ATLANTA-ABM Property Corp. paid Mitsubishi Electronics America $6.1 million or $30.5 per sf for the seller's distribution center in the commercially-hot Interstate 85 corridor's northeast market. BellSouth occupies the property on a long-term lease.
ATLANTA-The newly-formed joint venture of BellSouth and Texas-based SBC Communications plans to lease about 300,000 sf in the 20-story, 414,200-sf tower, about 15 miles from Downtown, industry sources speculate. But no lease has been signed and none of the parties is talking.
ATLANTA-The auto maker signed a seven-year lease for 132,000 sf in Suwanee Creek's Building 300 and plans to move in by the end of the year. The lease's estimated value is $9.4 million. Seefried Properties is developing the building.
ATLANTA-The 1.3 million-sf Mall at Stonecrest is 70% pre-leased even though it is a year away from opening near Interstate 20, about 25 miles east of Downtown. Area rents average $18 per sf.
ATLANTA-The five-year-old, locally-based firm will provide Internet, voice and video services to Praedium Group's office properties in Houston, New York, Philadelphia and Washington, DC.
ATLANTA-The deal with affilates of J.P. Morgan Investment Management Inc. and General Motors Asset Management includes 17 properties in the metro area totaling 2.57 million sf and 58 acres of undeveloped land with a development potential of 800,000 sf.
MACON, GA-The 48,000-sf facility will be featured in the center of the arts and entertainment district of the revitalized Downtown. Ground-breaking is set for February 2001. The grand opening is scheduled for Martin Luther King Jr. Day in January 2003.
ATLANTA-The new faces are Chandler S. Spratlin, a former marketing vice president in Taylor & Mathis' office division; and Robert M. Tardy, previously director of leasing for Advantis Commercial Real Estate Services.
ATLANTA-The locally-based REIT is reining in development, getting out of some markets and selling off assets to self-fund further projects. The company expects a lower-than-expected funds from operations in the third and fourth quarters.
ATLANTA-Flushed with leasing success at its existing 1.9 million sf of office and industrial at the north Fulton County location, the Indianapolis, IN-based developer plans to break ground this month on Northmeadow Service Center Two, a one-story, 89,618 sf building.