Category: Office

Kirk Rich, Ackerman & Co. President of Brokerage, Keener Miller (center) and Sim Doughtie

Keene Miller, Ackerman & Co. President of Brokerage and also President of The Atlanta Commercial Board of Realtors, spoke at the 59th Million Dollar Club Banquet, celebrating the best in commercial real estate. The Atlanta Commercial Board of REALTORS® is one of the largest commercial in the nation with more than 2,200 members. The 2017 Million Dollar Club produced over a record-setting $26+ billion in commercial real estate transactions, surpassing the previous record of just over $25 billion, set in 2016.

Ackerman congratulates all Million Dollar Club award winners, including our own, for their outstanding achievements. Each of the following Ackerman brokers has generated in excess of four and a half million dollars in commercial real estate sales and leasing activity last year.

Kevin Hermetz $20+ Million		Sean Patrick $20+ Million		Larry Jarema $10+ Million
Frank Farrell $4.5+ Million		Jimmy Stevens $4.5+ Million		Brett Buckner $4.5+ Million

Ackerman & Co. has announced the recent acquisition of a three-building industrial portfolio in the Westgate Business Park in Atlanta, Ga. The three buildings (5215, 5245 and 5260 Westgate Drive) were purchased in an off-market deal from Clarion Partners, LLC for $7.55 million.

The three well-located, front-load, shallow-bay industrial buildings total 274,791 square feet and are fully occupied. Ackerman & Co.’s in-house team will provide leasing and management services for the new acquisition. The deal was facilitated by Cushman and Wakefield’s Stewart Calhoun and Casey Masters. The all-equity transaction was sourced through a new partnership with a leading European private equity group.

“The I-20W/Fulton Industrial Submarket continues to be a top performer with low vacancy and steady quarter-over-quarter average rental rate growth,” said Kris Miller, President of Ackerman & Co. “We are very excited about this opportunity to purchase highly functional industrial properties in a key submarket,” he added.

F. Keene Miller, President of Brokerage with Ackerman & Co. was named President of the Atlanta Commercial Board of REALTORS (ACBR) for the 2017 term. Miller was sworn in during ACBR’s Annual Business Meeting and Awards Ceremony held at the InterContinental Hotel Buckhead on December 9th. The Atlanta Commercial Board of Realtors, an instrumental factor in the growth of organized real estate in the state of Georgia since 1910, is the largest commercial realtor association in the country with more than 2,500 members.

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“Service above self is his motto,” said John O’Neill, senior managing director at Cushman & Wakefield, when describing Miller from the podium during the ceremony. “Keene is a consensus builder who leans in to get the job done,” he added. Miller will be the association’s 42^nd president.

Miller who believes in “never letting the moment be bigger than him” is committed to the ACBR’s continued efforts to increase diversity, offering higher education classes and advocating for the commercial real estate industry while supporting the communities in which they do business.

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Recently we discussed the factors that go into making an Atlanta dental practice successful. But before these components come into play, there is a major decision to be made: what environment is better suited for your practice? Office or retail? Read this installment to find out which is right for you.

Click here to read more.

Millennials are set to take over as the largest living generation, surpassing Baby Boomers this year. What does this mean to you? Well, if you own a business and would like to attract and retain young talent, here are a few things you should consider:

• Millennials will be the majority U.S. workforce by the end of 2015
• Two-thirds are in management level positions; this is projected to increase by two-thirds in 10 years
• Millennials are more technologically agile, creative, open to change and adaptable than the previous generation

How can you find and retain millennial talent? One way is through cause marketing. Millennials feel responsible for making a positive impact on the future and are demanding that the companies they work for and patronize support causes as well.

Click here to learn more about how you can reach millennials with cause marketing.

Kris Miller, President of Ackerman & Co., spoke to a packed room of industry professionals last night at The Atlanta Commercial Board of Realtors’ 56th Million Dollar Club Banquet. “We are here to honor the best commercial board in the country,” he said. The Atlanta Commercial Board of REALTORS® is one of the largest commercial in the nation with more than 2,200 members. The 2013 Club produced some $17 Billion in commercial real estate transactions.

Ackerman applauds all Million Dollar Club award winners and proudly recognizes its own for their outstanding achievements. Each of the following Ackerman brokers have generated in excess of three million dollars or more in commercial real estate sales and leasing activity last year.

Kevin Ehringer $10-15 Million
Kevin Hermetz $5-10 Million		Sean Patrick $5-10 Million
Frank Farrell $3-5 Million

By now we’ve all heard the buzz about MARTA’s expansion of services due North. What does this mean for the North Fulton corporate community? Will this attract millennials? And if yes, how long is this going to take?

As someone who listens to corporate commentary on the GA 400 real estate corridor, I can tell you that the already diverse North Fulton corporate community has experienced a number of changes in the last five to ten years, leaning heavily into technology thanks to the area’s fantastic fiber optic connectivity (and 900 technology companies in the corridor). This surge in all things technology also appeals to younger employees; we’ll refer to them as millennials. These 22-32-year-old professionals in general reside inside the I-285 perimeter, in areas like Buckhead, Brookhaven and Morningside. Adding an extension of MARTA up GA 400 would help retain (and in some cases, increase) North Fulton’s ability to attract millennial and non-millennial employees, and it would greatly expand the region’s economic base.

The expansion of MARTA rail services north of GA 400 would also benefit the North Fulton corporate community as a whole, preventing the migration of large corporate users such as State Farm. Moreover, the expansion would ease the traffic burden on GA 400 — an added bonus to all of us.

There are a few drawbacks to this proposed extension of services; the biggest being the time implementation. The MARTA discussion, which started before the Great Recession, was then set to be completed by 2025. That timeline has not changed. How many of us can wait another 10-plus years for this? It’s an interesting proposition that I support wholeheartedly, but the question is: how different will the region’s transportation needs be in 2025? I welcome your feedback on this important topic.

Alpharetta based architectural firm Hug & Associates had been in the same 30,000-square-foot office building they designed since its delivery in 1999. Over time, the architects became interested in relocating to an exciting “new urban” mixed-use environment where they could walk out of their office and step into shops and restaurants – all the while remaining in the Alpharetta business district.

Ted Schwartz, who had negotiated Hug & Associates’ lease renewal a few years earlier, was up to the challenge. When he came across a rare lease opportunity in Avalon, Alpharetta’s newest landmark mixed-use development, he remembered his client’s strong desire to relocate to a mix-used project and contacted them immediately.

A little persistence, a trailer visit and six weeks later, Ted represented Hug & Associates in signing a long-term lease to relocate its office this coming December. And, as fate would have it, their lease will expire just as Avalon (and their swanky new office space, which they were able to custom design) will deliver.

Deal Highlights:

• Prime Alpharetta business district location
• 2689 square feet; 10-year term
• Elevator lobby space
• Generous build-out allowance
• Tenant retains design control

The Georgia Health Policy Center’s study of Georgia’s dental workforce defines a “dental professional shortage area” as a geographic area with less than one dentist for every 5,000 residents. While Forsyth County is not named as one of these areas, its population growth makes it a strong contender.

Forsyth County is the seventh fastest growing county in the nation, according to Forbes Magazine. In the past two years, the population grew 7.07%. What’s the allure? It could have something to do with Forsyth County’s award-winning schools, which boast the highest CRCT and ACT scores in the state. Perhaps it’s because Forsyth County was named one of the 100 Best Communities for Young People by America’s Promise Alliance in 2012. Whatever the reason, the demographics confirm that the population is growing. The population is educated (26% have attained at least a Bachelor’s degree), employed and the average household income is nearly $100,000. That’s pretty impressive.

To read the entire post, click here. 

We’ve reached the last installment of our three-part series on the Factors That Affect Our Economy, Dentistry and Your Business.

We first looked at the State of the Market and identified the destabilizing factors of 2013. We then looked at four risks to consider in 2014 — growth, interest rate fluctuations, lease costs and demographics. This time, we are going to address the opportunities that exist for dentists in this market in the now familiar risk sections.

To read the entire post, click here.