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Atlanta Mayor, Obama Official to Deliver Keynotes at CAP's Downtown Development Day

ATLANTA (Oct. 27, 2011) – Central Atlanta Progress (CAP), in partnership with Commercial Real Estate Women (CREW) of Atlanta, has set the line-ups for the breakout panels at CAP’s Ninth Annual 2011 Downtown Development Day, which will take place on Nov. 3 at Hyatt Regency Atlanta. Some of the hot issues affecting Downtown Atlanta including the transportation SPLOST, streetcar development and greening of Atlanta through buildings will be discussed. The breakout sessions will run concurrently from 10:30 a.m. to 12 noon.

Preceding the breakout sessions, the Obama Administration’s Federal Environmental Executive Michelle Moore and Atlanta Mayor Kasim Reed (shown on right in photo with Carter President Scott Taylor) will serve as keynote speakers and launch the Atlanta Better Buildings Challenge.

Breakout session one, “The Atlanta Better Building Challenge – Greening Atlanta through Higher Performance Buildings,” will discuss the integration of President Obama’s Better Buildings Challenge into Atlanta’s development goals and the city’s first sustainability plan. Panelists are John Bracey, technical projects manager, Southface; Bill Hosken, interim director, City of Atlanta – Office of Sustainability; Matt Otani, Georgia Power; Shyam Reddy, regional administrator, GSA’s Southeast Sunbelt Region; and Clark Wisenbaker, associate, Davis, Pickren, Seydel & Sneed, LLP. Nathan Mize, senior manager at The Reznick Group will moderate the panel.

Breakout session two is “Project list for the Transportation Investment Act – What’s in It, What’s Not, Where is It Going, and What It Means for Downtown and the City”. Panelists are Ray Christman, former executive director, Livable Communities Coalition; Dan Reuter, land use division chief, Atlanta Regional Commission; Tom Weyandt, senior policy advisor for transportation, City of Atlanta - Office of the Mayor; and Dave Williams, vice president of transportation at Metro Atlanta Chamber. John Reyhan, executive at Skanska USA Building will moderate the panel

Breakout session three is an interactive planning session around strategy for Atlanta’s streetcar development. Facilitators are Jennifer Ball, vice president of planning and economic development, Central Atlanta Progress; Herman Howard, co-founder and partner, The Laminin Group; Caleb Racicot, senior principal at Tunnell-Spangler-Walsh and Associates; John Skach, senior associate, Urban Collage; and Ron Stang, principal, Stevens & Wilkinson.

There is still time to register, but tickets are going fast. Tickets are $45 for CAP or CREW members and $400 for a table of 10. Non-member tickets are $55 and $500 for a table of 10. Student tickets are $25.  Visit www.atlantadowntown.com to learn more about the event and purchase tickets.

Event sponsors include-Gold: Cousins Properties, Georgia Power, Reznick Group and Skanska; Silver: AmericasMart Atlanta, The Coca-Cola Company, Creative Outhouse, Georgia-Pacific, Integral Group, KPMG, Turner Broadcasting and W Atlanta Downtown; Bronze: Atlanta Development Authority, Development Authority of Fulton County, DLA Piper, Greenberg Traurig, Legacy Property Group, Luckie Marietta District, Parkway Realty Services, Richard Bowers & Co., Stites & Harbison, UPS and Wilbert News Strategies.

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Central Atlanta Progress, Inc., founded in 1941, is a private nonprofit community development organization providing leadership, programs and services to preserve and strengthen the economic vitality of Downtown Atlanta. With a board of directors of Downtown’s top business leaders, CAP is funded through the investment of businesses and institutions.

CREW Atlanta, founded in 1982, CREW Atlanta’s mission is to elevate women to positions of power and influence in commercial real estate by providing resources and business opportunities. CREW-Atlanta is a member of CREW Network, a growing organization of over 8,000 members and 66 chapters across the United States and Canada that provides a business development network representing every discipline in commercial real estate.

The Atlanta Downtown Improvement District, founded in 1995 by Central Atlanta Progress, is a public-private partnership that strives to create a livable environment for Downtown Atlanta. With a board of directors of nine private- and public-sector leaders, ADID is funded through a community improvement district. The District currently contains 220 blocks within an area generally bounded by North Avenue on the north, Memorial Drive on the south, Piedmont Avenue and the Downtown Connector on the east, and the Norfolk-Southern rail line on the west.

Wilbert News Strategies is a sponsor of Downtown Development Day and is providing public relations services to Central Atlanta Progress in connection with the event.

Another Major Marietta St. Tenant Looks to Leave

(Updated Aug. 10 with link to the AJC story.)

ATLANTA (Aug. 8, 2011) - Sunday's Atlanta Journal-Constitution featured an interesting article about the large amount of space the federal government occupies in metro Atlanta. All told, federal agencies occupy 8 million square feet in Atlanta.

"Of that, 4.7 million square feet is leased for $106.9 million in annual rents," AJC commercial real estate reporter Rachel Tobin writes. "Leases on about half that space, totaling $42.3 million in annual rent, expire in the next three years."

One leased building is 40 Marietta St., also known as Five Points Plaza or "The Pagoda Building," after its odd-looking stucco exterior (see for yourself at left). It's currently occupied by the U.S. Department of Housing and Urban Development.

The AJC article says Shyam Reddy, Atlanta region administrator of the General Services Administration, would like to relocated the HUD to the feds' Peachtree Summit building.

"Although the vacancy rate for federal buildings in metro Atlanta is only about 2.5 percent, Reddy said he has some space available that would allow him to cancel some leases," Tobin writes. "For example, he wants to move Housing and Urban Development out of privately-owned 40 Marietta St. into the government-owned Peachtree Summit building on West Peachtree. And he has some room at the recently renovated Martin Luther King Jr. Federal Building downtown."

Dick Bowers, one of Atlanta real estate's most prolific brokers/developers and colorful characters, lost control of Five Points Plaza in 2009, when it was sold at foreclosure.

While moving HUD from leased space to government-owned space sounds good to me as a taxpayer, it won't do much good for Marietta Street. As someone who worked on Marieta Street from 1999-2004 and 2007-2009, I saw the corridor improve. But "after" the recession, Marietta is having a tough time bouncing back from the loss of the AJC.

 

 

Toyoko Scrapping Plans for 40-Story Hotel in Downtown Atlanta?

ATLANTA (Feb. 8, 2011) - It appears Toyoko of Japan is saying "sayonara" to its plans for a 40-story no-frills hotel  at Forsyth and Luckie streets downtown. 

The 0.31-acre tract at 90 Forsyth St. that would house Atlanta's first Toyoko Inn has been put up for sale. Josh Finley of CB Richard Ellis has the listing, at least according to the sign recently erected on the property that today serves as a AAA parking lot.

Toyoko paid Selig Enterprises a whopping $3.94 million for the sliver of land in 2008, according to Fulton County property records. Of course, it would be interesting if Steve Selig makes an offer on the lot after cashing in once already.

If Toyoko in fact is scrapping plans for Toyoko Atlanta, it would be the latest development in the saga of the planned hotel. Toyoko filed plans for the hotel in 2008 and then went quiet.

But a Wall Street Journal article last summer that said Toyoko still planned to develop a 700-room hotel on the site created buzz in downtown and hospitality circles.

The latest move, the listing of the land, likely spells the end of dreams for a tall, skinny no-frills hotel in downtown Atlanta.

Cox gives former AJC building to city of Atlanta

ATLANTA (Nov. 9, 2010) - Cox Enterprises just kicked off the Christmas season a little early. The company announced this morning it has given the former Atlanta Journal-Constitution building at 72 Marietta St. to the city of Atlanta.

The gift includes the 70s-style office building and the huge industrial component that housed the printing presses behind it. The donation is valued at $50 million. (County tax records value the building and land at $31 million.) 

The AJC vacated the building this spring for a suburban office building near Perimeter Mall.

“We’re thrilled to accept this generous gift from Cox Enterprises,” said Atlanta Mayor Kasim Reed. “The former AJC property occupies a unique location in the heart of downtown Atlanta, near City Hall, Centennial Olympic Park, and the proposed multi-modal passenger terminal.”

For the rest of the story, read AJC commercial real real estate reporter Rachel Tobin's story or check out the press release Cox TV station WSB-TV posted earlier today.

 

Stars of Atlanta Commercial Real Estate Fill Downtown Development Day Panels

ATLANTA (Oct. 13, 2010) - Central Atlanta Progress, in partnership with Commercial Real Estate Women (CREW) of Atlanta, has set the line ups for the breakout panels at CAP’s Eighth Annual 2010 Downtown Development Day, which will take place Nov. 4 at AmericasMart Building 2 WestWing. Experts from Cousins Properties, Forest City Enterprises, Bank of America Merrill Lynch, Atlanta Development Authority and other esteemed companies will offer their knowledge and insight into what’s happening in Downtown. The panels will run concurrently from 10:45 a.m.-12 noon.

Panel 1 will discuss how to attract retail and residential development to Downtown. Panelists include Jim Borders, CEO, Novare Group; Michael I. Cohn, executive vice president retail investments, leasing and asset management, Cousins Properties; Sarah Kirsch, senior principal, RCLCO; and Harvey Rudy, senior director of development, Barry Real Estate Cos. The panel will be moderated by Herman H. Howard, vice president - Atlanta regional practice leader, HOK.

Panel 2, “Land of Opportunity: Underutilized Parcels in Downtown,” will look into the available land downtown and what might be developed there. Panelists are Jennifer Ball, vice president of planning, Central Atlanta Progress; Emerick J. Corsi, executive vice president of development, Forest City Enterprises; Tyrone Rachal, senior development manager of tax allocation districts (TADs) and NMTC programs, Atlanta Development Authority; and Jeffrey L. Warwick, market executive, Bank Of America Merrill Lynch. Tony Wilbert, president, Wilbert News Strategies, will moderate the panel.

Panel 3 will discuss how to boost Downtown’s economy in 2011 through hospitality, tourism and nightlife. The panelists will be William Pate, president and CEO, ACVB; Erica Qualls, general manager, Atlanta Marriott Marquis and chair of Atlanta Hotel Council; Matt Ruppert, proprietor, Noni’s Italian Bar & Deli; and R. Mark Woodworth, executive vice president, Colliers PKF Consulting USA. Tony Conway, president and owner, A Legendary Event, will moderate this panel.

 

Preceding the panels, Bernie Marcus, chairman of The Marcus Foundation, will give the keynote address where he will discuss the economic impact of the Georgia Aquarium on the city and state and how the attraction has created a destination to inspire visitors to visit and stay Downtown. Marcus is well known for funding the Georgia Aquarium in downtown Atlanta. Early next year, the aquarium open its new $110 million dolphin exhibit expansion that he also funded.

Central Atlanta Progress President A.J. Robinson will provide updates on Downtown’s newest developments and those in the planning stages. He’ll also discuss how Downtown is on the cutting edge of new technology, upgrading its infrastructure and becoming a preferred destination for Atlanta’s young and hip residents.

“Downtown is emerging as the place to live, go to college and do business in Atlanta,” Robinson said. “Downtown Development Day gives us the opportunity to spotlight what’s occurring and share our success stories.”

At the event, Robinson will present the Downtown Atlanta Economic Impact Award, and Atlanta magazine Publisher Sean McGinnis will present the Atlanta Downtown Design Excellence Award.

Following the program, attendees will have the opportunity to take an optional bus and walking tour of Downtown Atlanta. The tour will allow Atlanta’s real estate community and Downtown stakeholders interested in the area’s future the opportunity to discover the city’s new and exciting changes.

The event will also feature an expo to showcase new and planned real estate projects as well as Downtown-focused initiatives. The expo provides a great opportunity to network within the industry and business community.

Event sponsors include: Gold: Lanier Parking and AmericasMart; Silver: Barry Real Estate Companies, Georgia Power, Reznick Group, Richard Bowers & Co. and Cousins Properties; Bronze: Atlanta Development Authority, Walter P. Moore and Associates, EpsteinBeckerGreen, Stites and Harbision, PLLC, and Wilbert News Strategies.

To purchase tickets or a sponsorship, go online or contact Tahmida Shamsuddin at 404-658-5982 or [email protected] with any questions.

About Central Atlanta Progress:

Founded in 1941, Central Atlanta Progress is a private nonprofit community development organization providing leadership, programs and services to preserve and strengthen the economic vitality of Downtown Atlanta. With a board of directors of Downtown’s top business leaders, CAP is funded through the investment of businesses and institutions.

 

 

Bowers Lures CredAbility to 270 Peachtree

ATLANTA (Sept. 16, 2010) - Legendary Atlanta dealmaker Dick Bowers probably wants dance a jig on Peachtree Street today.

Fresh off refinancing 270 Peachtree, he's signed CredAbility, formerly the Consumer Credit Counseling Service of Greater Atlanta, to 40,000 square feet at the office tower. The agency that helps educate consumers about how to use and repair credit, will relocate its headquarters and corporate offices from the United Way Building at 100 Edgewood Ave. in January.

CredAbility will retain a walk-up service office at the United Way building.

CreaPartners represented CredAbility in the lease. Greg Kindred and Jenna Schulten of Richard Bowers and Co. represented their boss, who owns the tower that at one time housed Southern Co.'s headquarters.

The news was released minutes ago. Here's the official press release.

CredAbility to Move Headquarters to 270 Peachtree Street in Downtown Atlanta

 National Nonprofit Credit Counseling Agency Will Occupy Three Floors Beginning in January 2011

 

ATLANTA, GA, September 16, 2010 — CredAbility today announced that it will move its downtown Atlanta headquarters to 270 Peachtree Street by Jan. 1, 2011. The national nonprofit credit counseling and education organization, which now has its headquarters in the United Way of Metropolitan Atlanta building at 100 Edgewood Avenue, has signed a 10-year lease to occupy three floors in the building.

CredAbility, which has doubled in size to approximately 550 employees over the past three years, will lease the 17^th, 18^th and 19^th floors at 270 Peachtree Street. CredAbility will occupy slightly more than  40,000 square feet of office space, which is approximately 30 percent more than it has in its current location.

About 200 of the organization’s Atlanta-based employees are expected to work at the new location, including its senior executives, the information technology, finance, development, human resources and external affairs departments, along with some of its client service representatives, counselors and educators. Most of the organization’s remaining metro Atlanta employees will continue to work at one of the agency’s two other principal offices, located at 3100 Interstate North Circle in Cobb County and 2160 Satellite Boulevard in Gwinnett County.

After the move, CredAbility will maintain office space at 100 Edgewood Avenue, where it will continue to provide in-person credit counseling services.

The new location provides CredAbility with several important benefits.  As a former headquarters building for Georgia Power, 270 Peachtree has an onsite data center, which provides the organization with a secure source of power and high-level security for its data. CredAbility provided confidential counseling and education services to more than 754,000 people in all 50 states in 2009, making data security a critical need.

In addition, several upgrades have been made to the building’s mechanical, heating and air conditioning systems. Closer access to MARTA via the Peachtree Center station will also provide the organization’s employees with more transportation options.

“Consumers across the nation count on us to be available 24/7,” said Suzanne Boas, CredAbility’s president. “The 270 Peachtree Street building meets our critical technology and infrastructure needs while also enabling us to remain in downtown Atlanta and continue to be an important part of the community,” she said.

Boas stressed that CredAbility will maintain strong ties with United Way. The two organizations have a long history of working together to provide critically needed services to low- and moderate-income residents of Atlanta. CredAbility has maintained offices in the United Way building since the early 1980s.

“We have a long and valuable partnership with United Way that will continue to thrive, especially now, during a period when so many people in metro Atlanta need social services to provide food, shelter, clothing and financial education for their families,” she said.

Boas said it was important that the agency’s national headquarters remain in downtown Atlanta. CredAbility has been based here since it was founded in 1964 as the Consumer Credit Counseling Service of Greater Atlanta.

“Although we provide service to families in need across the United States, we remain firmly committed to a strong presence in, and support for, the communities we serve. We have many partnerships with businesses, government agencies, foundations and other nonprofit organizations that are based downtown,” she said.  “It’s important for us to stay close to these organizations and make them, their clients and their employees aware of the benefits of nonprofit credit counseling and education.”

CresaPartners assisted CredAbility in the research and negotiations for its new headquarters. “We were careful to negotiate lease rights that will protect CredAbility over the long term,” said Bob Misdom, Vice President with CresaPartners.  “It was a win-win for the new tenant and the building’s owner.”

Senior Vice President Greg Kindred and Jenna Schulten represented the owner of the building, Richard Bowers & Company.  Richard Bowers & Company recently received a multiyear extension and refinancing for the debt secured by the 270 Peachtree Street building, formerly known as Southern Company Center. The company also owns the adjacent building at 260 Peachtree Street.

“CredAbility is the clear leader in the nonprofit credit counseling and education sector and we are extremely pleased that they chose 270 Peachtree for their new headquarters,” said Greg Kindred, Senior Vice President with Richard Bowers & Company. Kindred said CredAbility will join Habitat for Humanity, another national nonprofit organization, as tenants in the building.

 

About CredAbility

CredAbility is one of the leading nonprofit credit counseling and education agencies in the United States, serving clients in all 50 states plus the District of Columbia, Guam, Puerto Rico and the US Virgin Islands, in both English and Spanish. In addition to providing counseling via telephone and internet, CredAbility operates 28 offices across the southeast, including 25 offices where people can receive in-person counseling.

Founded in 1964, CredAbility is a family of Consumer Credit Counseling Service agencies that includes CCCS of Greater Atlanta, CCCS of Central Florida and the Florida Gulf Coast, CCCS of Palm Beach County and the Treasure Coast, CCCS of East Tennessee and CCCS of Jackson (Mississippi).

The nonprofit agency is accredited by the Council on Accreditation and is a member of the Better Business Bureau and the National Foundation for Credit Counseling (NFCC). Governed by a community-based board of directors, CredAbility is funded by creditors, clients, contributors and grants from foundations, businesses and government agencies. Service is provided 24/7 by phone at 800.251.2227 and online at www.CredAbility.org.

 

About CresaPartners
CresaPartners is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Relocation Planning and Management, Strategic Planning, Workforce and Location Planning, Subleases and Dispositions, Lease Administration, Capital Markets, Sustainability, Supply Chain and Facilities Management. With more than 50 offices, CresaPartners is the largest tenant representation firm in North America. Internationally, CresaPartners covers more than 125 locations in 35 countries. For more information, visit www.cresapartners.com.

 

About Richard Bowers & Co.
Established in 1980 and headquartered in its flagship property of 260 Peachtree Street in Atlanta, Richard Bowers & Co. is the largest independently owned commercial real estate firm in Metropolitan Atlanta. A member of TCN Worldwide—a national affiliation of real estate firms—the company represents tenants, landlords and owners in office, industrial, and retail sales and leasing, land and investment sales, financial services, relocation services, interior design, construction management, property management and development. Affiliated companies include Facilitec, RB Management and Office Interiors. Represented clients include numerous FORTUNE 500 companies, regional and national headquarters, professional firms and major institutions. The company has completed more than 10,000 property sales and leasing requirements totaling more than 80 million square feet of space since its inception.  For more information, visit www.richardbowers.com.

 

 

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CONTACTS:

Scott Scredon (404) 653.8833 / [email protected]
John McCosh (404) 260.3108  / [email protected]