Category: Retail

With Parcel Sale Complete, Leasing Efforts for Porter on Peachtree Pick Up Steam

Jun16
2020
Posted by
Marketing Staff

When Ackerman & Co.’s John Speros brokered the third-party sale of a prime 4.6-acre parcel on Peachtree Road in the city of Brookhaven, it didn’t mark the end of Ackerman’s involvement in the property.

Ackerman Retail Senior Vice President Kelly Wilson has been selected to lease up the retail portion of the mixed-use Porter on Peachtree project now taking shape on the site. Located at 920 Peachtree Road just north of Buckhead, the city of Atlanta’s premier shopping district, the project will feature approximately 291 apartments and approximately 17,600 square feet of ground-level retail.

Kelly is leasing the space on behalf of the parcel’s former owner, SDS Real Property Holdings. As part of the original sale, SDS will buy the retail portion of the project from new owner Wood Partners upon completion of construction.

Kelly said there is a great deal of interest among a variety of retailers for the space.

What makes Porter on Peachtree such a desirable retail location?

“This area has great demographics, is a highly sought-after retail node and has very little vacancy,” said Kelly. “It’s very difficult to find retail space with frontage along Peachtree anywhere from North Buckhead, through Brookhaven and heading into Chamblee.”

The tenant lineup at Porter on Peachtree will include up to two restaurants, with a retail mix likely to feature service-oriented retailers, boutiques and possibly a coffee shop, Kelly said.

Porter on Peachtree is in the Buckhead/Lenox submarket of Atlanta, which commands the highest rental rates in the metro area. The submarket has a total inventory of 12.5 million square feet and boasts Atlanta’s most prestigious shopping destinations, including Lenox Square, Phipps Plaza and the The Shops Buckhead Atlanta.

The impressive demographics of the project’s Brookhaven address include an average household income of more than $130,000 and a population within three miles of more than 133,000. The Capital City Country Club is located behind the property, and the Brookhaven MARTA station is only 1,000 feet away.

John Speros along with David Branch of SSG Realty Partners brokered the sale of the parcel for $15.8 million. “Because the seller is purchasing the retail portion of the development at completion, this was a very complex transaction that was years in the making,” John noted at the time of the sale.

Construction is under way and completion is targeted for late 2021.

New Renderings Showcase the Next Phase of Development at Lee + White

May22
2020
Posted by
Marketing Staff

The transformation of Lee + White is entering an exciting new phase.

Renderings have just been unveiled showing what’s next for the adaptive reuse development just southwest of downtown Atlanta in the West End neighborhood. The next phase of development will add striking design features to existing buildings and produce a new two-story glace-façade building that will become a new centerpiece for the West End.

The renderings are a vivid representation of the diversification of the project Ackerman & Co. and MDH Partners envisioned when purchasing the popular entertainment and food & beverage destination last fall. The upcoming redevelopment will add creative loft offices, a food hall, public spaces, additional retail options and multifamily units, all featuring direct and enhanced Atlanta BeltLine access.

“This new phase of development will add a dynamic mix of uses that will heighten much needed daytime activity and strengthen the already popular night and weekend visits, while greatly improving the walkability and overall visitor experience through the 23-acre site,” said Leo Wiener, President of Ackerman Retail.

Amid the current coronavirus pandemic, businesses at Lee + White are re-opening with the health and safety of their customers and community in mind.

“We are in the unique position of being able to adapt the design of Lee + White’s further redevelopment to newly evolving social distancing and operational guidelines. We plan to take advantage of the existing warehouse volumes, high ceilings and wide-open floor spaces along with direct connectivity to many outdoor spaces, including patios, greenspaces and the Atlanta BeltLine,” said Jeff Small, CEO of MDH Partners.

Atlanta-based Smith Dalia Architects is the creator of the new master plans. Further capitalizing on the project’s half mile of frontage along the Westside BeltLine, the master plans propose new and enhanced access to the BeltLine, a variety of public spaces overlooking the trail and a path connecting the project’s numerous outdoor spaces.

Here’s what’s on tap for the next phase of development:

  • The new centerpiece of the development – Building 1015, a two-story glass-façade structure opening directly to the Atlanta BeltLine with terraces overlooking the busy pedestrian trail. The building will house a 17,000-square-foot food and retail collective on the first floor and 18,000 square feet of loft offices on the second floor. The second-story loft offices will be notable for the distinctive entry, marquis signage, 12-foot ceilings and floor-to-ceiling glass curtain wall.
  • Building 1050, an adaptive re-development of industrial warehouse space into 42,121 square feet of creative loft offices with 18-foot ceilings, abundant natural light and a large terrace overlooking the BeltLine.
  • Building 929, an adaptive re-development of industrial warehouse space into 85,000 square feet of creative loft offices offering frontage on Lee Street, dramatic entry features and common areas, and views overlooking the BeltLine along with new access to the trail. Unique design elements will include exposed-beam roofing, floor-to-ceiling windows and skylight-lit double-height interiors.
  • Approximately 30,000 square feet of ground-level retail space distributed throughout the property.
  • Up to 250 multifamily units with walk-out access to Lawton Street and the BeltLine.
  • A terraced outdoor multi-use area – similar to a mini-amphitheater – stepping down directly to the BeltLine.
  • A vertical Lee + White sign at the property’s front corner providing distinctive branding that honors the property’s history.

Construction is expected to begin in the third quarter of 2020, with delivery of the first phase of office space in mid-2021. The opening of the new ground-up food and retail collective building is targeted for late 2021.

Ackerman & Co. and MDH Partners acquired the 11-building, 433,204-square-foot Lee + White property in September 2019 from Stream Realty Partners. The initial phase of the redevelopment of the mid-20th century industrial buildings included the addition of tenants such as Monday Night Brewing, Wild Heaven Beer, Best End Brewing, ASW Distillery and Hop City Craft Beer & Wine, each of which has developed a unique following and enjoyed tremendous success.

Mar20
2020
Posted by
Marketing Staff

As Ackerman & Co. steadily strengthens its services platform and adds talent to its brokerage group, the firm continues to solidify its position as a leading commercial real estate firm in the Southeast.

One way to measure a firm’s success is by the number of its brokers who are named to the Atlanta Commercial Board of Realtors (ACBR) Million Dollar Club. A total of 11 Ackerman brokers were named to the Million Dollar Club at the recent 2020 ACBR awards.

“This is the most brokers we’ve ever had named to the Million Dollar Club,” said Kris Miller. “Our brokerage team is producing great results for our clients and we’ll continue building our team and the quality of our services to keep those results coming.”

The Ackerman brokers added to the 2020 Million Dollar Club include Courtney Brumbelow, Brett Buckner, Bryan Davis, Brian Lefkoff, Chris Miller, Kris Redding, Sean Patrick, John Speros, Jimmy Stevens, Kelly Wilson and Larry Wood.

Three of Ackerman’s 2020 Million Dollar Club members took home Top 10 Broker honors – Brian Lefkoff (the No. 5 Retail Broker), Courtney Brumbelow (the No. 8 Retail Broker) and John Speros (the No. 5 Land Broker).

As leader of Ackerman Retail’s Tenant Representation Group, Brian’s major deals included a 30,000-square-foot lease on behalf of Painted Tree Marketplace in Buford, Ga., which marked the retailer’s first store in Georgia, while Courtney completed nearly 100 real estate transactions as the head of the Landlord Representation Group.

A long-time high producer for Ackerman as Senior Vice President of the Land Group, John’s biggest transaction was the $18 million, 65-acre land sale for the Exchange at Gwinnett mixed-use project, which he brokered with Senior Vice President Larry Wood. The project, also named one of the three finalists for ACBR’s 2020 Alvin B. Cates Award, will feature Top Golf, Andretti Indoor Karting & Games, Rooms To Go and more.

The Million Dollar Club recognizes brokers with production of $5 million or more in annual commercial transactions.

Feb28
2020
Posted by
Marketing Staff

2020 South Metro Development Outlook: South Atlanta Is Ready for Its Closeup

Don’t sleep on South Metro Atlanta.

That was the message from speakers at the 2020 South Metro Development Outlook conference recently held at the Georgia International Convention Center. The conference, now in its 18th year, gathers commercial real estate professionals, business leaders and elected officials to discuss the latest economic development trends in the region.

South Metro communities have tended to lag behind Atlanta’s bustling submarkets to the north like Midtown, Buckhead, Central Perimeter, Alpharetta and Cumberland-Galleria, which have become some of the most prominent business hubs in the Southeast. But the South Metro – a six-county area south of I-20 – is increasingly attracting the interest of investors, including regional, national and international players.

Ackerman & Co. is one of those investors bullish on South Metro. The company, with partner MDH Partners, purchased the 423,000-square-foot Lee + White project in the West End area just south of I-20 and is currently diversifying the popular entertainment and food & beverage destination to include loft offices, retail and a food hall.

Ackerman & Co. Reports on 2020 South Atlanta Development Outlook conference

In addition to Lee + White, Ackerman is involved in the $1-billion Airport City project in College Park as the exclusive land broker marketing the 320-acre property adjacent to the airport for a mix of office, hotel, retail, entertainment, residential and other uses.

“The time is right for this type of mixed-use development in South Atlanta. This area has traditionally been underserved by retail in particular, but the opportunity to serve the local community as well as the millions of Hartsfield-Jackson passengers who visit annually makes it ideal for the local, national and international end users we’re seeking to attract,” said Steve Langford, Ackerman & Co. Senior Vice President and land broker for Airport City.

Investing in Future Growth
The South Metro region is home to the biggest economic driver in the state – Hartsfield-Jackson International Airport, which serves 100 million passengers a year, employs 63,000 on-site workers and generates a $34.8-billion annual economic impact.

Ackerman & Co. Reports on 2020 South Atlanta Development Outlook conference

Speakers pointed to a number of trends and developments that position the region to attract economic development while leveraging its strategic location at the gateway to the world’s busiest airport.

South Atlanta is the largest industrial submarket in metro Atlanta, with a total of 196 million square feet of warehouse and manufacturing space. It is also home to global headquarters such as Delta International and Chick-fil-A. More recently, South Metro attracted the relocation of Porsche Cars North America headquarters from Sandy Springs, a $100-million project that includes the Experience Center race track.

The region is preparing for much more success. Aerotropolis Atlanta, a public-private partnership representing 13 South Atlanta communities, aims to create the region’s next premier business district. Aerotropolis is working with other agencies on a variety of infrastructure improvements, including a $13-million diverging diamond interchange at Camp Creek Parkway and I-285 designed to improve traffic flows around the Airport.

“We don’t want to duplicate the traffic congestion of other parts of the metro,” said Gerald McDowell, executive director of the Aerotropolis Atlanta CID.

Another project being proposed is a “pod car” network that would provide speedy connections to Airport terminals and nearby destinations such as the Porsche and Delta headquarters via dedicated cars holding up to eight passengers. This project would cost roughly $15 million per mile, McDowell said, which is far less than other public transportation initiatives.

“We have been denied transportation solutions because we’ve been told it’s not affordable,” he said. “This is affordable, and we believe this is a solution that could provide an example of how to expand throughout the region.”

Adding Amenities to Attract Talent & Businesses
The film industry has a growing presence in the South Metro region, and it’s generating some exciting spin-off development. Pinewood Forest, a 235-acre mega project near Pinewood Atlanta Studios, will ultimately feature 700 homes, 600 apartments, 300 hotel rooms, and 270,000 square feet of commercial space with restaurants, retail and a 9-screen theater featuring a rooftop cinema.

“This type of development is setting the stage for attracting talent, and the companies that employ them will follow,” said Joan Young, president of the Fayette County Development Authority.

Christopher Pike, economic development director for the City of South Fulton, discussed two major projects planned in the newly formed city, including a town center mixed-use development and a 200-acre riverfront district.

“These are quality of life projects that will bring a different flavor to South Fulton,” Pike said.

In addition to new amenities that will help the South Metro better compete with northern communities, the region has another major selling point – its lower development costs.

Shannon James, president and CEO of the Aerotropolis Atlanta Alliance, said the relatively low cost of land – which includes 50,000 acres of undeveloped land around Hartsfield-Jackson – impressed his colleagues from Beijing, China’s, Aerotropolis.

“They salivated over the opportunities here compared to the cost in their neck of the woods,” he said

Feb11
2020
Posted by
Marketing Staff

Since joining the Ackerman Retail team in 2017, one of the primary goals of executive vice president Brian Lefkoff has been to create a first-class tenant representation platform and growing portfolio of national, regional and local tenants. As the leader of Ackerman Retail’s Tenant Representation group, he has exceeded the company’s goals, adding many prominent clients to the portfolio and building a well-recognized platform.

This expansion of Ackerman Retail’s tenant representation roster has yielded several major lease signings for Brian in the past year. It also led to Brian’s recent selection as Ackerman’s Broker of the Month for December.

Brian’s major lease signings include a 30,000-square-foot transaction on behalf of Goodwill of North Georgia at Northridge shopping center in Sandy Springs, Ga. The new retail location for Goodwill is expected to open soon.

Ackerman Retail is Goodwill’s exclusive representative in North Georgia for the retailer’s store and career center expansion across a region that includes more than 60 stores in 45 counties.

Brian also recently represented Painted Tree Marketplace in a 30,000-square-foot lease in Buford, Ga. This marks Painted Tree’s first store in Georgia, which is now open at Marketplace at Millcreek, where it joins national retailers such as Burlington, Costco, DSW, Marshalls and Ross.

Painted Tree selected Ackerman Retail as its exclusive representative for its expansion in Atlanta and across the Southeast U.S.

To learn more about Brian and the Retail team, visit Ackerman Retail.

Jan2
2020
Posted by
Marketing Staff

Brokers are vital to the success of every full-service real estate company, and Ackerman & Co. is fortunate to have a talented, diverse team ranging from young associate brokers to veterans with 40-plus years of experience.

At the close of every year, Ackerman & Co. recognizes brokers on both ends of that spectrum with its Broker Awards.

We’re excited to announce that John Speros is the recipient of our Broker of the Year Award and Kris Redding is our Young Broker of the Year.

Another Stand-Out Year for Veteran Broker

One of Ackerman’s most experienced and high-producing brokers, John Speros has been with the firm since 2009. He has expertise in virtually every type of commercial real estate transaction, from the sale of land parcels for single-family, multifamily and mixed-use developments to the disposition of portfolios and the acquisition of sites for commercial and residential development. His current focus is the representation of owners in land sales as leader of the Ackerman/Pioneer Land Group with Kyle Gable.

This past year has been one of John’s most productive, which is saying a lot for someone who has received multiple high-profile Atlanta market awards throughout his career – including recognition as the second-highest producing commercial land broker in 2010 and receiving the Alvin B. Cates Award for the most significant commercial real estate transaction in 2003 and 2007.

In 2019, John completed land transactions totaling nearly $75 million. Some of his biggest transactions include the $7.3-million sale of 35 acres in Gwinnett County that will become the site of the 330-unit Alta Sugarloaf multifamily complex and the $8.9-million sale of 152 acres in New Smyrna Beach, Fla., that will be used to expand a public park.

“We’re very fortunate to have someone with John’s experience and ability. He has been a key member of our team for years, and it’s great to see him have another hugely successful year,” said Kris Miller.

What stands out most about John to Kyle Gable is his combination of commercial real estate expertise and his willingness to serve as a mentor to younger brokers.

“I think there are two main qualities that make John so good in the land business. The first is his overall knowledge of all the different types of land transactions – he brings an array of knowledge to the table that most brokers just don’t have,” Gable said. “Second is his ability to get a deal closed. John understands the complexity of real estate and how to get the deal across the goal line.”

Kyle himself has benefited from John’s generosity in sharing his expertise. “When I was a 26-year-old with limited land experience, John took me under his wing and showed me how to work on land transactions and ultimately get them closed. In working with him over the past 10 years, I have seen him spend time with many young brokers teaching them about real estate,” he said.

Young Broker Hitting His Stride

A former NFL and Canadian Football League player, Kris Redding began his real estate career during the 2015 off season and now represents clients in both lease and sales transactions. Since joining Ackerman in 2017, he has demonstrated an ability to grow client relationships and become a valued partner in helping them achieve their business goals.

“It’s an honor to receive this award.” said Redding. “Ackerman’s prestige, tenured relationships within the industry, prolific resources and internal support system have provided me with a platform that has galvanized my ability to be productive in our business.” This productivity earned him a place in the NAIOP Million Dollar Club for completing more than $4 million in office leases in 2018.

Kris’s major deals in 2019 include representing Academy Orthopedics in the $5.26 million sale of its North Atlanta medical office portfolio. He also completed three lease transactions concurrently at Phoenix Business Campus with Worker’s United Southern Region, Primerica and Good Ground Development Center in five-year leases totaling 18,314 square feet.

“Kris brings the same hard-working and tenacious work ethic to real estate brokerage as he did to football. We look forward to seeing him continue his growth in commercial real estate as an important part of our brokerage team,” said Miller.

Read more about our brokerage group here: https://www.ackermanco.com/real-estate-services/overview/

Sep26
2019
Posted by
Marketing Staff

Lee + White has become a hip entertainment and nightlife hub in the West End neighborhood of Atlanta, offering breweries, restaurants, food manufacturers and unique retailers.

In purchasing the property with MDH Partners, Ackerman & Co. plans to expand the project’s appeal by diversifying development to include a food hall, loft offices and additional retail.

Initially constructed as industrial buildings in the 1950s and 1960s, the property was recently redeveloped by prior owner Stream Realty Partners. “We’ll be investing significant capital to continue the development of this site,” noted Ackerman & Co. Brokerage President Keene Miller.

Tenants are united by their strong attachment to the West End community and their pride in being a part of a pioneering intown Atlanta development.

Ackerman & Co. is equally committed to becoming a part of the community and plans to hold public hearings to get input on its development plans.

While Lee + White has some similarities to other notable adaptive reuse projects in Atlanta, Ackerman Retail President Leo Wiener pointed out some key differences in an interview with Bisnow.

“This is not Ponce City [Market]. We’re not going after corporate,” he said. “We just think it’s a little more edgy and gritty with the feel. We want to stay true to the neighborhood.” Like Ponce City Market, Lee + White benefits from its location steps away from the Atlanta BeltLine.

Current tenants include Monday Night Brewing, Wild Heaven Beer, Best End Brewing Co., ASW Whiskey Exchange, Hop City Craft Beer & Wine, Plywood People, Honeysuckle Gelato, Cultured South Fermentation Co., Doux South Pickles, Boxcar restaurant, Overlook Boulder + Fitness, MacStadium, and United Way of Greater Atlanta.

“Lee + White is an exciting investment for us,” said Ackerman President Kris Miller. “Stream showed vision in transforming these properties into a popular entertainment and food and beverage destination. There’s an excellent value-add opportunity for us to diversify with additional development.”

Leo Wiener and Retail Senior Vice President Kelly Wilson will lead the restaurant and retail leasing efforts at the property. Porter Henritze and Sonia Winfield, directors at Cushman & Wakefield, will represent ownership in office leasing.

We’ll be providing updates on the development plans, so be sure to visit our blog and the Lee + White Instagram page for the latest!

Aug20
2019
Posted by
Marketing Staff

Slutty Vegan has come a long way in a short time.

Owner Pinky Cole started selling her plant-based burgers from a food truck in August 2018.

Since then, she has opened her first brick & mortar location in the West End neighborhood of Atlanta and signed leases for her second and third Atlanta restaurants.

Bryan Davis, senior vice president of retail services for Ackerman Retail, represented Pinky Cole in the long-term lease for the third Slutty Vegan restaurant, which will be located at 482 Edgewood Avenue just east of downtown Atlanta in the rapidly developing Edgewood Avenue retail district. Bryan will continue representing Pinky Cole in her restaurant expansion.

Her business has been a huge success, as demonstrated by the long lines of customers that regularly form outside the restaurant and food truck. The City of Atlanta even recently issued a proclamation commemorating Slutty Vegan’s success.

Generating buzz on social media has been key to the growth of the Slutty Vegan brand. Cole’s Instagram page, which now boasts more than 250,000 followers, showcases videos of celebrities such as Tyler Perry, Snoop Dog, Usher and Jermaine Dupri enjoying burgers with names like One Night Stand, Fussy Hussy (shown above) and Dancehall Queen.

Slutty Vegan also actively promotes the vegan lifestyle. The food truck is covered with a variety of pro-vegan slogans: “Vegan and Proud,” Save the World, Save the Animals,” “Vegan for the Culture” and more.

Want to read more about the Slutty Vegan success story? Check out these articles in national news outlets The New York Times, Forbes and CNN and local coverage in Atlanta Magazine.

Aug9
2019
Posted by
Marketing Staff

This year’s Deloitte’s Commercial Real Estate Outlook Report focuses on how technology and changing tenant and investor expectations are ramping up competition and creating shifts in how products are sold or leased.

With these shifts, what can CRE Companies do to stay competitive and ensure they capture the rapidly growing demand?

Out-of-the-Box Properties and Business Plans – The report states that this year investors plan to increase their focus on mixed-use properties, nontraditional products and retail developments. Flexible leases and business spaces are also going to be an attractive investment.

Adaptability – Investors will be looking for the companies that can quickly respond to the rapidly changing waters of the CRE business world, whether it be with new business models or by adopting “a variety of technologies to make buildings future-ready.”

Tech-savvy presence – To attract potential investors, companies need to be able to stay shoulder to shoulder with technology and present technological agility in the way they market their properties and in their business plans.

Catering to investor and tenant needs should move CRE companies to have a different perspective on the way they do business. By increasing mixed-use, nontraditional and retail products in their portfolios, becoming more adaptable to the changes in the industry and using technological advancements in their favor, CRE companies can change with the industry and be ready for the future to come.

Help is Here – Meet Our Summer Interns!

Jun14
2019
Posted by
Marketing Staff

As summer arrives, so does a new group of interns at Ackerman!

We recently sat down with our interns to discuss how they plan on applying their newly gained experience in the future.

“I’m very excited to be here,” said Emma Lonergan, who is working in the Marketing & Communications department. She is an incoming junior at Georgia College and State University. “I’m learning so much I can apply to my college classes and later in my career.”

Projects she’s working on with Fara Wilson and the marketing team include updating the organization of the promotional items inventory, which she will track and monitor throughout the summer. She’s also working on editorial assignments, including blog writing.

Also joining Ackerman’s Marketing team for the summer is Ellis Snell, who will be assisting in the department’s day-to-day activities and select projects. Ellis is headed to the Savannah College of Art and Design (SCAD) as a freshman this fall.

Harrison Bernhardt, an intern with the Brokerage team, tells us he looks forward to applying everything he learns this summer to his future dream job in commercial real estate. An incoming senior at the University of Georgia, he’s learning a lot from the brokers he’s working with, including how to knock on doors to canvas potential clients.

“I realized that real estate was a better fit for me than finance, my original major in college, because I enjoy working in the field and meeting people face-to-face,” he said.

Also spending the summer interning for the Brokerage group are Bart Kauffman (an incoming senior at Furman University) and Connor Barry (an incoming sophomore at the University of Southern California).

All three Brokerage interns are gaining valuable experience learning commercial real estate research programs as they help our brokers in their ongoing lease and sales efforts. That includes using CoStar, LandVision and other research tools to summarize market trends, prepare lease comparables and access various details on individual properties and owners.

Bart, Connor and Harrison are also getting a first-hand look at the types of projects Ackerman develops. They recently attended a BBQ event and tour at Rockdale Technology Center, the firm’s newest Class A industrial park. Connor and Harrison were responsible for transporting our brokerage guests across the park, and they assisted the Marketing team in setting up and closing down the event.

Alex Barnes (not pictured), an incoming junior at Georgia College and State University, is one of the interns supporting the HR department this summer.

He recently attended the company’s open enrollment benefits session, where he learned about the different healthcare and benefit options available to employees.

“This was incredibly eye-opening,” Alex said. “I was unaware of all the complexities involved in selecting healthcare coverage and the wide-ranging costs.” He’ll be able to call on this knowledge when he enters the workforce and goes through the process of selecting his own insurance.

It’s great to have these bright-eyed and bushy-tailed interns on board with us this summer. We have every confidence they’ll succeed in their future careers!