News

Coro Realty Advisors Closes $11,000,000 Loan for Georgetown Shopping Center Expansion with ING Investment Management

ATLANTA, GA - Coro Realty Advisors, LLC announces the refinancing of Georgetown Shopping Center, located at 4478 Chamblee Dunwoody Rd., Dunwoody GA 30338.  Georgetown Shopping Center currently consists of 132,681 square feet anchored by Kroger, Tuesday Morning and Workout Anytime.

The $11 million loan will be used to refinance the existing indebtedness on the property and to fund various physical improvements.  The improvements will consist of expanding the center to 144,360 square feet, expanding Kroger from its current 48,000 square feet to 70,500 square feet, relocating several tenants, improving the parking lot and aesthetic improvements.

Coro Realty’s affiliates have owned Georgetown Shopping Center since 1977.  The owner, Georgetown Shopping Center, LLC, consummated the 10 year loan with the intent to hold the center for further long-term appreciation.  According to Robert Fransen, Coro Realty’s Executive Vice President, “the combination of 10-year debt and attractive interest rates will enable us to not just stabilize, but to materially improve the long-term value and cash flow of this attractive asset.”  John Lundeen, Coro Realty’s President added, “we are pleased that both ING Investment Management and Kroger recognized our vision for the shopping center’s long term potential and are working to help us realize that vision.”

Coro Realty Advisors, LLC was founded in 1997 and is synonymous in Atlanta and throughout the Southeast with intelligent real estate development and investment.  With a commitment to smart growth, the urban landscape, and innovation, incorporating distinctive architectural designs and the latest in building trends and technology, Coro continues to demonstrate its leadership in the market with the successful execution of quality developments.  The firm provides Asset Management, Property Management and Real Estate Advisory Services for a myriad of residential and commercial properties throughout the Southeastern United States.

For More Information Please Contact:

Teresa Pastore
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia  30327
(404) 846-4000
tpastore@cororealty.com
www.cororealty.com

Coro Realty announces the acquisition of Taylor Collision and Suwanee Tool Rental and long-term Lease Agreement with ABRA Auto Body & Glass

For Immediate Release
July 25, 2011

Coro Realty Advisors, LLC announces its acquisition of Taylor Collision and Suwanee Tool Rental, located at 3730 Lawrenceville-Suwanee Road, Suwanee, GA, 30024.  Coro simultaneously entered into a development agreement and long-term lease with ABRA Auto Body & Glass to convert the former Taylor Collision and Suwanee Tool buildings into a 5,000 square foot free-standing office for ABRA and an adjacent 6,480 square foot auto repair facility.

John Lundeen, President of Coro, noted “We saw an opportunity to redevelop an underutilized property in a high-traffic area for a quality tenant.  We hope that this will be the first of several such build-to-suit transactions.”

The transaction was coordinated by Bart Cross of Grubb & Ellis, who represented ABRA and Coro in the purchase.

Coro Realty Advisors, LLC was founded in 1997 and is synonymous in Atlanta and throughout the Southeast with intelligent real estate development and investment.  With a commitment smart growth, the urban landscape, and innovation, incorporating distinctive architectural designs and the latest in building trends and technology, Coro continues to demonstrate its leadership in the market with the successful execution of quality developments.  The firm provides Asset Management, Property Management and Real Estate Advisory Services for a myriad of residential and commercial properties throughout the Southeastern United States.

For More Information Please Contact:

Teresa Pastore
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia  30327
(404) 846-4000

tpastore@cororealty.com
www.cororealty.com

Coro Realty Advisors announces the execution of two new leases at Buckhead Place Shopping Center

For Immediate Release
June 8, 2011

Atlanta - Coro Realty Advisors, LLC announces the execution of two new leases at Buckhead Place located at the corner of Peachtree and Piedmont Roads, in the heart of Buckhead.  LA Fitness will expand its existing space from 28,347 SF to 53,143 SF, adding basketball, racquetball and a pool to its facility and Pier 1 will occupy the 11,000 SF space adjacent to Marshalls, previously occupied by Kitchenaide.  Buckhead Place, a 15 acre mixed use project, includes not only these first class retailers, but also Gordon Biersch Restaurant and Brewery, the luxury high-rise apartment building O5 Buckhead and Hyatt Place hotel.  Long term plans for Buckhead Place include the development of additional retail, hotel, residential and office.

According to Patti L. Pearlberg, Coro Realty’s Vice President, “We are thrilled to welcome Pier 1 to the retail component of our mixed use project.  Pier 1 has been a stalwart in Buckhead’s home furnishing market for many years and is a great complement to Marshall’s.  LA Fitness has served its clients well since locating to Buckhead Place and the expansion is a natural evolution of its industry and commitment to its customers.”

According to John Lundeen, Coro Realty’s President, “The expansion of LA Fitness and the addition of Pier 1 fit perfectly into the long term vision for Buckhead Place.  Coro, through its varied clients, has invested in and believed in Buckhead since the 1970’s.  The corner of Piedmont and Peachtree is considered a core asset for our organization and adding these quality retailers to the mix underscores our commitment to the residential and business community in Buckhead.”

Coro Realty Advisors, LLC was founded in 1997 and is synonymous with Atlanta and Southeastern real estate with intelligent real estate development and investment.  With a commitment to smart growth, the urban landscape, and innovation, incorporating distinctive architectural designs and the latest in building trends and technology, Coro continues to demonstrate its leadership in the market with the successful execution of quality developments.  The firm provides Asset Management, Property Management and Real Estate Advisory Services for a myriad of residential and commercial properties throughout the Southeastern United States.

For more information on this property please visit
www.cororealty.com/properties/buckhead-place or contact:

Teresa Pastore
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia  30327
(404) 846-4000
www.cororealty.com

Coro Realty Advisors Announces the Acquisition of The Pointe at West Cobb

For Immediate Release
June 6, 2011
 

Coro Realty Advisors, LLC announces the acquisition by Daltex Pointe, LLC of the Pointe at West Cobb, 3451 Earnest Barrett Parkway, Marietta, Georgia.  The Pointe at West Cobb consists of free-standing Walgreens, Applebee’s and Arby’s, 19,716 square feet of retail space and a 12,534 square foot, three-story office building.  The property is 92% occupied.

John Lundeen, President of Coro, believes that the Pointe at West Cobb fits well with Coro’s philosophy of acquiring strategic infill properties.  “We pursued this property due to its strong corner in a high traffic area adjacent to the Home Depot.  We expect the continued growth in this area to continue to improve the property’s fundamentals.”  The Pointe at West Cobb is located at the corner of Dallas Highway and Earnest Barrett Parkway.  In addition to being adjacent to the Home Depot, the Pointe at West Cobb benefits from its proximity to Lowe’s, Publix, Staples and Target.

The acquisition of the Pointe at West Cobb was part of a larger purchase from Olympia Development Group coordinated by Coro Realty Advisors, LLC.  Robert Fransen, Executive Vice President of Coro, noted “This was a rather complex transaction, involving four distinct sites, three purchasers, two title companies and several brokers, all of which had to close simultaneously.  We are gratified that all of the parties, including Olympia, Allstate, American Realty Capital, Daltex Pointe, LLC, Ackerman & Co. and CB Richard Ellis, worked so tirelessly to help close this transaction.”

For More Information Please Contact:

Teresa Pastore
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia  30327
(404) 846-4002


 

Coro Announces the Acquisition of Oglethorpe Crossing

For Immediate Release

March 3, 2011

Coro Realty Advisors, LLC announces the acquisition of Oglethorpe Crossing Shopping Center, located at 3435 Ashford Dunwoody Road, by Daltex Oglethorpe Crossing, LLC.  John Lundeen, President, believes that Oglethorpe Crossing fits well with Coro’s philosophy of acquiring strategic infill properties.  “We pursued this property due to its strong tenant profile and its excellent location in Atlanta’s Oglethorpe neighborhood.” Oglethorpe Crossing is located at the corner of Johnson’s Ferry Road and Ashford Dunwoody Road, adjacent to Peachtree Golf Course.

Oglethorpe Crossing is a 58,413 square foot shopping center anchored by Publix and CVS.  The center serves as a community draw by bringing customers from the established neighborhoods of Oglethorpe and Murphy Candler Park.

For More Information Please Contact

Teresa Pastore
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia  30327
(404) 846-4002

Coro Realty Closes $12,600,000 loan for Chapel Square Shopping Center

ATLANTA, GA – Coro Realty Advisors, LLC, an Atlanta-based leader in the development, management and repositioning of office, residential and retail properties, is pleased to announce the refinancing of Chapel Square, a 138,246 square foot shopping center in Avon, CO. 

The transaction was financed by Ladder Capital Finance, LLC and arranged by Northmarq Capital.

Robert Paul Fransen, Executive Vice President of Coro Realty said, “We are pleased to see that liquidity remains for quality assets, and gratified by Ladder Capital and Northmarq’s diligent, quick and collaborative approach to closing this transaction.”

Chapel Square is anchored by Office Depot, Pier One, Sports Authority and Wells Fargo.

About Coro Realty Advisors

Coro Realty Advisors is a full service development, investment and real estate advisory company.  It manages properties for third parties and invests its own capital in joint venture transactions. Coro focuses on identifying strategically located properties, and working to maximize their potential through development, redevelopment, active management and leasing. Coro was founded in 1997, and currently oversees a diverse portfolio consisting of over two million square feet of commercial space, including retail, office and industrial, and over 1,500 residential units.  For more information, please visit www.cororealty.com.

For More Information Please Contact:

Teresa Pastore
Coro Realty Advisors, LLC
3715 Northside Parkway
400 Northcreek - Suite 100
Atlanta, Georgia  30327
(404) 846-4002

Coro Appoints Robert Fransen as Executive Vice President and Chief Investment Officer

 

For Immediate Release

July 19, 2010
 
ATLANTA – Coro Realty Advisors, an Atlanta-based leader in the development and repositioning of office, residential and retail properties, welcomes Robert Paul Fransen as Executive Vice President and Chief Investment Officer. Mr. Fransen will be responsible for Coro’s acquisitions, disposition and financing activities. His primary function will be to expand Coro’s successful Atlanta-based portfolio throughout the southeastern United States and into certain select additional markets.
 
“We are pleased to have a person of Robert’s background and skill joining Coro.  His enthusiasm and extensive experience are expected to continue Coro’s growth,” says John Lundeen, CEO of Coro. “He shares our vision for developing quality properties that fulfill the goals of our clients and partners, and enhance the community.”
 
Mr. Fransen brings with him extensive experience in developing office, residential and retail properties. He most recently served as President, North America Operations of the Slokker Group. In this capacity, Mr. Fransen oversaw real estate holdings in eleven US states and Canadian provinces. Prior to joining Slokker, he served as legal counsel at Battle Fowler LLP and Baker Botts LLP.
 
Mr. Fransen has a B.A. from the University of Virginia, a J.D. from the Fordham University School of Law and an M.B.A from the University of Chicago Booth School of Business.
 
About Coro Realty Advisors
Coro Realty Advisors is a full service development, investment and real estate advisory company. It manages properties for third parties and invests its own capital in joint venture transactions. Coro focuses on identifying strategically located properties, and working to maximize their potential through development, redevelopment, active management and leasing. Coro was founded in 1997, and currently oversees a diverse portfolio consisting of over two million square feet of commercial space, including retail, office and industrial, and over 1,500 residential units. For more information, please visit www.cororealty.com.
 
For More Information Please Contact:
 
Teresa Pastore
Coro Realty Advisors, LLC
400 Northcreek
3715 Northside Parkway
Atlanta, Georgia 30327
(404) 846-4002

Execution of LA Fitness Lease - Sandy Springs Crossing Shopping Center

For Immediate Release
June 1, 2010

 
Coro Realty Advisors, LLC announces the execution of an LA Fitness lease for the 50,000 SF Anchor Space at Sandy Springs Crossing Shopping Center. According to Patti L. Pearlberg, Vice President, “We are thrilled with this new direction for this shopping center.  We think that LA’s decision to locate at this strategic intersection in Sandy Springs is a win/win for LA, the other tenants in the center and the owners.  Locating a first class fitness facility adjacent to the Abernathy Road Greenspace Park and multi-purpose trail along Abernathy is a perfect fit.”
 
According to Bill Horner, Senior Vice President/Chief Real Estate Officer for LA Fitness, “The location is consistent with LA Fitness’ belief that convenience can be a major component in keeping on a fitness program. The intersection of Roswell Rd and Abernathy should serve that purpose well, as it is both neighborhood adjacent and on a normal path of travel. He added, “Convenient locations combined with all the amenities, equipment and classes in our Clubs of this size provide members high value relative to cost in pursuit of their fitness goals.”
 
Jackie Wammock, Vice President of Leasing at Coro represented the owner and Ruth Coan, Principal at Shopping Center Group Represented the Tenant.
 
Coro Realty Advisors, LLC was founded in 1997 and is synonymous in Atlanta and throughout the Southeast with intelligent real estate development and investment. With a commitment smart growth, the urban landscape, and innovation, incorporating distinctive architectural designs and the latest in building trends and technology, Coro continues to demonstrate its leadership in the market with the successful execution of quality developments. The firm provides Asset Management, Property Management and Real Estate Advisory Services for a myriad of residential and commercial properties throughout the Southeastern United States.
 
 
For More Information Please Contact:
 
Teresa Pastore
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia 30327
(404) 846-4002

Coro Announces the Acquisition of Midtown Place

For Immediate Release
April 20, 2010

 
Coro Realty Advisors, LLC announces the acquisition of Midtown Place Shopping Center on behalf of its partner JH Holdings, Inc., located at 650 Ponce de Leon Avenue. John Lundeen, President, believes that Midtown Place marries well with our philosophy of acquiring infill, urban properties with stable tenants. “We pursued this property due to its strong tenant profile and its excellent location in Atlanta’s Poncey Highlands neighborhood.” Midtown Place is located on the northeast corner of Ponce de Leon and Lakeview Avenue, across from City Hall East. 
 
Midtown Place, a 256,712 square foot community shopping center was built in 1999 by The Sembler Company. Since its inception, the center has served the local community through its, upscale tenants such as The Home Depot, Whole Foods, PetSmart, Staples and Borders Books & Music. Midtown Place offers a well-balanced mix of retail, service and restaurant uses to the underserved and very dense Midtown population. The center serves as a community draw by bringing customers from the established neighborhoods of Virginia Highlands, Midtown, and Morningside.
 
Patti Pearlberg, Vice President/Asset Management, believes that the acquisition of Midtown Place was a natural given that it fits with our investment strategy to acquire class A properties - both apartments and retail – that generate strong cash flow.” Jackie Wammock, Leasing Vice President, believes that Midtown Place’s strategic location makes it a solid addition to Coro’s urban retail portfolio, attracting national, regional and local tenants.
 
For More Information Please Contact:
 
Teresa Pastore
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia 30327
(404) 846-4002

 

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