10-acre south downtown site hits the market
By Amy Wenk - Staff Writer, Atlanta Business Chronicle
Mar 4, 2019
A nearly 10-acre site near south downtown’s Garnett MARTA station is hitting the market.
Gourmet Foods International is relocating from its headquarters at Ted Turner Drive and Whitehall Street. An affiliate of the wholesale food company now is seeking buyers for the property.
SSG Realty Partners is marketing the site, calling it Artisan Yards and offering a glimpse to the high-rise development that could be built there.
The marketing team is pitching the site as a “new creative center” and says it could house more than 10 million square feet of mixed-use development. Towers on the property could reach 50 to 60 stories, says SSG. A buyer could also remake existing buildings on the land, including large warehouses and a brick apartment building that dates back to the 1930s.
The property overlooks Interstate-20 and could benefit from big projects planned nearby, such as the massive redevelopment of the Gulch.
“It is in the middle of all of the key downtown sub-centers and in close proximity to both historic Castleberry Hill district and the dynamic new sports and entertainment district emerging around Mercedes-Benz Stadium, State Farm Arena and the Centennial Park District,” Peyton Stinson, director of SSG’s Strategic Land Group, said in an announcement.
Florida Investor Plans $100 Million Redevelopment on Peachtree
IG3 Real Estate, SDS Real Property Seek Developer for Large-Scale Project
September 17, 2018 / TONY WILBERT
A Florida Investment and development firm thinks the time is right to redevelop a large tract on Peachtree Road in Brookhaven, Georgia’s bustling business district.
IG3 Real Estate of Miami and SDS Real Property Holdings, Ltd. Hired two veteran land and investment brokers to find a developer and /or partner to lead the redevelopment of the 4.6-acre Porter Square/Broookhaven site at Peachtree and Colonial Drive. The property at 3920-3930 is across the street from Cherokee Plaza Shopping Center and about 300 yards from the Brookhaven MARTA Station.
IG3 and SDS envision a $100 million development on the tract that recently has been promoted as an ideal corporate headquarters site. The components of the project have yet to be determined, IG3 said.
“The market will tell us,” IG3 said. “It will definitely have a retail component. The group has hired HKS Architects to design a concept building for the property.
The property is located on a stretch of Peachtree just northeast of the city of Atlanta limits. The area has a heavy concentration of retail uses, though a second medical office building is planned directly across the street from Porter Square. The Porter Square property is in the Brookhaven-Peachtree Overlay District that allows the type of development IG3 and SDS are planning, so no rezoning will be required.
The Porter Square property has been owned by SDS, headed by Atlanta native and real estate investor Starr Porter, for more than 30 years. The site was home to a Hastings Nursery location and houses a Christmas tree operation during the holidays. It also is home to a Kauffman Tire auto center that will continue to operate until the redevelopment begins.
Porter said the brokers hired to market the redevelopment property, John Speros of Ackerman & Co. and David Branch of SSG Realty Partners, LLC have successfully represented SDS and his family for many years in markets across the Southeast. The brokers have been involved with Porter Square for 25 years.
Carlos Imery, who leads IG3, said the “truly transformative project” will reactivate the site across the street from a successful medical office development recently acquired by Caddis Healthcare Real Estate of Dallas. “We are extremely bullish on greater Atlanta and continue to see strategic investments and development opportunities in the area,” said Imery, whose IG3 will serve as asset manager overseeing the Porter Square redevelopment.
IG3 has been busy in Georgia recently, having led the acquisition of real estate assets in the state valued at nearly $100 million.
Did You Hear? Branch Brothers Officially Join Forces After Four Decades.
A Daily Look at the Movers and Shakers in Commercial Real Estate.
February 25, 2019 / TONY WILBERT
Brothers Barry Branch and David Branch, who separately have worked on tens of billions of dollars in real estate transactions globally over the past 40 years, finally decided it was time to officially form a company of their own.
The two brothers said this week that they have launched SSG Realty Partners, an investment sales firm that markets land and prime development sites in addition to raising equity for development on those parcels. The new entity combines David Branch’s land marketing company, Site Services Group, with Barry Branch’s Branch Real Estate Advisors, a capital markets firm. The company is based in Atlanta.
David Branch said he and his brother have worked together on specific projects in the past, such as the Terminus International Tennis Club in Atlanta’s northwest suburbs and Vineyard Park in Bartow County, Georgia, where SSGC Realty, Pope & Land Enterprises and Mason Capital Partners are planning a $300 million, mixed-use project. The brothers decided the time was right to formalize their business relationship because their complimentary skill sets and industry experience could create a platform for a full-service land company, David Branch said.
“We are cautiously optimistic that the current real estate cycle has another couple of years of strong market demand ahead, but we are intentionally building a land company designed to prosper in both up markets and down markets,” David Branch told CoStar News. “The best land buys are often facilitated during market downturns.”
The Branch brothers have worked on some of Atlanta’s iconic real estate developments, David Branch helped negotiate the ground lease for the 50-story One Atlantic Center, formerly know as IBM Tower, in Midtown, as well as the sale of the Peachtree Portal property in downtown Atlanta that now is home to the Allen Plaza mixed-use development. In 2012, David Branch assembled 1,300 acres for the LakePoint Sporting Community and Town Center mixed-use project in Bartow County, about 35 miles northwest of Atlanta.
A professor of real estate development at Georgia Tech, Barry Branch has led financing efforts for more than $12 billion of commercial real estate projects since 1971. For more than 13 years, he served as a senior executive for legendary architect/developer John C. Portman, Jr., where Barry Branch secured funding for the Atlanta Apparel Mart, Westin Peachtree Plaza Hotel in Atlanta, the Westin Bonaventure Hotel in Los Angeles and the Brussels International Trade Mart in Belgium. Later, as chief executive officer of the Dutch Institutional Holding Co., the U.S. real estate subsidiary of pension fund PGGM, Barry Branch teamed with developers Hines, Cousins Properties and Trammell Crow Co. on several major projects including the office tower at 191 Peachtree St. in Atlanta and Washington D.C.’s Market Square development on Pennsylvania Avenue.
SSG’s next major project could be at 3920-3930 Peachtree Road in Brookhaven, just northeast of Atlanta’s city limits. David Branch and broker John Speros took the property to market last year on behalf of IG3 Real Estate of Miami and SDS Realty Property Holdings, Ltd. The group received 10 offers for the property from multifamily and mixed-use developers, David Branch said.
“We have been tweaking the final project design and expect to finalize a contract within the next couple of weeks and move forward to a closing in the third or fourth quarter of 2019,” he said.