Skyline Views

Check out the Stars of #CRE Card Collection

2011-12-28T10:20:53-05:00

ATLANTA (Dec. 28, 2011) - Like most boys who grew up in the 1970s, I collected baseball and football cards. My prized possession was a mint-condition Ernie Banks rookie card. My complete set of the Super Bowl-winning 1982 Redskins team was cool, too.

Now I collect commercial real estate (business) cards. And I have some very cool ones.

As a reporter covering CRE for more than a dozen years, I got to meet and interview several industry legends including Sam Zell, Julien J. Studley, Edward S. Gordon and Roger Staubach.

I'll start with Staubach. I hated him for several years for ruining many Sundays at the Wilbert household in Silver Spring, Md. But when I got the opportunity to interview him in 1997, I jumped at it. Just before autographing a Redskins hat for me, Staubach said he got into commercial real estate because he needed to supplement his NFL salary.

“They weren’t paying football players the way they do today,” Staubach told me in a 1997 interview for Atlanta Business Chronicle. “So, I decided I had better work during the off-season.”

Being in Dallas – home to commercial real estate legends Trammell Crow, Henry S. Miller, Mack Pogue and others – Staubach naturally was drawn to commercial real estate. He began his career at Henry S. Miller Co.

Commercial real estate soon got into Staubach’s blood. “I liked it and stuck with it,” he said.

CRE got into my blood, too, so I hold onto a lot of business cards. More cards and star-sighting stories to come, so check back soon.

APS Will Raze Part of IBM Complex for New Buckhead High School

2011-12-23T16:56:41-05:00

ATLANTA (Dec. 23, 2011) - Plans for the new high school in north Atlanta, a.k.a. "Buckhead High," are starting to crystalize.

Today, plans were revealed that show Atlanta Public Schools plans to redevelop the existing IBM campus on Northside Parkside into the new high school. That much has been known for a while. (Photo courtesy of IBM.com.)

What's new is this:

"Site will be redeveloped by removing one office building and approximately 1400 parking spaces to construct a new assembly building and athletic fields," according to a Development of Regional Impact (DRI) filing made public today.

The project size will be 475,000 square feet and accommodate 1,800 to 2,200 students, the filing states. The new high school at 4111 Northside Parkway will be completed in 2013.

In February, Atlanta school board members voted to acquire the 56-acre site for more than $56 million, The Atlanta Journal-Constitition reported.

The two buildings comprise 785,000 square feet of office and traning space built in 1978. Current tenant IBM is scouting new locations for a consolidated regional office. Jamestown acquired the campus in 2003.

Since the February vote, Buckhead residents have speculated about whether both IBM building would be razed or one or both would be used to house the new Buckhead high school. Today's DRI filing sheds some light.

The school system will tear down one builing and incoporate the other. Let's deem it a half-adaptive-reuse project.

Atlanta's Mayor Knows Importance of #CRE to City

2011-12-19T12:04:42-05:00

ATLANTA (Dec. 19, 2011) - If there's a major-city mayor who's worked better with the city's commercial real estate market than Atlanta's Kasim Reed, I'd like to meet him or her.

Mayor Reed has emerged as a critical figure in the city's attempt to resurrect its CRE market, and that's important. Commercial real estate built Atlanta, figuratively and literally. Some say commercial real estate is to Atlanta what cars are (were) to Detroit.

The long list of developers who made Atlanta an international city is long and includes John Portman, Tom Cousins, Frank Carter and Don Childress.

Last week, the Atlanta Commercial Board of Realtors honored Reed's efforts. The influential industry group awarded its Henry H. Robinson Award to the mayor at its annual business luncheon. (In photo at left, Mayor Reed, center, accepts the award from 2011 Awards Chair Billy Hobbs, left, and Board President John Ferguson of CBRE.)

The award goes to people outside CRE who make an "outstanding contribution to the real estate industry."

Reed's contrubtions are highly visible. He oversaw two key CRE transactions in the city in the past 14 months.

In July, Reed celebrated the sale of City Hall East, the humongous former Sears warehouse on Ponce de Leon, to hometown firm Jamestown. The 2 million-square-foot hodgepodhge of buildings sat mostly vacant after another CRE group failed in its attempt to redevelopment the property.

In Jamestown, Reed helped the city find a well-financed partner led by a Morningside resident who wanted to get Jamestown involved in its hometown after a 10-year development absence.

In November 2010, the mayor accepted from Cox Enterprises, on the city's behalf, the donation of the former Atlanta Journal-Constitution building at 72 Marietta St. downtown. The city will house employees in the building that had been the anchor of Marietta Street for three decades. An empty AJC building would have pulled down the Marietta corridor, which is showing signs a couple blocks away.

It clearly took vision and persuasion on Reed'd part to get Cox to give the city a building valued at $50 million (the tax writeoff notwithstanding).

Moving forward, I'm sure we'll see more CRE activity from the mayor's office that benefits city residents. (Disclosure: I served on the communications committee of Kasim Reed for Mayor, Inc.)

@AJC Taps Chris Quinn as Interim #CRE Reporter

2011-11-16T12:07:28-05:00

ATLANTA (Nov. 16, 2011) - Residential real estate reporter Christopher Quinn, with assist from banking reporter Scott Trubey, will serve as interim commercial real estate reporter at The Atlanta Journal-Constitution.

Insiders say the AJC is committed to the all-important CRE beat and will name a permanent replacement for Rachel Tobin, whose last day the paper was Monday. Tobin, president of the Atlanta Press Club, left journalism for a public relations job at Midtown-based Jackson Spalding.

Tobin makes the move to PR after a career in newspapers that included stints at Atlanta Business Chronicle and The Daily Report. As mainstream media continue to struggle, public relations has become a nice career alternative for reporters who can wite and think critically. Journalists are exposed to a variety of PR pitching styles, and they know which ones are effective.

At Jackson Spalding, she'll represent OliverMcMillan's Buckhead Atlanta (Streets of Buckhead) and the Gulch project in downtown Atlanta.

As for CRE at the AJC, Quinn, right, will be busy. Residential real estate in Atlanta remain shaky and foreclosure notices are on the rise in Georgia. Not that media focus on the negative, but the residential malaisse will command much of Quinn's time.

It makes sense for Trubey to contribute, too, because commercial real estate is all about finance, income-producing properties and investment. Plus, commercial real estate has caused banks (especially community banks) more distress in the past three years than any other part of their operations.

We'll keep you posted on when/if a permanent CRE reporter is named at the paper that used to say it Covers Dixie Like the Dew.

Watershed Moving to The Brookwood

2011-11-14T15:17:33-05:00

ATLANTA (Nov. 14, 2011) - The piece of Peachtree Street that borders Brookwood Hills might have lost out on a 24-hour barber shop (darn), but it's getting a monumental place for fried chicken.

Traci Buch, who works for Liz Lapidus Public Relations, just issued a press release saying Watershed (that of the kick-ass fried chicken) will open at The Brookwood Condominium next spring. The Brookwood's original developer - Mark Riley of Urban Realty Partners - said the building's prime restaurant space would attract a great restaurant. Though it took some time, Riley ultimately was right.

"It's a new day in the neighborhood for the Atlanta family and foodie community and I am thrilled to be a part of it," said co-owner and Indigo Girl Emily Saliers. “I can't wait to bring family and friends out to the new location to taste Chef Truex’s new menu.”

Here's the release.

ATLANTA (November 14, 2011) Watershed restaurant, an award-winning Southern-inspired eatery that pioneered the Decatur dining scene when it hung its shingle on a converted gas station 13 years ago, is re-locating to The Brookwood, a 219-unit, mixed-use condominium community located on Peachtree Street in the heart of the historic Brookwood neighborhood.

The move will empower owners Ross Jones, Indigo Girls’ Emily Saliers and Chef Joe Truex to realize their dream of growing the business with private dining, a patio and a wealth of parking. They plan to maintain the integrity of the Watershed brand, including the inspired cuisine of acclaimed Chef Truex, while updating it with a modern sensibility reflective of the new location. Diners can expect to see General Manager Jones on the floor and Chef Truex in the kitchen of this Smith Hanes-designed 175-seat jewel.

"It's a new day in the neighborhood for the Atlanta family and foodie community and I am thrilled to be a part of it," said Saliers. “I can't wait to bring family and friends out to the new location to taste Chef Truex’s new menu.”

With the new location – set to open in Spring 2012 – comes a refined editing of the menu. Truex plans to update Watershed’s Southern-inspired cuisine with flavors from the Georgia Coast to the Louisiana Bayou and everything in between including the diverse ethnic flavors found throughout the South. The restaurant will continue to boast an expansive wine program – including the monthly wine club tastings – and bring back Fried Chicken Night with a twist.

The toque was tapped to Truex in 2010 with the departure of long-time chef Scott Peacock. A Louisiana native, Truex came to Watershed after closing his award-winning eatery, Repast. With a degree from the Culinary Institute of America his career has taken him from New Orleans to New York and Basel, Switzerland. He came to Atlanta as executive chef of the Swissôtel and later Château Élan Winery and Resort in Braselton, before opening Repast in 2005.

An in-town estate with magnificent floor plans and striking interiors, The Brookwood rises 18 stories above street level in one of the city’s most desirable and walkable neighborhoods, just seconds from Midtown to the south and Buckhead’s Peachtree Battle to the north. A truly unexpected retreat in the city, The Brookwood boasts stunning interiors and exceptional amenities and services. Built green for both healthy living and energy conservation, The Brookwood is Atlanta’s only LEED certified high-rise condominium community.

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Memorial Service at 2 p.m. Thursday for Atlanta #CRE Great Who Died After Fall

2011-11-08T17:24:00-05:00

Update on memorial: BEEBE, Marshall Marshall Jones "Skip" Beebe of Atlanta died November 7, 2011. A memorial service will be held Thursday, November 10 at 2 o'clock at All Saints Episcopal Church. Online condolences may be made at hmpattersonspringhill.com.

ATLANTA (Nov. 8, 2011) - Atlanta's commercial real estate community lost one of its finest members today as Skip Beebe, who led CBRE's Atlanta office and Eastern Division for several years, died due to complications from a fall Monday night in Atlanta.

Beebe, who most recently served as CBRE's Chief Learning Officer, was remembered today as a smart, kind person and mentor with the strength to lead CBRE's vital Eastern Division as the company grew into one of the world's largest commercial real estate companies.

In July 1999, Los Angeles-based CBRE completed a reorganization that included moving its Eastern Division HQ to Atlanta and namong Beebe as its leader. "A huge part of the strength of the company is along the East Coast, and now we have an organization that will allow us to take full advantage of it," Beebe told me during an interview.

Beebe also served as the Ledbetter Professor of the Practice of Real Estate Development at Georgia Tech.

Many attendees of the CoreNet Global Fall Summit, which wrapped up today, shared memories of Skip. Here's what CBRE CEO Brett White said in a memo to CBRE's employees around the world.

Date: November 8, 2011

To: Global Employees

From: Brett White

Subject: Skip Beebe

CBRE, Inc.

www.cbre.com

It is with great sadness that I inform you of the passing of our longtime friend and retired colleague, Skip Beebe. Skip passed away suddenly last night due to complications from a fall.

Skip spent 14 years at CBRE before his retirement in 2007. He touched many lives and influenced many careers here—as the leader of our Atlanta office; President of the Eastern Division and most recently, as our Chief Learning Officer. Since his retirement, Skip remained a positive influence at CBRE, serving as a mentor and counselor to many of our people and a popular instructor at CBRE University.

Skip will always be remembered as the quintessential CBRE professional, who upheld our RISE values daily and drew the most professional satisfaction from helping others to grow, succeed and prosper. The entire CBRE community mourns his untimely passing.

We will provide details about services as soon as they are available. In the meantime, please join me in keeping his wife, Anne, and his family in your thoughts.

Spotlight Shines on Atlanta as CoreNet Fall Summit Kicks Off

2011-11-07T10:22:58-05:00

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

2011-10-27T15:18:31-04:00

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.

Top #CRE Editor Lands New Job - With Archrival

2011-10-12T16:05:02-04:00

ATLANTA (Oct. 12, 2011) - Matt Valley, squeezed out of his job last month at Penton's National Real Estate Investor magazine, has landed - at one of Penton's key rivals.

Matt started about two weeks ago at France Media, the Atlanta-based publisher of several real estate trades and newsletters including Shopping Center Business, REBusinessOnline and regional magazines and newsletter across the country.

(In photo, Matt is on right, with Bob Simons of WNS client Hartman Simons law firm.)

Matt's move to France Media drips with history and intrigue. As editor of NREI, Shopping Center World and Midwest Real Estate News, he competed directly with France, then known as France Publications. Penton predecessors Intertec and Primedia Intertec frowned upon interaciton with the competition at national real estate conferences during the commercial real estate heyday of the late 1990s.

For France Media Publisher/CEO/founder Jerry France, who founded Shopping Center Business and other trades, hiring Matt is a shrewd move. He gets someone with with 16 years of experience at top trades who knows the competition. Plus, France doesn't have to pay Valley any moving expenses.

"I'm glad I got to stay in the business and [in Atlanta]," said Valley, who also wanted to crow about the Detroit Tigers and Detroit Lions. (He said the Lions' 5-0 start is "tenuous. I've seen it before.")

At France Media, Matt oversees some of France Media's newsletters and regional publications including Heartland Real Estate Business.

24/7 Barber Shop Filling Vacant Huey's Spot in Buckhead

2011-09-26T11:26:57-04:00

By Tony Wilbert, Wilbert News Strategies

ATLANTA (Sept. 26, 2011) - Things are getting a little hairy on the strip of Peachtree Street that runs along Atlanta's Brookwood micro-submarket.

The hair care industry is filling a lot of vacant retail space in this 'tweener market. The latest is Ernesto's Cuts, a 24/7 barber shop setting up shop at the former Huey's location at 1816 Peachtree Road. The structure, built in 1946, is a mere 1,622 square feet inside. The Trilogy Group represents the landlord.

Ernesto's is moving from its old location in the Citgo center next to the Shepherd Center that could one day be home to a key Atlanta BeltLine hub. The new location is right next to the new, "Eco-Gorgeous" Brookwood condo building.

In addition to Ernesto's, a Sunny's Hair & Wigs outlet opened recently is a shuttered Sage clothing location, and hair care giant Aveda is close to opening an Aveda Institute training center and salon at the former Border's Books location at Peachtree and Deering. Henry James Salon, where you can get hair extensions and skin care, also recently opened on Peachtree in the Brookwood micromarket (brick building in background of photo).

It's anyone's guess about why so many hair care places are opening in outlets that used ot house restaurants and book stores. But like health care, you need to get your hair cut, hair done or hair elongated even in a double-dip recession.

As for Ernesto's opening in the neighborhood, I have mixed feelings. The former restaurant space at one time was slated to be a new Pig N Chick location, and that I love barbecue. As for haircuts, I'll stick with Tommy's. On the positive side, it's nice to see a too-long-vacant space about to be filled with a tenant.

On Sunday, workers used Bobcats and shovels to remove the shrubbery from the site along Peachtree.

The landlord at 1816 Peachtree, listed in Fulton County property records as MCS Realty Co. of McLean, Va., must be happy to have a new tenant.

Hope they provide plenty of parking for the tight spot.