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April 14, 2014

IN THE NEWS – Ackerman partners with Cousins and H.J. Russell to develop new office tower

A trio of veteran developers wants to build a nearly 30-story tower in Sandy Springs that could lure the American headquarters of hotel giant IHG or another big company.

Ackerman & Co. and H.J. Russell & Co. recently formed a joint venture with Cousins Properties Inc. (NYSE: CUZ) on the mixed-use development, a site at Georgia 400 and Abernathy Road in Sandy Springs. Ackerman and H.J. Russell & Co. have controlled the site for a decade and even considered going “spec” on the office tower in 2007.

The new mixed-use project would also include a 400-room hotel and up to 30,000 square feet of retail. The site already contains the Serrano condominiums. The development team has not picked an architect.

Via Atlanta Business Chronicle. For more, click here.