SunTrust Bank’s real estate lending group commissions our firm on a biannual basis to prepare an overview of real estate market conditions in metro Atlanta. The office, retail, industrial, hotel, and multi-family sectors are evaluated, as well as recent demographic and economic trends.
Chase Manhattan Bank foreclosed upon five condominium projects in Atlanta. We were hired to formulate marketing plans for the remaining unsold units. Each project was analyzed on its own merits because circumstances varied greatly. After a thorough review of their marketing history, competition, unsold inventory, and buyer profiles, we recommended a specific plan of attack for each project.
MONY Real Estate Investment Management, a wholly owned subsidiary of AXA Financial, retained our firm to evaluate the highest and best use of the excess land associated with an adult independent living facility. We provided an independent assessment of the property and market, as well as an analysis of alternative disposition strategies. We were subsequently asked to handle the disposition of the property and consummated sales to the condominium association and Julian LeCraw & Company.
Metropolitan Life owned a major downtown Atlanta office tower. We prepared an analysis of the downtown office market and recent lease transactions to provide a clear understanding of competitive market conditions to incorporate into their long-range planning process.
Citicorp Real Estate, Inc. was the lender on One Peachtree Center, now known as SunTrust Plaza, a 1.2 million square-foot, multi-tenant office building in downtown Atlanta. We were retained to prepare a market analysis and to make recommendations on how to achieve a successful lease-up of the building, which opened in a very difficult market.
The commercial real estate department at NationsBank, which has since merged with Bank of America, wanted a clear understanding of the dynamics shaping Atlanta’s north central office market. Our firm provided a detailed market analysis, including a survey of existing tenants whose leases were nearing expiration.
New York Life owned a vacant, 4.8-acre site on Powers Ferry Road. Our role was to determine the property’s optimal use as a stand-alone development, or in combination with an adjoining parcel. A pricing and marketing strategy was also recommended.
