ATLANTA | Development Thread VI - Page 445

BlueSangha · #**8881** Posted **Jul 12, 2018, 3:46 PM**

There are plenty of other racists out there. I’m sure if he was looking for work, they’d snatch him up.

Sura · #**8882** Posted **Jul 12, 2018, 4:04 PM**

Quote:

Originally Posted by montydawg

In related news, Papa John CEO and founder John Schnatter resigns after using a racial slur on a conference call. If I were applying for a job, I certainly would not be posting this stuff online.

I'm more offended that ATL3k isn't buying American tp.

Atlanta3000 · #**8883** Posted **Jul 12, 2018, 4:06 PM**

Quote:

Originally Posted by Sura

I'm more offended that ATL3k isn't buying American tp.

I would - but it all comes from China!

Dale · #**8884** Posted **Jul 12, 2018, 4:19 PM**

Quote:

Originally Posted by Triptychtwo

Lots of good quotes in this Bisnow article.

On 8th & West Peachtree

On 1105 West Peachtree/1125 Peachtree

On Midtown Union

Just my two cents, but none of these quotes register as good news.

jpk1292000 · #**8885** Posted **Jul 12, 2018, 4:35 PM**

Quote:

Originally Posted by Atlanta3000

I would - but it all comes from China!

You sure about that?

Atlanta3000 · #**8886** Posted **Jul 12, 2018, 4:42 PM**

Quote:

Originally Posted by jpk1292000

You sure about that?

http://gawker.com/5522711/chinas-dir...s-toilet-paper

Quote:

Think again, naïve American, because China will soon have control of your ass, or at least what you wipe it with. Get ready for a lifetime of pain and suffering in the bathroom.

Ant131531 · #**8887** Posted **Jul 12, 2018, 5:38 PM**

Quote:

Originally Posted by Dale

Just my two cents, but none of these quotes register as good news.

All this talk on how Midtown office vacancies are at historic lows, yet none of these office projects seem to be in any rush to break ground. I'm afraid a recession is right on our doorsteps and that will be it for any talks of these breaking grounds for years.

cabasse · #**8888** Posted **Jul 12, 2018, 5:51 PM**

Quote:

Originally Posted by Ant131531

All this talk on how Midtown office vacancies are at historic lows, yet none of these office projects seem to be in any rush to break ground. I'm afraid a recession is right on our doorsteps and that will be it for any talks of these breaking grounds for years.

if this trade war doesn't get tempered (among other things) i wouldn't be surprised.

Atlanta3000 · #**8889** Posted **Jul 12, 2018, 6:01 PM**

Quote:

Originally Posted by Ant131531

All this talk on how Midtown office vacancies are at historic lows, yet none of these office projects seem to be in any rush to break ground. I'm afraid a recession is right on our doorsteps and that will be it for any talks of these breaking grounds for years.

Chin up Ant -

1125 Peachtree
Jones Day is rumored to be taking the office space so this should happen.

8th @ West Peachtree
AIG which is leasing offices at a Cousin Properties building in the Perimeter lease is up next year and wants to move to Midtown. This is what is driving this development. Cousin's also has the ability to self fund so this project should happen.

14th and Spring
Greenstone already has funding in place to start the project on spec and Crescent Communities is ready to start the Novel apartment project.

Midtown Union
As I mentioned before, Metlife already has a company committed to floors 18 - 25. Metlife has very deep pockets and can self fund.

Atlantic Yards
Hines and their funding partner Invesco are ready to start this fall without pre-leases.

The biggest news in the Bisnow article: there is 4 Million sqft of pipeline looking for office space in Midtown. This is massive and the most I have ever heard in my 14 years living in Atlanta. Most importantly, Midtown has less than 10% vacancies and this will only shrink because none of these projects will deliver for 2.5 years. Midtown needs spec development ASAP so Midtown doesn't lose out on economic developments in the future because most companies don't want to wait 2 - 3 years to get an office up and running.

jpk1292000 · #**8890** Posted **Jul 12, 2018, 6:53 PM**

Quote:

Originally Posted by Atlanta3000

Chin up Ant -

1125 Peachtree
Jones Day is rumored to be taking the office space so this should happen.

8th @ West Peachtree
AIG which is leasing offices at a Cousin Properties building in the Perimeter lease is up next year and wants to move to Midtown. This is what is driving this development. Cousin's also has the ability to self fund so this project should happen.

14th and Spring
Greenstone already has funding in place to start the project on spec and Crescent Communities is ready to start the Novel apartment project.

Midtown Union
As I mentioned before, Metlife already has a company committed to floors 18 - 25. Metlife has very deep pockets and can self fund.

Atlantic Yards
Hines and their funding partner Invesco are ready to start this fall without pre-leases.

The biggest news in the Bisnow article: there is 4 Million sqft of pipeline looking for office space in Midtown. This is massive and the most I have ever heard in my 14 years living in Atlanta. Most importantly, Midtown has less than 10% vacancies and this will only shrink because none of these projects will deliver for 2.5 years. Midtown needs spec development ASAP so Midtown doesn't lose out on economic developments in the future because most companies don't want to wait 2 - 3 years to get an office up and running.

And then there's your 11/10 announcement coming within 60 days.

Street Advocate · #**8891** Posted **Jul 12, 2018, 10:24 PM**

They put the fence back up at Hanover west Peachtree...

Verge · #**8892** Posted **Jul 12, 2018, 11:28 PM**

Quote:

Originally Posted by Street Advocate

They put the fence back up at Hanover west Peachtree...

New completion date: 2034...

sbrptree · #**8893** Posted **Jul 13, 2018, 1:46 AM**

Quote:

Originally Posted by Verge

New completion date: 2034...

skyscraperpage17 · #**8894** Posted **Jul 13, 2018, 2:33 AM**

Quote:

Originally Posted by Ant131531

All this talk on how Midtown office vacancies are at historic lows, yet none of these office projects seem to be in any rush to break ground. I'm afraid a recession is right on our doorsteps and that will be it for any talks of these breaking grounds for years.

It's kind of an awkward time right now for projects breaking ground in general (whether it's retail, office or residential developments), despite the otherwise decent economy.

There's also:

*Rapidly rising interest rates, after several years of them sitting at record lows (which is making the cost of financing more expensive).

*Material costs at historic highs (this is only being worsened by Trump's recent hard line on trade).

*A historically tight labor market for construction workers (this is only being worsened by Trump's recent hard line on illegal immigration).

Developers and the banks are risk-averse by their nature, especially after being so badly burned during the Great Recession, and not many of them are willing to take the risk and build/finance property just for the sake of building/financing property without having tenants lined up.

IMO, a lot of people also got ahead of themselves as far as projects they proposed and investment plans when Trump was elected and boasted about his massive tax cuts (which he accomplished), yet they didn't actually expect him to follow through on his trade/immigration promises. So it will be interesting to see if all of these proposals/investment plans actually come to fruition.

skyscraperpage17 · #**8895** Posted **Jul 13, 2018, 2:54 AM**

Quote:

Originally Posted by Atlanta3000

Mark my words - you will need to buy stock in Costco in T minus 60 days and counting...that's all I can say.

My guesses:

1. Google will officially announce they selected Atlanta for their 5,000 employee operations center.

2. You got word that Atlanta will be on Amazon's final short list.

3. Amazon or Microsoft have found a site for their data center in/around Atlanta and will commence groundbreaking.

4. The names of the 2 corporate tenants at Aerotropolis will be revealed.

RocketSurgeon · #**8896** Posted **Jul 13, 2018, 3:05 AM**

Quote:

Originally Posted by BlueSangha

Sounds to me like neither of those projects are launching anytime soon.

It sounds like they're far from guaranteed. I'm still not convinced Midtown is ready to absorb that much spec office space, especially with CODA and T3 coming, the current vacancies in the BOA tower, and the coming vacancies in the AT&T tower. I'm honestly a little surprised that CODA got off the ground, but then again that was with GT's backing. I'd bet money one of those two office developments doesn't happen for a few years. I don't think the market is too far from supporting that kind of supply but it doesn't feel like it's there yet. The suburbs basically have a monopoly on major spec office development right now, especially Cumberland.

West Peachtree · #**8897** Posted **Jul 13, 2018, 1:35 PM**

Quote:

Originally Posted by RocketSurgeon

It sounds like they're far from guaranteed. I'm still not convinced Midtown is ready to absorb that much spec office space, especially with CODA and T3 coming, the current vacancies in the BOA tower, and the coming vacancies in the AT&T tower. I'm honestly a little surprised that CODA got off the ground, but then again that was with GT's backing. I'd bet money one of those two office developments doesn't happen for a few years. I don't think the market is too far from supporting that kind of supply but it doesn't feel like it's there yet.

The suburbs basically have a monopoly on major spec office development right now, especially Cumberland.

Not so sure "the suburbs have a monopoly on major spec office development right now". If anything, I think "easily accessible to MARTA rail" is where the "monopoly" exists for spec office - as well as retail and residential and tenant announced office - these days... and ahead

Verge · #**8898** Posted **Jul 13, 2018, 1:42 PM**

Quote:

Originally Posted by skyscraperpage17

My guesses:

1. Google will officially announce they selected Atlanta for their 5,000 employee operations center.

2. You got word that Atlanta will be on Amazon's final short list.

3. Amazon or Microsoft have found a site for their data center in/around Atlanta and will commence groundbreaking.

4. The names of the 2 corporate tenants at Aerotropolis will be revealed.

No. 3 would not really be worth all the excitement... There's also the CIM Gulch project, I suspect will be revealed more or less in this time frame.

thepope117 · #**8899** Posted **Jul 13, 2018, 2:14 PM**

Quote:

Originally Posted by skyscraperpage17

My guesses:

1. Google will officially announce they selected Atlanta for their 5,000 employee operations center.

2. You got word that Atlanta will be on Amazon's final short list.

3. Amazon or Microsoft have found a site for their data center in/around Atlanta and will commence groundbreaking.

4. The names of the 2 corporate tenants at Aerotropolis will be revealed.

this also lines up with my friends moving here.

megalopolis · #**8900** Posted **Jul 13, 2018, 4:04 PM**

There is now a construction fence around this property on 12th Street and I saw two bulldozers doing site work yesterday. Looks like construction is beginning. It'll be a nice addition to my block.

https://atlanta.curbed.com/2018/2/26...ter-demolition