DOCSLIB.ORG

Midtown Atlanta’S Innovation District 100% Leased Long-Term to At&T

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Midtown Atlanta’S Innovation District 100% Leased Long-Term to At&T TWO CLASS A OFFICE BUILDINGS IN MIDTOWN ATLANTA’S INNOVATION DISTRICT 100% LEASED LONG-TERM TO AT&T MIDTOWN ONE AND TWO 754 PEACHTREE STREET & 725 WEST PEACHTREE STREET ATLANTA, GEORGIA Executive Summary 285 285 23 41 19 85 19 41 23 285 141 407 85 285 19 13 29 75 78 6 78 78 41 278 MIDTOWN19 13 278 ONE & TWO 23 29 278 MIDTOWN TWO 280 PARKING 285 70 6 ATLANTA 23 29 278 20 20 278 285 280 20 20 MIDTOWN ONE 280 6 407 278 70 85 42 23 29 19 20 278 6 20 166 294 Luxury residential units 166 285 (Under Construction) 155 Not included in offering 70 75 29 85 6 19 23 139 19 29 285 Hartsfield - Jackson Atlanta International Airport 85 407 2 Midtown One and Two Midtown PARKING MIDTOWN TWO MIDTOWN ONE CORE INVESTMENT HIGHLIGHTS • Best-in-class, trophy quality, 794,110 RSF in two office buildings and a 2,459 space parking structure constructed in 2001 and 2002. • 100% leased to AT&T as part of its regional headquarters in Atlanta • Investment grade tenant with a market cap in excess of $174 billion • Triple-net lease structure with annual rent escalations. • Outstanding amenity base provided by its position within the “Midtown Mile,” home of the most dense concentration of cultural and retail amenities in all of Atlanta, as well as 4,100 hotel rooms and and a booming high-rise residential market. 3 • Adjacent to the North Avenue MARTA rail transit station. Executive Summary Executive • Outstanding accessibility provided by proximity to the Downtown Connector (I-85/I-75), which is accessible in less than 3 minutes. Ponce De Leon Avenue and North Avenue are the main east-west surface streets in central Atlanta and are three and four blocks away, respectively. • Conveniently located 12 miles from Hartsfield Jackson International Airport (less than 20 minute driving time), the nearest of any of AT&T’s area locations. MARTA rail service to the airport terminal is a direct, no-transfer trip on both red and yellow lines. • In-place rents below market and drastically below the rental rate required to justify new construction (estimated to be $28 per square foot NNN) • Discount to replacement cost (estimated to be $375+ per square foot) ASSET PROFILE Address 754 Peachtree Street & 725 West Peachtree Street Atlanta, Georgia 30308 Rentable Area Midtown One 512,101 RSF (*includes 13,257 of retail space master leased by AT&T that is physically located in the parking structure) Midtown Two 282,009 RSF Total 794,110 RSF Year Built 2001 (Midtown One) / 2002 (Midtown Two) Stories 16 (Midtown One) / 8 (Midtown Two) Floor Area ± 32,000 SF (Midtown One) / ± 35,000 SF (Midtown Two) Site Acreage 1.86 Acres (Midtown One) / 2.26 Acres (Midtown Two) / 3.10 Acres (Garage) Zoning: C4 / SP12 / C4 % Leased 100% to AT&T Parking Ratio 3.1/1,000 SF (2,459 stalls) in a 9-level above-grade garage On-Site Amenities Conference and training center, restaurants, coffee shop, fitness center with locker rooms MIDTOWN ONE AND TWO ATLANTA, GEORGIA HFF, L.P., as exclusive representative for the Owner, is pleased to present this offering for the leased fee interest in Midtown One and Two (the “Property”), 794,110 rentable square feet in two office buildings and a 2,459 space adjacent parking garage. The Property is 100% leased on a triple-net basis to AT&T (NYSE: T), a global leader in the communications industry. The property was developed as a build-to-suit for BellSouth prior to its 2006 merger with AT&T and reflects its corporate identity within a property also suited for multi-tenant occupancy. Situated in the heart of Midtown Atlanta, the Property enjoys a highly visible and accessible location, convenient to all major surface arteries and the Downtown Connector with presence and frontage on both West Peachtree and Peachtree Streets. The North Avenue MARTA station is adjacent to the property, and the property abuts the Georgia Institute of Technology’s growth eastward across the Downtown Connector at Fifth Street. The factors that attracted AT&T to the site have since attracted other major corporate users 4 such as NCR Corp to recently announce plans to develop a 1.5 million square foot corporate headquarters campus nearby, employing 4,000. Atlanta boasts a diverse and resilient economy and the resurgence is evident in the recent employment growth that has outpaced the nation with 115,000 new jobs added over the past two years and over 72,000 jobs projected to be added in the upcoming year. This growth has had a direct and positive effect on Atlanta office market fundamentals and is Midtown One and Two Midtown also evident in the 7.6 million sf of Class A net absorption over the past 12 quarters, thirty percent of which has occurred in the urban core submarkets of Midtown and Buckhead. This core investment represents a superb opportunity to purchase one of the most well positioned office campuses in Atlanta both for its long- term stable cash flow from a credit tenant and for its long-term market position. It appeals to tenants for whom proximity to the Georgia Institute of Technology in the heart of Midtown’s innovation district is of vital importance. Midtown One and Two are poised to benefit from both a high probability of tenant retention and a current rental rate structure that is well below current and projected future market rental rates. Atlanta Austin Boston Charlotte INVESTMENT SALES Chicago Denver Ralph Smalley Coler Yoakam Managing Director Dallas Managing Director 404.942.2214 469.232.1982 Florham Park (NJ) [email protected] [email protected] Hartford John Jugl Kelly Kuykendall Houston Senior Managing Director Associate Director 303.515.8018 Indianapolis 404.942.2220 [email protected] [email protected] Los Angeles Michael George Miami Real Estate Analyst New York 469.232.1906 Orange County (CA) [email protected] Orlando FINANCING Philadelphia Pittsburgh Mark West Brandon Chavoya Portland (OR) Senior Managing Director Managing Director 469.232.1974 469.232.1967 San Diego [email protected] [email protected] San Francisco Tampa Washington, DC ©2015 HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff. HFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions,assumptions, or estimates contained herein are projections only and used for illustrative purposes and may 3424 Peachtree Road, Suite 1750 be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own Atlanta GA, 30326 independent investigation and rely on those results. The information contained herein is subject to change..
Load more

Recommended publications
  • Raise the Curtain
    JAN-FEB 2016 THEAtlanta OFFICIAL VISITORS GUIDE OF AtLANTA CoNVENTI ON &Now VISITORS BUREAU ATLANTA.NET RAISE THE CURTAIN THE NEW YEAR USHERS IN EXCITING NEW ADDITIONS TO SOME OF AtLANTA’S FAVORITE ATTRACTIONS INCLUDING THE WORLDS OF PUPPETRY MUSEUM AT CENTER FOR PUPPETRY ARTS. B ARGAIN BITES SEE PAGE 24 V ALENTINE’S DAY GIFT GUIDE SEE PAGE 32 SOP RTS CENTRAL SEE PAGE 36 ATLANTA’S MUST-SEA ATTRACTION. In 2015, Georgia Aquarium won the TripAdvisor Travelers’ Choice award as the #1 aquarium in the U.S. Don’t miss this amazing attraction while you’re here in Atlanta. For one low price, you’ll see all the exhibits and shows, and you’ll get a special discount when you book online. Plan your visit today at GeorgiaAquarium.org | 404.581.4000 | Georgia Aquarium is a not-for-profit organization, inspiring awareness and conservation of aquatic animals. F ATLANTA JANUARY-FEBRUARY 2016 O CONTENTS en’s museum DR D CHIL ENE OP E Y R NEWL THE 6 CALENDAR 36 SPORTS OF EVENTS SPORTS CENTRAL 14 Our hottest picks for Start the year with NASCAR, January and February’s basketball and more. what’S new events 38 ARC AROUND 11 INSIDER INFO THE PARK AT our Tips, conventions, discounts Centennial Olympic Park on tickets and visitor anchors a walkable ring of ATTRACTIONS information booth locations. some of the city’s best- It’s all here. known attractions. Think you’ve already seen most of the city’s top visitor 12 NEIGHBORHOODS 39 RESOURCE Explore our neighborhoods GUIDE venues? Update your bucket and find the perfect fit for Attractions, restaurants, list with these new and improved your interests, plus special venues, services and events in each ’hood.
    [Show full text]
  • 12 & MIDTOWN to SHAPE MIDTOWN's FUTURE Daniel
    12th & MIDTOWN TO SHAPE MIDTOWN’S FUTURE Daniel Corporation, Selig Enterprises and the Canyon-Johnson Urban Fund Partner on Atlanta’s Midtown Mile ATLANTA (November 10, 2006) — Daniel Corporation, Selig Enterprises and the Canyon-Johnson Urban Fund (CJUF) today announce plans for 12th & Midtown. Spanning three city blocks, 12th & Midtown is a 2.5-million-square-foot mixed-use development featuring Class A office towers, luxury hotels, premium residences and flagship retail. With this development, the team becomes the largest single contributor to Atlanta’s Midtown Mile. “The City of Atlanta is dedicated to improving the Atlanta experience for residents and visitors alike – and 12th & Midtown is a giant step forward in accomplishing this goal,” said Atlanta Mayor Shirley Franklin. “We are thrilled that Daniel Corporation and Selig Enterprises have teamed up with Earvin “Magic” Johnson and the Canyon-Johnson Urban Fund again. As a team they are committed to providing an improved quality of life for Atlantans while continuing to contribute to the economic growth for the state of Georgia.” The partners have strategically assembled three city blocks at the intersection of Peachtree and 12th streets to create a robust master-plan in the heart of Midtown, which will feature more than 1.2 million square feet of Class A office space, over 500 hotel rooms, more than 600 residences and up to 150,000 square feet of flagship retail space. The development is designed to enhance the pedestrian streetscape and to maximize views of the Atlanta skyline and Piedmont Park. The street level has been carefully designed to accommodate the demands of world-renowned flagship retailers, including 35-foot-high storefronts and super-graphic displays, for a commanding presence along Atlanta’s Midtown Mile.
    [Show full text]
  • Midtown Mile Parking Assessment Midtown Mile
    Draft Executive Summary MidtownMidtownMidtown Mile MileMile Parking ParkingParking Assessment DraftAssessmentAssessment Executive Summar y Executive Summary May 2008 June 2008 Midtown Mile Parking Assessment Executive Summary This document provides an overview of the study purpose, methodology, and findings for the Existing parking capacity was assessed through existing and future parking conditions for the Midtown Mile retail initiative. several means. Field observations, stakeholder input, surveys given to local merchants, and data PURPOSE AND STUDY AREA OVERVIEW collection (occupancy and turnover studies) were completed to assess the location, capacity, and The Midtown Alliance’s mission is to usefulness of the existing parking supply. At the improve and sustain the quality of life for request of several stakeholders, a quality of parking those who live, work, and play in Midtown analysis was performed to gauge the suitability of Atlanta. As a result of their efforts, each deck for retail parking. In addition, research Midtown has become a thriving mixed- was performed to determine how the existing zoning use, high-density city center, energized standards for Midtown Atlanta compared with similar by tremendous growth in the residential cities. This data was used to determine the existing base, work force, arts, and retail parking capacity/demand for the Midtown Mile area. development. Recent in-town retail The analysis determined the number of available development revitalization has presented spaces for retail customers from an individual block the Midtown community with a once-in-a- and broader zone basis. lifetime opportunity to create a premier shopping destination along Peachtree The future parking demand for the Midtown Mile Street.
    [Show full text]
  • 2. Economic Development
    CCommunityommunity AssessmentAssessment - 2.2. EconomicEconomic DevelopmentDevelopment 2. ECONOMIC DEVELOPMENT The Economic Development sec on of the City of Atlanta’s Comprehensive Development Plan includes an analysis of the City’s economic base, or jobs in the City; the labor force, or those workers who live in the City; economic trends ac ec ng the City; and the City’s economic development resources, including agencies and programs dedicated to crea ng economic growth in Atlanta. The intent of this sec on is to integrate economic development into the community comprehensive planning process so that the City can iden fy its priori es in economic needs, facili es, land uses and goals. Economic Base This sec on describes the City of Atlanta’s economic base, or those jobs which are located in the City of Atlanta. Trends in business employment, industries and wages are presented and compared to trends in the Atlanta MSA, Geor- gia and the na on (where available). This sec on includes data on the City’s employment industry mix and includes projec ons by industry. Business Employment In the 2nd quarter of 2009, there were 378,109 jobs in the City of Atlanta, represen ng 17.1% of the Atlanta MSA’s jobs (2.2 million) and 9.9% of the State’s jobs (3.8 million) (Table 2-1). The number of jobs in the City decreased by 90,305 jobs, or 19.3%, from 2000 to the 2nd quarter of 2009, a signi cantly higher rate than in the MSA, where the number of jobs decreased by 0.7%; in the State, where the number of jobs decreased by 1.6%; and in the na on, where the number of jobs decreased by 1.0% over the same period.
    [Show full text]
  • At the Heart of Midtown the Mixed-Use 12Th & Midtown Project Will Be the Cornerstone of Atlanta’S Midtown Mile, Including About 300,000 Square Feet of Flagship Retail
    MAY 2007 At The Heart Of Midtown The mixed-use 12th & Midtown project will be the cornerstone of Atlanta’s Midtown Mile, including about 300,000 square feet of flagship retail. Randall Shearin big change is coming to Midtown Atlanta. More than 1 million Asquare feet of retail is anticipat- ed to be open along a 1-mile stretch of Peachtree Street over the next 8 years. One development, 12th & Midtown, will host the largest congruent mass of that retail. The area will change the way Atlanta — a city where people love malls — shops. The mile-long district, which already contains millions of square feet of office space and thousands of condominiums and apart- ments, is being marketed toward high end retailers and restaurants to create a Mag- nificent Mile for Atlanta. Shopping Center Business recently met with representatives from the developers of 12th & Midtown. Attending the meeting were Steve Baile, senior vice president of Atlanta operations for Daniel Corporation Selig Enterprises and Daniel Corp. are developing 12th & Midtown. and Shirley Gouffon, senior vice president The first phase of retail will contain 50,000 square feet of retail, and of Selig Enterprises. subsequent phases will create up to 300,000 square feet of retail space. To handle the retail aspects of its mixed- next project in Atlanta. The company first ONE PROJECT LAUNCHES ANOTHER use projects, Daniel created a joint venture acquired a parcel at 12th and Peachtree Selig and Daniel came together to work with one of Atlanta’s top intown retail Streets. Soon, it acquired other parcels on 12th & Midtown in an interesting way.
    [Show full text]
  • Midtown Station: an Urban Core Station Commission Landpro 2009
    MIDTOWN Page 1 of 3 STATION Station Area Profile Transit Oriented Development Land Use Within 1/2 Mile STATION LOCATION 41 Tenth Street, NE Atlanta, GA 30309 Sources: MARTA GIS Analysis 2011 & Atlanta Regional Midtown Station: An Urban Core Station Commission LandPro 2009. The MARTA Transit Oriented Development Guidelines Residential Demographics 1/2 Mile classify Midtown as an “Urban Core” station. The Population 9,674 “Guidelines” present a typology of stations ranging from Urban Core stations, like Midtown, to Collector stations - Median Age 35.4 i.e., end of the line auto commuter oriented stations Households 6,645 such as Indian Creek or North Springs. This classification Avg. Household Size 1.37 STATION ESSENTIALS system reflects both a station’s location and its primary Median Household Income $63,110 function. The “Guidelines” define Urban Core stations Daily Entries: 5,549 as “…metropolitan-level destinations, at or near the cen- Per Capita Income $54,267 Parking Capacity: 0 ter of the transportation system, where peak hour con- Business Demographics 1 Mile Parking gestion is most challenging and where the region’s high- Businesses 3,144 Utilization: n/a est transit and pedestrian mode shares (i.e., highest per- Employees 54,609 centage of people arriving by transit or on foot rather Station Type: Subway %White Collar 79.3 than driving) are achievable”. In the heart of Atlanta’s %Blue Collar 8.7 Station Typology Urban Core popular Midtown district, Midtown station attracts an %Unemployed 21.1 inbound ridership of workers, students and city visitor Land Area Source: Site To Do Business on-line, 2011 +/- 1.4 acres heading to the neighborhoods myriad offices, shops and restaurants, educational and cultural institutions.
    [Show full text]
  • Student Packet for Atlanta
    Student Packet for Atlanta Residence Inn Midtown Address: Residence Inn Midtown 1365 Peachtree Street Atlanta, GA 30309 HSU Registration Questions: (888) 282-7817 Hotel Facility Questions: (404) 745-1000 Sleeping Room Rate: $139.00 a night Reference (HS University) when booking. Group Rate will end June 11, 2013. Facility Description: When searching for Atlanta Midtown Hotels, the Residence Inn Atlanta Midtown/17th Street is ready to be your home away from home. Perfect for short or extended stays in Atlanta, GA, our spacious suites include separate living and working areas, a full kitchen, flat screen TVs, and a renovated, modern decor. The Residence Inn Atlanta Midtown Hotel on 17th and Peachtree Street has all the amenities you need to make your stay as relaxing or productive as possible! Complimentary high speed wireless internet and free hot breakfast are available to all guests. With 3,000 sq ft of event space, you'll find the Residence Inn Atlanta Midtown to be ideal among nearby hotels for weddings, receptions, and meetings in Atlanta, GA. Plus, when it comes to value, we stand above other Atlanta Midtown hotels; we provide an evening reception each night & handle your grocery shopping for you while you explore Midtown. The High Museum of Art, Alliance Theatre, Atlantic Station, Center Stage, Fox Theatre & more are all steps away. Located North of Downtown Atlanta our Midtown hotel is near Georgia Tech, Piedmont Park & More. The bustling neighborhood of Midtown is often considered Atlanta's most walkable neighborhood. The area is known for superb dining & nightlife. Plus shoppers will enjoy the emerging Midtown Mile.
    [Show full text]
  • Parking: Its Effect on the Form and the Experience of the City
    Parking: Its Effect on the Form and the Experience of the City Stephen Taul School of City and Regional Planning College of Architecture Georgia Institute of Technology Spring 2012 ADVISOR: Richard Dagenhart TABLE OF CONTENTS Abstract 3 Introduction 4 Historical Background 5 Quantity: The rise of the automobile Ownership: Early parking garages Design: Beginning of off-street parking Recent Practices 9 Quantity: Parking requirements in 10 US cities Ownership: In-lieu fees in practice Design: Current strategies Atlanta Research 20 Quantity: Comparison of parking requirements Ownership: Parcel analysis Design: Building typologies Atlanta Conclusions/Recommendations 42 General Conclusions 44 - 2 - Abstract This paper argues for the rethinking of parking policy to maximize social interaction in the public realm. This proposal is framed by three questions. First, what are the recent findings from urban design and planning research and practice about the proper amount, ownership structure, and design of parking to enable walkable urbanism? Second, what specific characteristics enable parking to be integrated into dense urban districts without sacrificing the social significance of the public realm? Third, what policies and design strategies can be developed, based on the evidence above, to promote the creation of walkable urbanism? Three urban districts in Atlanta are the focus of the detailed analysis of parking. These are Downtown, Midtown and Buckhead. These three districts were chosen because of their similar status as the three largest commercial and financial districts in the city, but unique orientation to the automobile. Their current parking requirements are compared based on quantity as well as other factors. Parcel data is used to show the parcels with parking as a principle land used to roughly estimate the amount of street activity generated by parking.
    [Show full text]
  • Midtown Atlanta Parking Assessment and Action Plan
    Request for Proposals For the Midtown Atlanta Parking Assessment and Action Plan Issued by: Consultant Selection Schedule RFP Release Date March 19, 2014 Questions Due March 26, 2014 Proposals Due April 16, 2014 Interviews (if necessary) Week of April 21, 2014 Consultant Selection April 25, 2014 Contact Information: Dan Hourigan Midtown Alliance 999 Peachtree Street NE, Suite 730 Atlanta, Georgia 30309 [email protected] Introduction Midtown Alliance seeks a qualified consultant firm or team of firms with appropriate expertise to conduct a parking assessment and implementation strategy for the core of Midtown Atlanta (see Study Area below). The purpose of this study is to develop an implementable parking management plan that encourages continued economic development, improves the user experience, enhances the pedestrian realm, and supports existing investments in transit infrastructure. The plan should include an assessment of existing and future parking conditions, recommend strategies to address on-street and off-street parking challenges, and develop a pilot parking collaborative project. About Midtown and Midtown Alliance Located in the geographic center of the Atlanta region, the core of Midtown is a dense, pedestrian-friendly mixed-use district with 43,000 daytime workers, 13,000 residents, and over 9 million visitors. Midtown features more than 20 million SF of office space, 11,000 multifamily housing units, 4,000 hotel rooms, and almost 1 million SF of retail space. It is home to many of Atlanta’s top cultural and institutional assets – the Atlanta Botanical Garden, Emory University Hospital, Georgia Tech, Piedmont Park, Savannah College of Art and Design-Atlanta, and Woodruff Arts Center.
    [Show full text]
  • HOPE SETS NEW GPA GUIDELINE Georgia Scholarship Standardizes Grade Calculation, Limits Scholarship Amount
    S I N C E 1 9 4 7 An up beat paper www.gradyhighschool.org/ for a down town school southernersoutherner L I C E N S E M A R C H I N G B A N D LAWS Knights of Sound Joshua’s Law alters perform at teenage license rules Georgia Aquarium p. 8-9 p. 10 HENRY W. GRADY HIGH SCHOOL, ATLANTA VOLUME LX, NUM BER 4, DEC. 14, 2006 HOPE SETS NEW GPA GUIDELINE Georgia scholarship standardizes grade calculation, limits scholarship amount BY EMMA DIN tandards for the Helping For more information on Outstanding Pupils Educationally the HOPE scholarship, Sscholarship will become more contact the counseling rigorous after a law passed by the department or visit Georgia General Assembly in 2004 goes into effect April 30, 2007. The law www.gsfc.org/hope standardizes the method for calculating the scholarship’s qualifying grade point average, adds more academic checkpoints for recipients of the scholarship already in DOUGLAS KELLY college and places fee caps on the amount HOPE will pay. Former Gov. Zell Miller developed the HOPE program as Mrs. Bob Cratchit’s Wild Christmas Binge brings irreverent holiday cheer part of his 1990 gubernatorial campaign. The HOPE program, Sophomore Sean Slocum (left) and junior Katie O’Brien waltz as they portray Mr. and Mrs. Fezziwig in the Grady Drama which is funded by the Georgia Lottery for Education, provides Club’s winter production. The play pokes fun at Charles Dickens’ A Christmas Carol and alludes to other holiday stories. scholarships and grants to Georgia residents who plan to attend a post-secondary institution located in Georgia.
    [Show full text]
  • Offering Memorandum 12-Unit Multifamily Opportunity | Prime Midtown Location | Covered Land Play Table of Contents
    OFFERING MEMORANDUM 12-UNIT MULTIFAMILY OPPORTUNITY | PRIME MIDTOWN LOCATION | COVERED LAND PLAY TABLE OF CONTENTS Michael Wess, CCIM PROPERTY INFORMATION 3 Partner, Bull Realty EXECUTIVE SUMMARY 4 [email protected] 404-876-1640 x150 PROPERTY INFORMATION 5 PHOTOS 6 Andy Lundsberg Partner, Bull Realty [email protected] AREA OVERVIEW 9 404-876-1640 x107 ABOUT THE AREA 10 RETAILER MAP 11 Bull Realty, Inc. IN THE AREA 12 50 Glenlake Parkway, Suite 600 Atlanta, GA 30328 ATLANTA 13 BullRealty.com ATLANTA TOP EMPLOYERS 14 CONTACT INFORMATION 15 BROKER PROFILE 16 CONFIDENTIALITY AGREEMENT 17 DISCLAIMER 18 Exclusively listed by Bull Realty, Inc. 12-Unit Multifamily Opportunity | Prime Midtown Location | Page 2 o f 1 8 PROPERTY INFORMATION 12-Unit Multifamily Opportunity | Prime Midtown Location | Page 3 o f 1 8 EXECUTIVE SUMMARY PROPERTY DESCRIPTION This charming, fully-renovated, 12-unit multifamily opportunity is located in the heart of Midtown, Atlanta KEY FIGURES and consists of (8) large 1-bedroom units and (4) large studios. The owner recently completed a full renovation of the property (both interior and exterior) and plans to operate as an Airbnb. PROPERTY HIGHLIGHTS 12-units recently-renovated multifamily opportunity 12-Unit All units are currently vacant allowing owner to do long-term leasing or short-term Airbnb Multifamily Opportunity Excellent location in the heart of Midtown, Atlanta near all of the city's amenities Within 4 miles of Piedmont Park, Inman Park, Midtown, Virginia-Highland, Little Five Points and Downtown Atlanta
    [Show full text]
  • Building a Blueprint UPDATE to GUIDE for MIDTOWN DEVELOPMENT UNDERWAY
    MIDTOWN MARKET REPORT FEBRUARY 6-12, 2015 • SECTION B Building a blueprint UPDATE TO GUIDE FOR MIDTOWN DEVELOPMENT UNDERWAY BY TONYA LAYMAN Contributing Writer idtown Alliance is taking a step back to explore what has worked in terms of developing the district M and what needs improvement as Midtown Atlanta they embark on an update to its commu- Development nity-designed master plan, Blueprint Mid- Opportunity town. Th is next iteration of this document will guide development for years to come. Originally created in the mid ’90s, Blue- print Midtown was updated in 2002 and has continued to be refi ned with overlays including “Greenprint Midtown,” which added a “green lens” to increase Mid- town’s sustainability; the Midtown Mile retail strategy; and the design and imple- mentation of new streetscapes, road seg- ments, bike lanes, pocket parks and plazas and a complete bike network plan, among others. “It’s time to update and consolidate Blueprint Midtown and all the overlays into one master plan and guiding document to create Blueprint Midtown 3.0,” said Shan- non Powell, executive vice president and chief operating offi cer at Midtown Alli- ance. “Since the plan was originally con- ceived in the mid ’90s, we have not only experienced phenomenal growth, but we have also completed supplemental studies that have refi ned or added new elements around sustainability, retail, parking and open space.” When the planning process fi rst began, more than 68 percent of the land was con- sidered “ripe for redevelopment.” Despite the more than 50 new private develop- ment projects since then, 25 percent of JOANN VITELLI the land in Midtown remains ripe for redevelopment.
    [Show full text]