Coro News
Retail is dying? Not in Atlanta
Courtesy of Amy Wenk and Douglas Sams
Atlanta Business Chronicle - May 26, 2017
See Full Article - http://www.bizjournals.com/atlanta/news/2017/05/26/retail-is-dying-not-i...
As developers this week head back from pitching their projects in Las Vegas, where RECon, the world’s largest retail convention, just wrapped up, they return to an Atlanta market boasting its healthiest numbers in years.
Metro Atlanta’s retail space vacancy stands at 8.5 percent, the lowest point in a decade, according to real estate services company Colliers International.
That number belies store closings and bankruptcies across the U.S. retail sector.
Atlanta is also bucking some of the trends. In urban and suburban retail districts including Midtown, Buckhead and the Central Perimeter, vacancy dropped to 7.5 percent at the end of the first quarter. That’s a big turnaround since 2012 — when those same areas had vacancy closer to 11 percent.
Loudermilk selling Midtown properties to Coro in $47 million deal
Courtesy of Douglas Sams and Amy Wenk
Atlanta Business Chronicle - April 13, 2017
See Full Article - http://www.bizjournals.com/atlanta/news/2017/04/13/loudermilk-selling-mi...
Longtime Atlanta real estate developer Robin Loudermilk is selling his portfolio of Midtown retail and parking properties as he turns more focus toward his Buckhead Village projects.
Loudermilk, president and CEO of The Loudermilk Cos., has struck a deal with Coro Realty Advisors LLC.
Coro is paying about $47 million, or more than $520 a square foot, for 87,905 square feet of street-level retail.
Those properties include prime retail space at 800 Peachtree, 805 Peachtree, Seventh Midtown and at the Spire and Viewpoint condo towers. Tenants at those buildings include Starbucks; the city’s first urban-format QuikTrip; and World of Beer.
The transaction also includes 606 parking spaces, many along Peachtree.
The entire transaction could be complete by the end of April, Coro executive Robert Fransen said. A deal for Shops at Spire, which includes Five Guys burgers, is still pending, Fransen added. Loudermilk will maintain a stake in 881 Peachtree, a new mixed-use project underway with The Hanover Co. that includes a nearly 400-unit, 29-story apartment tower, with retail space and about 30,000 square feet of office.
McKibbon Hospitality Announces New Hotel in Atlanta's Buckhead Neighborhood, Construction to Start Late Summer
Atlanta, Ga. (August 3, 2016) – McKibbon Hospitality, an award-winning hotel developer, owner and manager based in Tampa, Florida, and Gainesville, Georgia, announced its partnership with Coro Realty Advisors to build a new, 186-room, 108,659 square feet Hampton Inn & Suites by Hilton along Piedmont Road in the Buckhead area of Atlanta.
“We are thrilled to partner with Coro Realty Advisors to bring a premium hotel brand and more hotel rooms to the Buckhead area,” said David Hughs, president of McKibbon Hospitality’s investments and development division, “The Buckhead neighborhood is incredibly vibrant and we are proud to bring our experienced hospitality team to the community.”
The hotel will be located in the present shopping center named Buckhead Place, which is anchored by LA Fitness, Marshall’s, Pier One, Hyatt Place and 05 Buckhead apartment tower. The Hampton Inn & Suites Atlanta Buckhead Place will front on a private access road that runs to Piedmont Road.
Meet North + Line, the new $60 million mixed-use project replacing the Masquerade
Courtesy of Max Blau
Atlanta Magazine - April 29, 2016
See Full Article - http://www.atlantamagazine.com/news-culture-articles/meet-north-line-new...
When the Masquerade first opened in 1989, the North Avenue rock club gave people a reason to visit what was then an unremarkable and unsafe industrial corridor. The Masquerade, housed within an old mill that for decades chopped wood into slivers for packaging, boasted three stages, cleverly named Heaven, Hell, and Purgatory. But a decade ago, the Old Fourth Ward started to change: The venue’s parking lot became Historic Fourth Ward Park, City Hall East reopened as Ponce City Market, and luxury apartments popped up along the Atlanta BeltLine’s Eastside Trail. Gradually, the music venue that made many Atlantans care about the area became destined for displacement.
This coming Monday, the project replacing the Masquerade, a $60 million mixed-use development called North + Line, will break ground. Once finished in April 2018, a new eight-story building will offer 228 luxury apartments with BeltLine access, a pool with a skyline view, and a neighborhood tavern. The mill itself will be renamed Mill Marketplace, and instead of a grimy club, you’ll find a chef-driven restaurant, as well as retail shops.
In 2005, Dean Riopelle, the one-time head of the Masquerade who died three years ago, sold the Excelsior Mill to Vinings-based developer Southeast Capital Companies for $4 million. Jay Clark, the firm’s founder and CEO, originally planned to demolish the building at a time when both the BeltLine and Historic Fourth Ward Park were nothing more than plans.
Nolensville's surging population sparks a jolt of retail
Courtesy of Adam Sichko
Nashville Business Journal - March 18, 2016
See Full Article - http://www.bizjournals.com/nashville/blog/2016/03/nolensvilles-surging-p...
Developers from Brentwood, Nashville and Atlanta are combining for a mixed-use project on Nolensville Pike that will include $48 million worth of residential development and $9 million of retail. Put another way, it'll be 200 housing units (mainly town homes, but also a few dozen condos) as well as 36,000 square feet of retail.
The Census Bureau says Middle Tennessee is seeing, on average, a net gain of almost 100 people every day, including newborns and people relocating here. Increasingly, those moving vans are heading to places like Nolensville — which has quickly emerged as a lower-cost alternative to Brentwood and Franklin. The town's population has grown roughly 25 percent since 2010, to about 7,500 people. That population is projected to double by 2025, which is why the town has three schools under construction ( as seen on our Williamson Watch map). The town is in a great location, basically halfway between Interstates 65 and 24, and it's just about the same drive to downtown as it is to hit State Rte. 840.
Enter Brentwood-based PGM Properties LLC, which is overseeing the retail piece of the proposed Shoppes at Burkitt Place, at 7022 Nolensville Pike. PGM is teaming with Atlanta-based Coro Realty Advisors on its piece of the 22-acre site.Regent Homes, one of Nashville's largest homebuilders, is spearheading the residential piece.
