MidCity was formed through a merger of Forum Development Group and the Griffin Co., with Forum co-founder Ron Pfohl and Griffin president Kirk Demetrops serving as principals of the new firm. Griffin closed in June, four months after the death of founder and owner Joel Griffin, after more than 30 years in business.
"MidCity strongly believes the next three years will present buying opportunities not seen for 20 years," Pfohl says. The new company will focus on retail, office and mixed-use properties in targeted submarkets.
"Our ideal markets are urban submarkets and dense, mature suburban submarkets with excellent daytime population," adds Demetrops. "These markets in the Southeast are full of opportunities to reposition and redevelop existing properties."
Forum Development is best known for developing The Forum-Peachtree Parkway, a 570,000-square-foot mixed-use project in Peachtree Corners, and The Forum-Carlsbad, a 265,000-square-foot mixed-use center in Carlsbad, CA. Before starting the company, Pfohl was senior vice president of development with Cousins MarketCenters, a division of Atlanta-based Cousins Properties Inc.
Demetrops joined Griffin in 2000 and led the company's development and acquisition strategies before becoming its president two years ago. He completed the 370,000-square-foot NorthPlace mixed-use project and negotiated land sale, development agreement and construction contract with JAS last year.
In addition to JAS' new headquarters, MidCity is developing Gulf Coast Promenade, a 700,000-square-foot regional power center in Biloxi/Gulfport, MS. Forum Development began the project in a joint venture with CBL & Associates Properties Inc.
Also joining MidCity from Griffin are Roger White, executive vice president; Jennifer Somers, chief financial officer; and Rich Drye, vice president. The executives at the newly merged company claim a combined 80 years of commercial real estate experience.
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