ATLANTA | Development Thread VI - Page 447

Pemgin · #**8921** Posted **Jul 15, 2018, 4:28 PM**

As far as needing 500K sq. ft. of office space immediately, AT&T building is kind of hard to beat. Literally sitting on top of a HRT transit station adjacent to Tech Square in the middle of town.

montydawg · #**8922** Posted **Jul 15, 2018, 5:01 PM**

Quote:

Originally Posted by West Peachtree

Atlanta 3000, you are winning the Woodward & Bernstein investigative reporting award.

While I believe Atlanta is a finalist and active negotiations are ongoing, I don’t believe amazon has made a final decision. I would love to be wrong. I believe there are multiple properties in multiple cities in negotiations, and property owners are doing everything they can to leverage their assets and make their property as move-in ready as possible to aid amazon should they be choosen. The AT&T building sorely needs an upgrade with or without Amazon, so from a marketability standpoint, Icahn needs to invest in the building in order to attract new tenants. If a deal had been inked, you would likely not see 18 floors available for rent on loopnet, a commercial real estate website. As an Atlanta property owner, I am excited about amazon coming to Atlanta, but I don’t want us to gleefully think Atlanta was chosen like a Hillary Clinton supporter watching CNN in 2016 (I have painful memories).

Martinman · #**8923** Posted **Jul 15, 2018, 10:00 PM**

Quote:

Originally Posted by montydawg

While I believe Atlanta is a finalist and active negotiations are ongoing, I don’t believe amazon has made a final decision. I would love to be wrong. I believe there are multiple properties in multiple cities in negotiations, and property owners are doing everything they can to leverage their assets and make their property as move-in ready as possible to aid amazon should they be choosen. The AT&T building sorely needs an upgrade with or without Amazon, so from a marketability standpoint, Icahn needs to invest in the building in order to attract new tenants. If a deal had been inked, you would likely not see 18 floors available for rent on loopnet, a commercial real estate website. As an Atlanta property owner, I am excited about amazon coming to Atlanta, but I don’t want us to gleefully think Atlanta was chosen like a Hillary Clinton supporter watching CNN in 2016 (I have painful memories).

I tend to agree. And I think too many times lately, actions by developers and property owners have been interpreted on SSP to mean some HQ announcement was imminent. Actually they are just doing what a developer/property owner does to attract office tenants to their development/property such as renovating a currently dead plaza and outdated lobby area. Of course we would be delighted if Amazon or another big corporation chose Atlanta but it might be a good idea to temper some the expectations based on anything that we've seen so far.

Atlanta3000 · #**8924** Posted **Jul 15, 2018, 10:26 PM**

Quote:

Originally Posted by Martinman

I tend to agree. And I think too many times lately, actions by developers and property owners have been interpreted on SSP to mean some HQ announcement was imminent. Actually they are just doing what a developer/property owner does to attract office tenants to their development/property such as renovating a currently dead plaza and outdated lobby area. Of course we would be delighted if Amazon or another big corporation chose Atlanta but it might be a good idea to temper some the expectations based on anything that we've seen so far.

There is quite a bit more than I can post here, but you are entitled to your opinion.

Atlanta3000 · #**8925** Posted **Jul 15, 2018, 11:04 PM**

I have something I am going to post tomorrow and it is going to blow everyone's minds - not Google, Apple or Amazon.

AtlHeel · #**8926** Posted **Jul 15, 2018, 11:49 PM**

Quote:

Originally Posted by Atlanta3000

I have something I am going to post tomorrow and it is going to blow everyone's minds - not Google, Apple or Amazon.

you're a tease! ...and I love what you bring to this forum

sbrptree · #**8927** Posted **Jul 16, 2018, 12:29 AM**

Quote:

Originally Posted by AtlHeel

you're a tease! ...and I love what you bring to this forum

I'm making a run for Costco NOW!

jayden · #**8928** Posted **Jul 16, 2018, 12:42 AM**

Quote:

Originally Posted by Atlanta3000

I have something I am going to post tomorrow and it is going to blow everyone's minds - not Google, Apple or Amazon.

Is it a highrise in Midtown or Downtown?

West Peachtree · #**8929** Posted **Jul 16, 2018, 1:11 AM**

Quote:

Originally Posted by jayden

Is it a highrise in Midtown or Downtown?

Or is it about Costco - as you've been teasing us "in plain sight" for some time, O ye of great insight and, ideally, even better foresight ?

AtlHeel · #**8930** Posted **Jul 16, 2018, 1:37 AM**

Quote:

Originally Posted by jayden

Is it a highrise in Midtown or Downtown?

I am so ready for a highrise office tower - I think the demand is there!

Atlanta3000 · #**8931** Posted **Jul 16, 2018, 1:46 AM**

Clue: Fiddy Cents

jayden · #**8932** Posted **Jul 16, 2018, 1:52 AM**

Quote:

Originally Posted by Atlanta3000

Clue: Fiddy Cents

50 Allen Plaza?

Atlanta3000 · #**8933** Posted **Jul 16, 2018, 1:59 AM**

Quote:

Originally Posted by jayden

50 Allen Plaza?

I'll give the story tomorrow AM you smart bastard!

AtlHeel · #**8934** Posted **Jul 16, 2018, 2:39 AM**

Quote:

Originally Posted by jayden

50 Allen Plaza?

great call! I hope they've revised the drawings since the last ones published - it seemed a little too bulky for the site. on a second look, it's the fact that it's lots shorter than the orginal.

bigstick · #**8935** Posted **Jul 16, 2018, 11:14 AM**

Quote:

Originally Posted by Atlanta3000

I have something I am going to post tomorrow and it is going to blow everyone's minds - not Google, Apple or Amazon.

Hey Atl3000 go on to CD to shut some people down talking crap about Atl, Amazon, etc,,Thanks...

Atlanta3000 · #**8936** Posted **Jul 16, 2018, 12:11 PM**

Allen Plaza is Back Baby!!!

With much astonishment I noticed 50 Allen Plaza showed up yesterday on Loopnet. I monitor this site weekly and I have not seen this project in years. Loopnet is showing the project was updated 7/11/2018, will have 34 Floors, 871K sqft and will be built by 2020.

As a rule, Loopnet is a good source to see new projects being marketed, but is not necessarily the best source to verify the validity if a project is real or is starting in the near term. So bear with me because I did some research and this one definitely has some teeth.

http://www.loopnet.com/Listing/50-Ivan-Allen-Blvd-NE-Atlanta-GA/4104623/

As many of you remember, Barry Real Estate Companies first proposed 50 Allen Plaza back in 2004 and as we know the economy shit the bed and in 2012 the site was auctioned off and Regent Partners purchased it for $4.5 million. Regent Partners is a very prolific Atlanta developer whose experience includes The Sovereign building in Buckhead.

The ABC reported in May Drapac Capital Partners had put the site under contract and the deal closed last month which is why we are now seeing 50 Allen Plaza back on Loopent. It gets better...much better

Link to ABC article on Drapac purchase of Allen Plaza:
https://webcache.googleusercontent.com/s...1&hl=en&ct=clnk&gl=us&client=firefox-b-1

So who is Drapac Capital Partners? (from their website):
http://www.drapaccapital.com/

At Drapac, we identify opportunities through unorthodox means and focus on the crucial balance between risk management and performance. We have consistently outperformed the broader market and achieved a premium track record of returns across multiple asset classes. With a proven growth trajectory, including expansion into the U.S. in 2011, our current portfolio includes over 12,000 acres of land across multiple markets, with a gross development pipeline of over U.S. $8 billion.

How is Drapac Capital Partners different than every other Developer?

Awwwwwwww.....these mofo's have money! Not Kim Kardashian money, we are talking Kylie Jenner MONEY. As of today Drapac Capital Partners has amassed the following properties in Atlanta:
Around 4,166 acres across 28 projects in mostly the Southeastern suburbs of Atlanta (Covington,GA)

In town Drapac Capital Partners has acquired the following properties:
129 North Ave.

50 Ivan Allen Blvd.

323 Spring St.

245 Auburn Ave.

505 Courtland St

Drapac Capital Partners parcels owned - Allen Plaza area

So is 50 Allen Plaza resurrected from the dead? It sure as hell looks like it and judging from Drapac Capital Partners purchases of properties in the area, these folks are not messing around!

skyscraperpage17 · #**8937** Posted **Jul 16, 2018, 12:34 PM**

That 2020 date has me concerned.

Hopefully, there won't be a recession by then that kills the project (again).

jayden · #**8938** Posted **Jul 16, 2018, 12:56 PM**

Great news about 50 Allen Plaza!

That was my favorite proposal back then so I'm glad it could possibly have a new life. That location would make a really big impact in the downtown skyline.

There was an old rendering with it in the skyline at dawn I believe. Does that still exist?

Jacobguy · #**8939** Posted **Jul 16, 2018, 1:02 PM**

Quote:

Originally Posted by jayden

Great news about 50 Allen Plaza!

That was my favorite proposal back then so I'm glad it could possibly have a new life. That location would make a really big impact in the downtown skyline.

There was an old rendering with it in the skyline at dawn I believe. Does that still exist?

https://m.yelp.ca/biz_photos/allen-plaza-atlanta?select=hr8oWE-Y5clbZKanz2GOyg here’s a blurry one, the only one I could find however that hadn’t been photoshopped with the CokeCola logo

.

alco89 · #**8940** Posted **Jul 16, 2018, 1:05 PM**

Quote:

Originally Posted by jayden

Great news about 50 Allen Plaza!

That was my favorite proposal back then so I'm glad it could possibly have a new life. That location would make a really big impact in the downtown skyline.

There was an old rendering with it in the skyline at dawn I believe. Does that still exist?

....though part of me doubts it'll end up looking like that after all these years (even if it's what we see on loopnet). There's also this more recent concept: