ATLANTA—The successful election of President Donald J. Trump to our nation's highest political office is inspiring several commercial real estate professionals to pursue public office. Many are calling this the “Trump Effect,” and Kirk Rich is hoping his more than 20 years of experience in the commercial real estate industry can help him win a city council seat in Atlanta's sixth District. “Being a successful businessman, Trump has shown the public's desire for nonpolitical and more business-savvy skill sets for elected officials,” says Rich, who is a past president of the Georgia CCIM Chapter. “I was not a Trump supporter and I don't think the 'Trump Effect' is a major impetus, but I do believe that the attributes of commercial real estate professionals, especially CCIMs, serve the public very well in community leadership.”

ATLANTA—Atlanta-based Hotel Equities recently named Juanita Stallworth as the vice president of Human Resources for the firm with 100-plus hotels in 22 states nationwide. Stallworth's responsibilities include oversight of the Human Resources Department including labor law compliance, writing and administering policy, recruiting and staffing, performance management and employee relations. Stallworth joined Hotel Equities from the Atlanta office of Samsung Electronics where she served as a Manager of Human Resources for the past two years. She held the top HR position at Samsung, a Fortune 100 provider of electronics, and partnered with the firm's executive management to grow the business group through innovative human resources management.

DEAL TRACKER

ATLANTA—Cushman & Wakefield signed a 50,203-square-foot lease at 1180 Peachtree, a class A office building located in Atlanta's Midtown submarket. The company will consolidate its two offices to two-and-a-half floors at the building this summer. “Bringing our two offices together will enhance our creativity and collaboration, which will allow us to better serve our clients,” says John O'Neill, managing principal of CushWake's Atlanta office. Hines developed the 41-story building in 2006, which includes 670,000 square feet of class A office space and 27,431 square feet of retail space. 1180 Peachtree was the first high-rise office building in the world to be pre-certified LEED-CS Silver, and an acre of the site is devoted to public spaces, plazas and gardens.

MOBILE, AL—AdCare Health Systems announced it has executed a letter of intent with an affiliate of C.Ross Management to lease an assisted living facility it is acquiring in Alabama. C.Ross, AdCare's largest tenant, operates 21 facilities in Georgia and Alabama. The terms of the long-term lease agreement are expected to include a 13-year term with initial annual cash rent of $450,000 in the first year and a 2% annual rent escalator.

BUILDING BLOCKS

ATLANTA—Trammell Crow Company and its partner, Allstate, started construction on Phase II of King Mill Distribution Park. The project will feature a class A industrial warehouse building comprised of 760,256 square feet built on a speculative or build-to-suit basis. Construction is schedule to complete in the third quarter of 2017. “King Mill Distribution Park offers excellent product flexibility with an existing pad-ready site designed for logistics and corporate users,” says Mark Dishaw, principal in TCC's Atlanta Business Unit. “Due to its location, this area has proven to be one of the best logistical locations for bulk distribution facilities in the Southeastern US.”

In a short week, there is still decent deal flow to report. Most of the activity is in Atlanta, from commercial real estate brokers running for office to promotions to lease consolidations.

BY THE NUMBERS

Atlanta's office space asking rent is likely to push a bit higher in 2017, but not as sharply as in 2015 or 2016. In addition to facing a higher rent, tenants will also find that the rising cost of space build-outs requires them to contribute significant capex to new projects over and above the landlord allowance. (Source: Savills Studley)

NEWS & NOTABLES

ATLANTA—The successful election of President Donald J. Trump to our nation's highest political office is inspiring several commercial real estate professionals to pursue public office. Many are calling this the “Trump Effect,” and Kirk Rich is hoping his more than 20 years of experience in the commercial real estate industry can help him win a city council seat in Atlanta's sixth District. “Being a successful businessman, Trump has shown the public's desire for nonpolitical and more business-savvy skill sets for elected officials,” says Rich, who is a past president of the Georgia CCIM Chapter. “I was not a Trump supporter and I don't think the 'Trump Effect' is a major impetus, but I do believe that the attributes of commercial real estate professionals, especially CCIMs, serve the public very well in community leadership.”

ATLANTA—Atlanta-based Hotel Equities recently named Juanita Stallworth as the vice president of Human Resources for the firm with 100-plus hotels in 22 states nationwide. Stallworth's responsibilities include oversight of the Human Resources Department including labor law compliance, writing and administering policy, recruiting and staffing, performance management and employee relations. Stallworth joined Hotel Equities from the Atlanta office of Samsung Electronics where she served as a Manager of Human Resources for the past two years. She held the top HR position at Samsung, a Fortune 100 provider of electronics, and partnered with the firm's executive management to grow the business group through innovative human resources management.

DEAL TRACKER

ATLANTA—Cushman & Wakefield signed a 50,203-square-foot lease at 1180 Peachtree, a class A office building located in Atlanta's Midtown submarket. The company will consolidate its two offices to two-and-a-half floors at the building this summer. “Bringing our two offices together will enhance our creativity and collaboration, which will allow us to better serve our clients,” says John O'Neill, managing principal of CushWake's Atlanta office. Hines developed the 41-story building in 2006, which includes 670,000 square feet of class A office space and 27,431 square feet of retail space. 1180 Peachtree was the first high-rise office building in the world to be pre-certified LEED-CS Silver, and an acre of the site is devoted to public spaces, plazas and gardens.

MOBILE, AL—AdCare Health Systems announced it has executed a letter of intent with an affiliate of C.Ross Management to lease an assisted living facility it is acquiring in Alabama. C.Ross, AdCare's largest tenant, operates 21 facilities in Georgia and Alabama. The terms of the long-term lease agreement are expected to include a 13-year term with initial annual cash rent of $450,000 in the first year and a 2% annual rent escalator.

BUILDING BLOCKS

ATLANTA—Trammell Crow Company and its partner, Allstate, started construction on Phase II of King Mill Distribution Park. The project will feature a class A industrial warehouse building comprised of 760,256 square feet built on a speculative or build-to-suit basis. Construction is schedule to complete in the third quarter of 2017. “King Mill Distribution Park offers excellent product flexibility with an existing pad-ready site designed for logistics and corporate users,” says Mark Dishaw, principal in TCC's Atlanta Business Unit. “Due to its location, this area has proven to be one of the best logistical locations for bulk distribution facilities in the Southeastern US.”