Dewberry Adds Another Midtown Parcel to Portfolio

ATLANTA-Area brokers following the Midtown office and multifamily markets tell GlobeSt.com that Dewberry Capital Corp. has acquired about a half acre (21,780 sf) at the northeast corner of 19th and Spring streets near a Peachtree Street site where the company plans to erect two office towers, two high-rise condominium communities and a 600-unit apartment complex. A development time frame is being worked out.

Dewberry Capital, headed by John Dewberry, a former Georgia Tech University quarterback, purchased the parcel from Steven Selig III for a price brokers estimate at $762,300, or about $35 per sf. Brokers base their estimate on recent area land deals that have closed for about the same per-sf-price.

Dewberry Capital recently completed a four-year assemblage of a prime Midtown block with the purchase of a 14,000-sf parcel at the corner of 10th and Juniper streets, as GlobeSt.com previously reported. Brokers estimated the value of that deal at $500,000.