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| Pierce Lancaster |
ATLANTA, GA – Third &
Urban, a real estate development and investment firm, announces it has
purchased four warehouse buildings with three more set to close by the end of
the year in the up-and-coming Armour/Ottley industrial area adjacent to
SweetWater Brewing Company and American Spirit Works.
The 275,000 square feet of
warehouse buildings were chosen for their excellent access to I-85, Piedmont
Park, future Atlanta BeltLine and Path 400 trail access and their proximity to
Buckhead and Midtown.
The $70 million redevelopment, called Armour Yards, is
fully funded, with groundbreaking taking place in August 2015 and rolling
deliveries scheduled between winter and summer of 2016.
“We’ve spent considerable
time studying a lot of progressive office product in west coast markets over
the past year—airy, approachable campuses in urban settings with a focus on
community and quality of life,” says Pierce
Lancaster of Third & Urban.
“TAMI tenants (tech, advertising, media and
information) have largely driven this shift, but we think the appeal is
universal, and growing rapidly in the Southeastern U.S.”
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| Hank Farmer |
Through assemblage of the
seven warehouse buildings, Third & Urban has sufficient scale to make a
true impact on the streetscape and overall environment of Armour Yards.
The
mixed-use buildings will provide tenants with physically inspiring office
space, incorporating restaurants, a coffee shop and a variety of entertainment
options.
“People are seeking a work
environment that’s different from the status quo, that provides discovery and
delight in every detail, and that has the comfortable feel of a place you
enjoy,” says partner Hank Farmer.
Leasing for Armour Yards
is being led by Jeff Bellamy, Brooke
Dewey, and Liz Koteles of JLL. Gay Construction has been selected as
general contractor for the first phase of development, with architecture by
Smith Dalia Architects and Kronberg Wall.
For a complete copy of the company’s news
release, please contact:
Lapidus/Andi Hill
Liz Lapidus PR
404-688-1466
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