA (Feb. 9) - The battle to own commercial real estate news in Atlanta is intensifying in 2015 as marquee companies consider the metro area for headquarters relocations.

But in what could foreshadow a stunning shift, the fight for print advertising dollars also is heating up, with The Atlanta-Journal-Constitution re-entering the ring. The proof can be found on Page A7 of today's AJC. That's where you'll find a full-page color ad for CBRE. The ad, which focuses on reputation building as opposed to transaction touting, appears in the paper's groundbreaking Atlanta Forward series highlighting Atlanta's need to up its game to continue to attract new companies and residents.

This development shows that advertisers still will target outlets with great content for their ad spends.

While the AJC has regained its position as one of the - if not the top - real estate news outlets in the region, all of the CRE ad dollars in town typically flow to Atlanta Business Chronicle, which for long has led the way as the outlet of choice of real estate CMOs and decision-makers. The needle already has started to shift, thanks to Bisnow Atlanta, which has attracted ads from most top-tier Atlanta CRE companies.

Now it will be interesting to see whether other CRE firms join CBRE in buying ads in the AJC's print edition. During the past decade, I can only recall occasional display ads from Cousins Properties. And when the AJC's Horizon section existed, a couple of other firms bought ads, too.