ATLANTA | Development Thread V

[UVAsuperman]

I don't think there is currently a building out there meeting the needs that I am guessing about. Most new midtown buildings (i.e. 1075 or Peachtree Pointe) have the top floors leased or are older and would need retrofitting for LEED. It would certainly leave a big amount of space to fill at One Atlantic. My guess (and again this is purely a guess) would be something with MetLife on their parcels in north midtown.

[Pessimistic Observer]

Originally Posted by rythym

Well, maybe today isn't going to be as ho-hum as I thought. I dare somebody else to post some good news.

ill do even better heres some bad news and some mediocre news that could become bad news when the gop sqaushes this bill
dems offer transportation plan with better time line than gov perdues
http://atlanta.bizjournals.com/atlanta/stories/2010/02/01/daily71.html

Mandarin Oriental site foreclosed
http://atlanta.bizjournals.com/atlanta/stories/2010/02/01/daily68.html

[ATLaffinity]

Originally Posted by cybele

Well if they move out into a new building doesn't that just leave a big hole in the old one?

That hole is for pop-up art galleries.

[alleystreetindustry]

Originally Posted by Pessimistic Observer

ill do even better heres some bad news and some mediocre news that could become bad news when the gop sqaushes this bill
dems offer transportation plan with better time line than gov perdues
http://atlanta.bizjournals.com/atlanta/stories/2010/02/01/daily71.html

i truly believe most of the politicians in this state are completely senseless and inane. where are our great leaders? for such a beautiful state with incredible potential, it seems every passing year brings no progress. the state of georgia wouldnt exists if it werent for atlanta and the metropolitan area! agh!

as for the commercial real estate market, i say give it time to improve. as soon as its in a relatively healthy and stable condition, bring on the construction! how would somebody even consider building after these past two or so years? shouldnt we learn from our mistakes? then again, it is american nature...

not meaning to hate, i just get so frustrated sometimes with the way things are heading. im doing it out of love for atlanta and georgia!

[sevensixtwo]

Originally Posted by echinatl

YES!

bye bye pine street.

And there's no way AB will build any time soon. This is just posturing to get the sweetest possible deal on a new lease in an existing building.

[jew4life4948]

Originally Posted by alleystreetindustry

i truly believe most of the politicians in this state are completely senseless and inane. where are our great leaders? for such a beautiful state with incredible potential, it seems every passing year brings no progress. the state of georgia wouldnt exists if it werent for atlanta and the metropolitan area! agh!

as for the commercial real estate market, i say give it time to improve. as soon as its in a relatively healthy and stable condition, bring on the construction! how would somebody even consider building after these past two or so years? shouldnt we learn from our mistakes? then again, it is american nature...

not meaning to hate, i just get so frustrated sometimes with the way things are heading. im doing it out of love for atlanta and georgia!

Hopefully we won't have such inadequate regulation of loans and financing that allowed the gult to turn into foreclosures.

[Pessimistic Observer]

I wonder if marta will exist as we know it by the time this is impemented
http://blogs.ajc.com/political-insider-j...a-may-charge-by-the-mile-or-time-of-day/

from what i understand theyll come 120mill short this year in operating cost they plan to cut service in june express bus which isnt theres will be in debt by 2012 clayton county potentially wont have any busses running in 2011

end of this year will be very interesting in terms of mass transit funding even if economy turns around

[simms3_redux]

From what I have heard, large/prestigious law firms such as King and Spalding are increasingly occupying LEED space, more or less for PR reasons, but nonetheless, it is a large trend. I am sure they do not want to share such space with a competing firm, and this quandary combined with the discombobulation of space at One Atlantic provide sufficient enough reasons for them to think about their own building. Still, the way the economy is right now and cap rates going up (leases coming down), building a new building would be a huge investment that could bankrupt the firm. Real estate companies and landlords are changing the format of leasing to not only lower rates and specials, but lesser terms. If King and Spalding can negotiate some sort of deal, get rearranged in One Atlantic, and sign a lease term for only 5 or 10 years (or less), then I bet they stay.

[NativeAtlantan]

i think you mean alston bird, not king n spalding

[nature's calling]

Originally Posted by Pessimistic Observer

I wonder if marta will exist as we know it by the time this is impemented
http://blogs.ajc.com/political-insider-j...a-may-charge-by-the-mile-or-time-of-day/

from what i understand theyll come 120mill short this year in operating cost they plan to cut service in june express bus which isnt theres will be in debt by 2012 clayton county potentially wont have any busses running in 2011

end of this year will be very interesting in terms of mass transit funding even if economy turns around

Sounds like a good idea. It could definitely help out the system since it receives no state funding.

[cabasse]

Originally Posted by skapunkskatedude

While we're on the subject of my lovely school, i got an email from Georgia State today that said that the school is thinking about buying a hotel and making it into student dorms. Any ideas what hotel they might be talking about?

i realize this is a few weeks old but i just stumbled across this on good ol yt:

• Video Link

[gttx]

Anyone know where I might be able to find data about vacancy rates in Atlantic Station? Specifically, I'm wondering about the breakdown in vacancy between office, condos, and rental units.

[cabasse]

loopnet shows office: http://www.loopnet.com/xNet/MainSite/Lis...sults.aspx?linkcode=13910&SCSN=SSCXml#rr

(i had no idea how vacant all three towers are!)

[skapunkskatedude]

Originally Posted by cabasse

i realize this is a few weeks old but i just stumbled across this on good ol yt:

While a lot of this still is true, it's definitely been put on hold since the depths of the recession hit. That being said, that whole intersection of Edgewood Ave and Piedmont Ave is starting to look a lot better as it's filled in. The new frat houses are being built right now, and i think it will make that area seem like theres a lot more going on.

[UVAsuperman]

The Fulton County Daily Report has a lengthy article today regarding Alston & Bird's search for new office space. Here's a blurb about parcels that Daniel Corp. is looking at on A&B's behalf:

One possible spot is a parcel at 17th St., between Spring and West Peachtree streets, that MetLife owns. Another possibility is 1125 Peachtree St., across the street from Kilpatrick Stockton. Daniel and Selig own the land.

Baile said those two locations have a “very high probability” from the developer's standpoint, because they are already owned by Daniel or its partners.

He said that Daniel will talk to the owners of other Midtown parcels under consideration over the next several weeks, but declined to reveal the locations.

One prime candidate could be an undeveloped tract at 1120 and 1140 West Peachtree, just south of Alston's current offices and across the street from the firm's day care center.

There is also the Peachtree Street block painstakingly assembled by developer John K. Dewberry, between 10th and 11th streets, that remains undeveloped.

Full article is here.

[sevensixtwo]

Isn't 1125 Ptree where 12&M phase III is supposed to go? Or is that off the table now?

[micropundit]

Originally Posted by UVAsuperman

The Fulton County Daily Report has a lengthy article today regarding Alston & Bird's search for new office space. Here's a blurb about parcels that Daniel Corp. is looking at on A&B's behalf:



Full article is here.

An interesting take on the Alston & Bird saga is that if Daniel,Selig et al get the deal and move A&B to 1175 Peach, that would add a great deal of energy to 12th & Midtown.

That stretch of Midtown real estate can become a premier urban district if, the current plans prevail. Imagine if Selig, et al buy the Mandarin Oriental site and build the current MO plan; now we are talking a world class environment

[L.ARCH]

What is this I hear? Can it be optimism?

[Pessimistic Observer]

Originally Posted by L.ARCH

What is this I hear? Can it be optimism?

of the blind variety
dont get me wrong i'm not saying these things cant happen its just that i believe the people with the money have a longer timetable in mind that what we would like which is in my case, go big or go home and break ground tomorrow.

[BlueSangha]

Originally Posted by Pessimistic Observer

I wonder if marta will exist as we know it by the time this is impemented
http://blogs.ajc.com/political-insider-j...a-may-charge-by-the-mile-or-time-of-day/

from what i understand theyll come 120mill short this year in operating cost they plan to cut service in june express bus which isnt theres will be in debt by 2012 clayton county potentially wont have any busses running in 2011

end of this year will be very interesting in terms of mass transit funding even if economy turns around

MARTA can eat shit and die for all I care. Why the hell should I have to pay by the mile, when the train has to go there anyway. I have to walk three and a half miles to get to a bus stop. What a crock of shit-I'de love to be the one to tell the CEO just how shitty her transportation system is. How 'bout you work on customer service-that's free and will get you more riders. How 'bout not running $60 million shortfalls-didn't you just blow a huge chunk of change to build the railyard at Lindbergh that ran over by $27 million? Didn't you just spend god knows how much to convert to the breeze system that charges $5 for a piece of plastic that expires and .50 for the paper version? Talk about extortion. I'll be sure to save up for a car so i never have to give another dime to that hell hole when that plan goes into effect.