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| Rendering of planned Star Metals Offices, 1055 Howell Mill Road in the heart of Atlanta’s West Midtown submarket |
ATLANTA, GA –– Holliday
Fenoglio Fowler, L.P. (HFF) announces that it has arranged a $100 million
construction loan for the development of Star Metals Offices, a
14-story, approximately 267,237-square-foot creative office building, that
includes nearly 40,000 square feet of retail space, in the West Midtown
submarket of Atlanta, Georgia.
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| W. Allen Morris |
Working
on behalf of the borrower, The Allen Morris Company, HFF placed the
floating-rate construction loan with Barings LLC, one of the world’s largest
diversified real estate investment managers, on behalf of institutional
investors, and Bank OZK.
Star Metals Offices is located
at 1055 Howell Mill Road in the heart of Atlanta’s West Midtown submarket,
which features the largest concentration of creative office inventory in the
city.
This location is proximate to Georgia Tech, Tech Square,
Buckhead, The Battery and SunTrust Park as well as many of Atlanta’s primary
thoroughfares, including Interstates 75 and 85.
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| Gregg Shapiro |
Designed by the team of Oppenheim Architecture and Warner
Summers Architecture, the structure will include seven floors of office space
with outdoor terraces perched on top of a six-floor podium to include parking
and 30,707 square feet of ground floor retail.
Approximately 227,530 square feet of Class A office space
will be strategically designed to maximize creativity and collaboration within
today’s modern workplace, and has been 25 percent preleased to Spaces, a
leading co-working group.
The project is located
directly across the street from Star Metals Residences, a nine-story, 409-unit
multifamily project that is projected to deliver in July 2020.
Amenities at Star Metals Offices will include a
5,000-square-foot rooftop bar/café with 4,000 square feet of outdoor terrace
space offering unobstructed panoramic views of the Atlanta skyline, a
5,000-square-foot collaboration amenity space on the 7th floor,
outdoor terraces on every office floor, bike storage, on-site fitness and
shower facilities, a drone delivery landing site and MARTA connectivity via a
private building shuttle.
Additionally, Star Metals Offices will offer above market
parking consisting of five levels of structured parking totaling 520 parking
spaces and additional parking in Star Metals Residences.
“We know the Atlanta market
intimately having developed 21 prior projects in Georgia,” states W. Allen
Morris, Chairman and CEO of The Allen Morris Company.
“Star Metals Offices is intended to shatter the paradigm
with the most innovative, creative and attractive work environment in
Atlanta. It’s definitely not your grandfather’s office building.
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| Geoff Goldstein |
"We are attracting the most innovative, disruptive
companies that want to recruit and retain the top creative, tech-savvy
workforce in the city.
"For a CEO, it is a smart strategic move that will
set their company apart from the pack.”
The HFF debt placement team
representing the borrower was led by senior director Geoff Goldstein,
managing director Gregg Shapiro and director Matt Casey.
About The Allen Morris
Company
The Allen Morris Company,
founded in 1958, is one of the largest diversified real estate firms in the
Southeast.
The Allen Morris Company has long been a pioneer in office
development, including building the first multi-tenant office building on Miami’s
Brickell Avenue (1000 Brickell) and Alhambra Towers in Coral Gables, which
still outperforms the market today.
The mission of The Allen
Morris Company is to “Inspire, Impress, and Improve,” and that creed is
visible in every detail of the business. Over its 60-year history, The
Allen Morris Company has been involved in over 82 successful development
projects.
CONTACTS:
GEOFF GOLDSTEIN
HFF Senior Director
(212) 245-2425
GREGG SHAPIRO
HFF Managing Director
(404) 832-8460
OLIVIA HENNESSEY
HFF Public Relations
Specialist
(713) 852-3403
