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Hyatt House Atlanta/Cobb Galleria is LEED Certified

23 May 2014, 3:26 pm

By Balazs Szekely, Associate Editor

Hyatt House Atlanta/Cobb Galleria in Atlanta’s northwest corridor received LEED certification according to Noble Investment Group and Hyatt Hotels and Resorts.

Hyatt House is a Hyatt Hotels Corporation brand present in more than 50 U.S. locations. The 149 units the Atlanta facility offers consist of studios and suites with one- or two-bedroom layouts. The larger units include an extra living space, walk-in showers in the bathrooms and kitchens equipped with a full arsenal of appliances. The hotel features around 2,000 square feet of high-tech flexible meeting space, a 24-hour workout room, an indoor pool, two outdoor patios with fireplaces and grilling stations and a Hyatt branded non-stop grocery store. Located at the intersection of Interstate 75 and Interstate 285, the property is close to a number of major business destinations such as the Atlanta offices for IBM, Manhattan Associates, General Electric, SITA, Lockheed Martin and the global HQ for Home Depot. Cobb Galleria Centre, One Overton Park and Life University are in the area as well, with the Cobb Energy Performing Arts Centre also located within walking distance from the hotel.

The extended stay facility, opened just over a year ago, earned its LEED distinction due to an array of environmentally friendly features such as the all-around LED lighting system, low consumption HVAC units, motion-activated thermostats in all suites and highly efficient water fixtures. The landscaped outdoor space reduces overall environmental impact, which was also taken into consideration.

Photo credits: Hyatt Hotels Corporation

 



Pointe at Lenox Park Picked Up for Almost $25M

16 May 2014, 5:17 pm

By Balazs Szekely, Associate Editor

Pointe at Lenox Park, a 271-unit garden-style community in the Brookhaven submarket recently changed hands for $24.9 million. The previous local private owner sold the apartment homes to Cortland Partners.

Concentrating mainly on value-add acquisitions and development opportunities, Cortland Partners is an apartment owner and manager with a growing portfolio in the Southeast and Texas. The firm’s platform includes investment management, property management, and construction services and in the past few years  since the beginning of the recession its owned and managed residential portfolio has grown to around 19,000 units in the area.  

The company’s CEO, Steven DeFrancis is optimistic about the community’s strong performance in the future, especially considering the current state of the market.

“The city’s job growth and the restrained amount of new construction in the area are strong indications that the multifamily sector in Atlanta will continue to strengthen in the months and years ahead,” he says.

Located at 1900 North Druid Hills Road, the rental complex was built in 1988. The community features one- and two-bedroom apartment homes. Tenants can choose from 602- or 800 square-foot one-bedroom floor plans and the two-bedroom units measure 1000 square feet and come with an extra bathroom. Common-area amenities include a business center, a clubhouse and a fitness facility. Apartments are equipped with wood-burning fireplaces, intrusion alarms, wood flooring, granite countertops and include large closets as well as private balconies. The new owner intends to perform a general renovation on all units and update some of the community features as well.

Photo credits: Pointe at Lenox Park



Atlantic Station Gets More EV Charging Units

9 May 2014, 9:54 pm

By Balazs Szekely, Associate Editor

Electric car driving tenants, employees and visitors of the Atlantic Station mixed-use community in Atlanta can breath a sigh of relief knowing they will never again have to leave the complex with a dying battery.  According to a recent announcement, four new Level 2 electric-vehicle charging units have been put in operation in the underground parking garage on P1, near the valet station.

Inaugurated in in 2005, Atlantic Station is a sustainable mixed-use development built on Atlantic Steel Company’s abandoned mill site that today is a thriving district in Atlanta’s Midtown neighborhood. Anchor tenants of the community include employers such as Wells Fargo, Ogilvy & Mather and BB&T, retailers like H&M and Dillard’s along with a number of popular restaurants.

CBRE Global Investors, the owner of the property, had previously started investing in a stable infrastructure of car chargers at Atlantic Station.  The development has a street-level charging station on 17th Street near the Millennium Gate offering four Level 2 units and one DC fast-charger unit. That one is partially powered by overhead solar panels and is available at no cost to the public. The new chargers, partially funded by Nissan, offer a charging rate that gives a car around 25 miles of driving range over a one-hour charging interval and cost of 85 cents per hour for the public.

John Gilb, principal at CBRE Global Investors is proud that the community is moving toward more environmentally friendly transportation and believes that Atlantic Station is setting an example.

“Our EV charging stations are convenient not only for our visitors, but to the Midtown community as a whole,” he says.

Photo credits: ChargePoint



International Tech Group Subsidiary Consolidates Operations at 5405 Windward Parkway

25 Apr 2014, 5:42 pm

By Balazs Szekely, Associate Editor

Andritz Inc., a U.S. subsidiary of the Andritz Group, is moving to 5405 Windward Parkway. The company recently signed a long-term lease for 40,000 square feet. To  landlord Highwoods Properties Inc.’s relief the building has reached almost complete occupancy.

Headquartered in Graz, Austria, Andritz Group is a globally leading supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, the metalworking and steel industries, and solid/liquid separation in the municipal and industrial sectors. The publicly listed group has a staff of around 23,700 employees and operates over 250 production sites as well as service and sales companies all around the world. It ranks among the global market leaders in all four of its business areas.

Ed Fritsch, President and CEO of Highwoods is grateful for Andritz’s choice and also expressed his pride in the company’s local agents.

“We thank Andritz for choosing Highwoods and we applaud our Atlanta team for their rapid success in backfilling this building with two high-quality customers who are new to Highwoods,” he says.

Built in 1997, the 240,000 square-foot building boasts prime Alpharetta location in Metro Atlanta’s North Fulton submarket with easy access to the interchange of GA 400 and Windward Parkway. The property’s lineup of amenities includes a number of green features such as bike storage, easy access to public transit, high efficiency lighting fixtures, low water irrigation system and a clever energy management system.  With this transaction, the company has relet 97 percent of the 223,000 square feet vacated in last October.

Photo credits: Highwoods Properties 



Berkley Specialty Underwriting Managers Consolidates Operations at Ravinia

18 Apr 2014, 4:28 pm

By Balazs Szekely, Associate Editor

Berkley Specialty Underwriting Managers has recently signed a long-term office space lease in Atlanta’s Central Perimeter submarket at Two Ravinia Drive. The property is part of the 42-acre Ravinia complex which consists of three Class A towers and a 500-room Crowne Plaza Hotel.

Berkley Specialty Underwriting Managers is a specialty underwriting organization, a subsidiary of Fortune 500 financial services company W. R. Berkley Corp. The company provides a portfolio of commercial property casualty insurance products to the entertainment, sports and environmental industries. It offers proprietary coverage for these specialty industries, along with automobile liability, workers’ compensation and claim services.

Cassidy Turley brokered the lease of the 23,025 square feet of office space in the 17-story tower located at the Northeast Corner of Ashford-Dunwoody Road and Interstate 285, with Dale Lewis of Cassidy Turley’s Atlanta office representing the tenant in the lease transaction. Jeff Bellamy and Amanda Smith of Jones Lange LaSalle spoke for the property owner, Parkway Properties.

The tenant already occupies 7,184 square feet at Two Ravinia and also operates on 16,403 square feet at Three Ravinia. Additionally, in compliance with the new contract the company will expand to the entire 11th floor of the former and the lease also gives Berkley Specialty the right of first refusal to expand into 7,000 square feet on the 10th floor adjacent to another W. R. Berkley entity, Vela Insurance Company. The lease commences December 1, 2014.

Photo credits: Parkway Properties







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