ATLANTA-The multi-tenant office building high-tech provider plans to lay off about 240 employees or about 45% of of its total 536-worker staff nationwide by June. The move, aimed at all levels, is being made to conserve cash and reduce operating costs at all levels. But Cypress chairman/CEO Frank Blount says the firm plans to enter new markets and re-enter its licensed markets when it has saved enough cash to do so.
ATLANTA-The metro markets posted an overall occupancy rate of 91.65%, surpassing the 89.8% that Richard Bowers & Co. had predicted for all of 2000. Average class A, full-service rents of $21.45 per sf matched the researcher's earlier estimate of $21.50 per sf.
ATLANTA-Rosewood/PM Realty Advisors of Newport Beach, CA paid $97,368 per unit for the 152-unit asset in the Norcross, GA area, 20 miles northeast of Downtown.
ATLANTA-Forsyth County and the Trust for Public Land bought Sawnee Mountain and the 295 acres on which it stands from various landowners for $6 million or $20,339 per acre. The purchase was made to preserve the mountain in the face of rapid development in one of the fastest growing counties in the nation. The mountain is 35 miles north of Downtown.
ATLANTA-Forsyth County and the Trust for Public Land bought Sawnee Mountain and the 295 acres on which it stands from various landowners for $6 million or $20,339 per acre. The purchase was made to preserve the mountain in the face of rapid development in one of the fastest growing counties in the nation. The mountain is 35 miles north of Downtown.
MACON, GA- Georgia Power Co. owns the four-story, 63,000-sf structure and has set an asking price of $2 million to $2.5 million. The city must match the federally-funded DOT's funds with a minimum of $200,000. Macon is 85 miles southeast of Downtown Atlanta.
ATLANTA-The estimated $175-million deal for the three-building, 886,000-sf Atlanta Financial Center is expected to close by March. Overseas Partners Capital, the seller, bought the 97%-leased asset in 1996 for $123 million.
ATLANTA-The new entity plans to tap 20 national markets this year. Terms of the merger were not disclosed. The 16-person Apartment Group will remain based in Atlanta.
ATLANTA-Lawrence W. Hall, former president/COO at hsupply, is coming in as president/CEO. Peter Dunning is leaving to become CEO at Omnexus, another locally-based firm.