Skyline Views

It's Atlanta! City to Host 2013 Real Estate Journalism Conference

DENVER (June 22, 2012) - Atlanta's real estate market will get the chance to shine next June when the nation's top residential and commercial scribes descend on the city.

The National Association of Real Estate Editors, or NAREE, voted unanimosuly late last week to hold its annual Journalism Conference in Atlanta. Kris Hudson, who covers hotels and retail real estate, will be president of NAREE when the conference is held in Atlanta. (The board and I are pictured at left.)

Each NAREE Journalism Conference features keynotes and panels with national and local industry executives, researchers and government agencies.

Wilbert News Strategies was Platinum Sponsor of NAREE 2012 and used the conference as the backdrop to promote our expanded Experts Guide, an online resource for journalists seeking sources. (See photo below.)

In Denver, Mayor Michael B. Hancock welcomed this year's NAREE attendees in an engaging off-the-cuff chat about his city and why it is the nation's top construction market right now.

Mayor Hancock bragged about the expansive size of Denver International Airport and its ranking as the world's fifth-busiest airport by aircraft movements (10th based on passenger traffic). As Hancock said these words, we imagined Atlanta Mayor Kasim Reed ready to boast about Atlanta's ranking as the world's busiest airport - period.

In addition to being a major travel hub, Atlanta is a real estate town. I helped write the bid to bring NAREE 2013 to Atlanta, and here was part of my argument:

Atlanta is a real estate town like no other. It’s home to Beazer Homes, John Wieland Homes, Post Properties, Gables Residential Trust, Cousins Properties, InterContinental Group and several other large homebuilders, commercial development firms and hospitality companies. Moreover, several large German syndicators such as Jamestown and KanAm USA are based in Atlanta.

Real estate developers such as Tom Cousins (Cousins Properties), John Portman, John Wieland, Horst Schulze/William B. Johnson (founders of Ritz-Carlton brand, Capella Hotels and Resorts) and John Williams (Post Properties) helped build metro Atlanta into a major metropolitan area. The saying in Atlanta goes like this, “Real estate is to Atlanta what cars are to Detroit.”

NAREE director Matt Valley, based in Atlanta with France Media Inc., presented our bid to the board Friday, and WSJ's Hudson made the motion that passed without an opposition.

We look forward to working with NAREE on the 2013 conference and having the influential group in Atlanta.

 

Project RoadRunner Latest Name in Georgia #EcDev Lore

ATLANTA (Feb. 17, 2012) - The large Caterpillar deal that Georgia Ga. Nathan Deal announced at the state Capitol this morning will go down in econmic lore as "Project RoadRunner."

Every big economic development deal has a cool "Project" name designed to protect the identity of the company scouting a new headqaurters or site for a large manufacturing plant such as the one Caterpillar will build outside Athens, Ga., in Oconee County.

In papers filed with the state this morning, the secret Caterpillar name is revealed as "Project RoadRunner." Other recent projects that attracted media attention incluce Project Einstein (Asurion), Project Spirit (RIM data center in north Fulton), Project Red (still secret) and Project Baja Spirit ( another that's still a secret.)

Other projects that are part of Georgia lore are Project Brown Thrasher (GE Power/now GE Energy's corporate relocation fron New York to Cobb County and Project Cypress, (a failed attempt in 1999 to get thousands of Chase jobs in metro Atlanta).

Because economic developers are running out of cool names and at times resurrecting old ones, I recommend instituting an alphabetical system used in the naming of hurricanes in the Western Hemisphere.

 

Cummiskey: Better Incentives Will Ensure Georgia Doesn't Lose Jobs to South Carolina, Alabama

ATLANTA (Feb. 2, 2012) It's time for Georgia to stop losing big job-creation deals to South Carolina and Alabama due to lack of competitiveness, Georgia's top economic development official said this morning at a real estate forecast meeting.

And Georgia is about to take action to ensure the state doesn't continue to lose to its neighbors, said Chris Cummiskey, commissioner of the Georgia Department of Economic Development. He made his comments at the Jones Lang LaSalle 2012 Real Estate Forecast Breakfast at the St. Regis in Buckhead.

Gov. Nathan Deal's Competitiveness Initiative bill is expected to be introduced in the Georgia House of Representatives today.

Quite frankly, it's about money," he told the crowd. "We've got to find ways to close that gap becuase we have been losing to South Carolina...They have eaten our lunch too many times." Alabama also has beaten out Georgia on large projects, and that's got to stop too, Cummiskey said.

Georgia will update its current incentives platform (established in 1994) to become more agressive on the incentives front. However, because Georgia is blessed with assets such as the Georgia Ports and Hartsfield-Jackson Atlanta International Airport, the state doesn't have to give away as much as South Caroline and Alabama to win big corporate relocations and automobile manufacturing plants.

Georgia needs to start offering "80 to 85 percent" of the incentives put up by competitive states, Cummiskey said. But, he stressed, these incentives must help attract higher-paying jobs.

"We have not moved the needle enough on salaries," he said. "We have to have the better-paying jobs here. We have to find ways tomove that needle."

During the event, Jones Lang LaSalle also debuted its cool Urban Skyline mobile version. Check it out here.

 

Spotlight Shines on Atlanta as CoreNet Fall Summit Kicks Off

ATLANTA (Nov. 7, 2011) - Atlanta gets its chance this week to show corporate real estate executives, economic development officials and site selection consultants why the city is a great place for business and businesses.

More than 1,700 people are here today and tomorrow for CoreNet Global's Fall Summit at the Georgia World Congress Center in downtown Atlanta. The conference has a large economic development component as officials from cities, counties and states get an audience with sought-after decision-makers at America's top companies.

(In his post from the conference, Duke Long provides a nice primer on CoreNet.)

Atlanta last hosted the Fall Summit about 10 years ago - before the Georgia Aquarium, Allen Plaza, New World of Coca-Cola and several other downtown destintions existed. This time around, downtown Atlanta offered some "there," and erased previous concerns about Atlanta as a city with "no 'there" there." (Plus, as seen above, someone took the time to create Atlanta in ice, so the city's obviously still the cool choice of corporations.)

The mood this year has proven surprisingly upbeat at the Summit, themed "Social Dynamics: Connectivity: Creativity: Realtionships." Several attendees said they expect market fundamentals to improve next year.

Before the official Opening Reception at the Georgia Aquarium, local and state economic development officials hosted an Atlanta VIP reception in the aquarium's Arctic Ballroom.

Top real estate execs from companies such as Equifax and Lockheed Martin mingled with economic development officials and commercial real estate brokers who represent large companies and new requirements. (In photo above, Jones Lang LaSalle tenant rep Gregg Metcalf, left, talks economic development with Atlanta Development Authority's Amanda Shailendra and Bill Cronin, new vice president of ADA.)

So, it's Atlanta's time to shine. The sun's out, the right people are here, and there's plenty of prime office space, warehouses and raw land available.

 

 

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.

Reports: Sears' HQ Search Down to Boston, D.C.

ATLANTA (Aug. 9, 2011) - Atlanta's brief flirtation with Sears' site selection committee apparently is over.

The Associated Press reported late yesterday that Sears has narrowed its headquarters search to the 24-hour cities of Bosoton and Chicago. Crain's Chicago Business picked up the AP story, and this morning Citybizlist spread word of the Crain's story (chicagorealestatedaily.com) in its e-mail blasts.

Even with the list narrowed to two cities, relocation experts doubt Sears will move, due to the high cost of uprooting a major company and settling into new digs. The experts also say the search merely is a ploy to squeeze more economic incentives from the Chicago suburb of Hoffman Estates, Ill., it now calls home. (Photo of Sears HQ courtesy of Perkins + Will.)

In May, Sears Holding Corp. said it would consider leaving Hoffman Estates. Several states were listed as the potential new home of the formerly iconic retailer. Georgia appeared on the list, as did neighbors South Carolina, North Carolina and Tennessee. Best part about the initial reports: Massachusetts or Washington, D.C. were not heavily mentioned.

When word spread of Sears' apparent interest in Georgia, skepticism abounded about the serioussnes of its search. Still, with the national brand looking at the Empire State of the South, the opportunity was not ignored.

Now it looks like Sears will either stay put or head to Redskins Territory or Red Sox Country.

 

Status: Facebook Hiring for New Atlanta Office

ATLANTA (July 5, 2011) - News that Facebook is opening a new Atlanta office created big buzz over the holiday weekend. Several media outlets, including The Associated Press, Atlanta Business Chronicle and The Atlanta Journal-Constitution weighed in with stories, and Twitter users helped spread the word.

So, Skyline Views figured it was worth a trip to see the new office space being built out at the Midtown West (aka Brickworks) development at Marietta and Howell Mill streets. We took our iPhone with us (as always) and snapped shots of the building exterior and of what we could see inside. The photo at left shows the exterior, which can be described as corrugated-cool-loft-office-chic.

As the photo below shows, work is underway at the address listed on the city of Atlanta building permit (1000 Marietta St., Suite 134), though the name of another company remains at the entry. The permit names Facebook and says the work to be completed includes "Offices Renovation Suite 134" and "Tenant Finish to Suite 134."

Facebook itself says it's expanding in Atlanta: "Everything is just peachy here in Hot-Lanta, where we are one of the fastest growing offices in the East Region and look forward to continue growing this fantastic region for Facebook."

In a statement delivered to the AJC, Facebook says the company has "a growing sales presence in Atlanta and is expanding its offices in order to work more closely with advertisers in the region."

And Facebook is advertising sales jobs in Atlanta that presumably will be housed in the new office. Here's Facebook's ad for one available job, a "Client Partner."

This story will continue to unfold. Hope we're invited to the opening party.

Tug-of-War Likely as Atlanta Public Schools Eyes Apartment Complex for new Buckhead High

ATLANTA (Oct. 18, 2010) - Atlanta Public Schools' search for a site for a new "Buckhead High School" has sparked controversy and a potential tug-of-war with a well-known developer.

According to reports in The Atlanta Journal-Constitution and Creative Loafing, APS has its sights set on The Paces Apartments (left) for the new high school. This garden-style apartment complex has been talked about as a potential site for months, and APS confirmed its interest in a letter threatening its owner with condemnation through eminent domain, according to the AJC and CL.

The Paces Apartments was officially identified as a coveted site by NPU-B member Sally Silver, who told AJC reporter Kristina Torres that Paces Apartments owner John W. Grant asked her for help after he received a letter "suggesting the system may try to seize the property through eminent domain."

That's where the controversy comes in. The idea of eminent domain has been a hot topic since the U.S. Supreme Court's ruling in Kelo v. City of New London (Conn.). Some residents doesn't like the idea of the government telling them whom they can sell their property to, or being forced to sell it against their will - even if it's for the public good or to further economic development.

And here's the rub from the commercial real estate aspect. The Grant family has hired CB Richard Ellis multifamily power brokers Malcolm McComb, Paul Berry and Kevin Geiger to sell the apartment complex, and they have a very interested buyer.

While the potential buyer has not been identified, we hear it's former Post Properties CIO Tom Senkbeil. He's a major player in commercial real estate, and a sale to a Senkbeil-led team probably would bring a higher price than a sale to the public school system.

The Paces Apartments site seems like a good one for Buckhead High, but it might not be worth the fight.

Mage Finds Home at First Industrial building

ATLANTA (July 8, 2010) - Mage Solar announced plans in May to locate it U.S. headquarters in Dublin, a city about 120 miles southeast of Atlanta. Now word is coming from Laurens County that Mage has picked a specific site for its HQ and manufacturing facility.

The German solar module maker is expected to move into 720 Industrial Parkway, a 190,600-square-foot building that First Industrial Realty Trust apparently sold to the city of Dublin last week. 

Dublin quickly turned around and leased the building to Mage, according to a person familiar with the transaction. (We put in a call with Dublin Mayor Phil Best but have not heard back yet.)

CB Richard Ellis listed the property for First Industrial. Early this week, LoopNet removed the listing, indicating that it's now off the market. The building previously was home to Rockwell Automation.

Though the state of Georgia officially announced the Mage deal in mid-May, Atlanta Business Chronicle scoop master Urvaksh Karkaria broke the news of the $30 million investment two months before.

Bronfman: Jamestown "well-suited" to make Atlanta's City Hall East Work

ATLANTA (March 11, 2010) - Jamestown, the homegrown/international firm that helped revive New York City's Chelsea Market, is making a play for Atlanta's behemoth City Hall East.

Jamestown would turn the vacant complex into a mixed-use project. "We've got a lot of experience with these types of projects," Jamestown Managing Director and COO Matt Bronfman, left, told Skyline Views minutes ago. "We're really well-suited for these types of efforts. We have done a lot of these projects and created senses of place."

The firm has two things in its favor to succeed where others failed with City Hall East. First, they have extensive experience with converting huge warehouses and factories such as Chelsea Market and 111 Eighth Ave. in New York to thriving mixed-use development that attract tenants such as Major League Baseball, Google and (Donny) Deutsch Inc. Second, Jamestown owns Green Street Properties, which developed Glenwood Park in Atlanta. Green Street President Katharine Kelley would play a key role in redeveloping City Hall East.

An intowner himself, Bronfman adds he's a fan of the neighborhood in which City Hall East is located. "It's an exciting opportunity." City Hall East's proximity to the planned BeltLine is similar to the situation at Chelsea Market, through which New York City's High Line runs.

At Atlanta City Hall today, Mayor Kasim Reed told members of the City Council Finance/Executive Committee that Atlanta has a verbal agreement to sell the former 2 million-square-foot Sears property on Ponce de Leon to Jamestown for $27 million. Reed said he hoped the sale would close next month and that Jamestown would pay $13.5 million on the front end, according to a story on Atlanta Business Chronicle's Web site.

Now, for a deal like this to close within six or seven weeks would be incredible, given the illiquidity, reluctance of lenders to loan and overall indecision that's wracked the commercial real estate market. That said, on Jamestown's Web site, the company with dual headquarters in Atlanta and Cologne, Germany, boasts its "deals are often counted in days, not weeks or months."

There is no contract yet, but if a deal can be struck, it will be good news for Atlanta's overtaxed residents, this one included. The vacant, decaying complex been a drain on the city for a while, and the last ballyhooed deal never materialized. Jamestown, a syndicator of German equity that acquires properties and places them in numbered funds, has the knowledge, wherewithal and access to capital to pull off a mixed-use development at City Hall East.

At Chelsea Market, right, a 22-building complex, Jamestown is the managing partner and owns about 75 percent of the complex. It has established cool shops, an open-air market and restaurants. Corporate tenants such as Food Network, Google and MLB.com also have moved in. Chelsea Market is a former Nabisco factory where the Oreo Cookie was born.