3833 Roswell Road

3833 Roswell Road, Atlanta, GA 30342

2,655 SF$0.09/sf/year ($21 per month)

Office, Medical Office, Retail

Tuxedo Atrium is a well-known North Buckhead landmark on Roswell Road near Piedmont Road. The property offers monumental signage with high exposure visibility and covered parking for your clients and employees. The impressive one-story, approximately 28,182 sq ft building has high-end office and retail tenants catering to the affluent Buckhead neighborhood clientele. The Buckhead area is one of the most sought-after office, retail and residential areas in the city of Atlanta. Buckhead offers one of the highest family incomes in the Southeast with incomes averaging in excess of $138,000 within a three mile radius. Buckhead is one of Georgias second largest downtown, with three-fourths as much office space as downtown Atlanta, with approximately 1,400 retail outlets, grossing more than $1 billion in annual sales. Buckhead contains only a little more than 2 percent of the Atlanta regions single family housing, but almost 40 percent of the regions supply of homes valued at over $500,000. Atlantas three wealthiest zip codes are in Buckhead. Office Spaces Available: Suite 110 - 2,655 sq ft; Lease Rate $21.00/sq ft Full Service Suite 105 - 1,815 sq ft; Lease Rate $21.00/sq ft Full Service

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Atlanta Retail Space - Real Estate Revival

More medical-related space is scheduled to open in Orlando next year than in at least the previous four years combined, a new report shows.

Cushman & Wakefield this week released its first report tracking the medical office market for the four-county Orlando metropolitan area and projected that more than 2 million square feet of hospital and health-care office space will open in the region next year. Typically, the market gets about a fifth of that amount.

"Just about every hospital is adding new towers," said Anne Spencer, a Cushman & Wakefield director who compiled the report over the course of a year. "Most of the new construction over the next 12 to 24 months will be done by a hospital system, not by physicians' groups."

Construction includes new Florida Hospital facilities in Apopka and south of Winter Garden. In addition, about 100,000 square feet of medical office space is to come on line at Lake Nona's Medical City in southeast Orlando. The 46-page report includes construction of both hospitals and doctors' offices but focuses primarily on vacancies and lease rates for about 11 million square feet of medical offices within Orange, Lake, Seminole an Osceola counties.

The Orlando office of the real-estate brokerage expects to release quarterly reports tracking the amount of medical-related office space in the market an indication of the growth of that specialty market with construction at Medical City and the expansion of Florida Hospital throughout the region.

Tampa-based RJ King & Associates specializes in medical office properties in Tampa and Orlando and tracks the sector, but the new Cushman and Wakefield report goes further in looking at the emerging trend of retail-style medical offices that are closer to patients' homes than to hospitals.

"It's changing," Spencer said. "Historically, medical offices were always built near hospitals. But now, with the advancement of technology, we're seeing a lot of ambulatory surgery centers and other medical go into retail [space]."

The decentralization of medical space not only puts physicians closer to patients, it also allows them greater marketing opportunities by putting their names on buildings, she added.

In other parts of the country, Spencer said, the amount of medical space is contracting but population growth in the Orlando area has driven the need for more health-related real estate.

Owen Beitsch, senior principal for Real Estate Consultants in Orlando, said the health-care landscape is changing so quickly, from the national level down, that it's difficult to predict how medical needs will be met in the future. But it has been evident in recent years that physicians have had a growing presence in satellite offices in the suburbs, he added.

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Health-care space growing quickly in Orlando, report finds

The four-story building had been a headache - and a biohazard bonanza, with mold, fungi, vermin, asbestos and other problems - for neighbors, including the Freire Charter School.

The high school shared a wall with the annex, and school administrators had pleaded for years with the city - the Redevelopment Authority had owned it since 1993 - to remediate or raze the hazardous hellhole.

At last week's groundbreaking, Freire's student-body president, Tyrone Williams, thanked the developers and politicians gathered, including Mayor Nutter, City Council President Darrell Clarke and Councilwoman Jannie Blackwell.

"In a world where money and profits seem to be the focus, it is refreshing when you see the focus being placed on bettering the community," Williams said.

Aquinas Realty Partners bought the site from the city for $800,000 and named the project AQ Rittenhouse.

The 12-story tower will include space for Freire, a bicycle-repair shop and storage, rooftop grills and fire pits, a center courtyard, a 24-hour doorman and concierge, a Wi-Fi cafe, a restaurant and other ground-level retail.

It's expected to be completed this fall.

Center City is Philadelphia's fastest-growing residential neighborhood, according to the Center City District. Residential population downtown grew by more than 10 percent from 2001 to 2011, the district found in a 2011 report.

On Twitter: @DanaDiFilippo

Blog: phillyconfidential.com

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From hell to heaven: Problem property razed for luxury apartments

| Published 04/10/14 10:44pm

C hapel Hill and Carrboro should consider implementing tax-based incentives to promote the development of additional office space.

With businesses struggling to find suitable office space in the two municipalities, this would help to offset some of the inconveniences of local bureaucracy that make building office space so unattractive to developers.

The extended time that it takes to get projects approved by the local governments is one such significant barrier to development.

The incentives, while initially decreasing the municipalities tax revenue, would ultimately have a positive impact on the local economy.

Additional office space would attract new businesses to the area while also ensuring that some businesses wouldnt be enticed to leave when trying to find space to expand. The additional economic activity provided by these firms, which could be taxed, would make up for any funds lost during the construction of the buildings.

Recent construction in the area has largely been centered on additional housing and retail space.

While the planned University Square redevelopment pledges to diversify the nature of its buildings use, including office space, other developments such as 140 West Franklin have neglected to allot similar space.

Even a single floor of office space in the latter development could have been hugely beneficial, and with the somewhat slow selling of the condominiums, it doesnt seem as though the residential plan was a complete success.

Businesses looking to relocate to Chapel Hill are essentially at the mercy of developers, and incentivizing these developers to create space for them would benefit both the local economy and the businesses.

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Opinion: Tax incentives for office space would draw more firms

By George C. Ford, The Gazette

With the closing of Westdale Mall and construction of new commercial centers, the retail picture is changing in southwest Cedar Rapids,

Discount Tire, a national tire and wheel retailer, is expanding its Iowa presence with the construction of a 6,947-square-foot store at 3050 Wiley Blvd. SW on the perimeter of Wiley Point, which anchored by an 81,000-square-foot Kohls.

Rob Wise, regional vice president for Discount Tire, said the store will employ about 10 people with a mix of full- and part-time employees. Wise said the store is projected to open around Sept. 1, depending on various conditions and schedules.

The growth of Cedar Rapids among residents and businesses has made it a perfect fit for Discount Tire, Wise said.

The privately-owned Scottsdale, Ariz., company sells the Goodyear, Michelin, Bridgestone, Yokohama, Kumho, BFGoodrich, Pirelli, Hankook, Falken, Fisk and GT Radial brands. Founded in 1960, Discount Tire has grown to more than 870 stores in 28 states.

Discount Tire opened a store last fall in the former Sears Auto space at Coral Ridge Mall. It previously opened two stores in Davenport.

Wise said Iowans should expect to see additional Discount Tire locations in coming years.

Contractors are preparing a 5,800-square-foot space in Edgewood Station at 2320 Edgewood Rd. SW for Elevate, formerly City Looks at Westdale Mall. The salon and spa, which will close April 26 and plans to open April 29 at its new location, was granted a reprieve when the mall doors were locked on March 31.

Gerry Ambrose, co-owner and developer of Edgewood Station, said a lease has been finalized with General Nutrition Center, a former Westdale tenant, for the remaining space in Edgewood Station.

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Retail changes coming in Cedar Rapids

Macro Economy Has Been Non-Conducive For The Retail Sector

Over the last 6-8 quarters, the retail sector in India has been subject to immense pressures from a slowing economy, stagnancy in jobs and incomes, and lack of stimulus from government policies. More recently, Indias quarterly GDP consistently fell short of the 5.0% y/y growth mark, which was the average growth recorded for the last financial year FY2012-13. For FY2013-14, the economic growth rate is expected to come in at less than that observed in the previous year.

Private consumption expenditure, which is a critical component accounting for over 60% of Indias GDP, saw a growth slump, recording not more than 3.0% y/y growth in the recent four quarters. Lack of confidence among the consuming class due to compromised job prospects and income growth has led a rising proportion of income going towards secure savings rather than consumption spending. High inflation and borrowing rates further derailed hopes of an early recovery. Moderated consumption spending and high inflation has had a direct impact on the retail sector, whose growth momentum has been falling sharply.

Lack Of Policy Stimulus & Demand-Centric Mall Development

Mall space absorption continued to remain weak in 2013 from the low levels observed in 2012 across the leading seven cities of India. Factors that were responsible were a poor policy framework and the lack of new mall construction. In the last 6-8 quarters, retail has been subject to difficulties on the policy front, as progress on retail sector FDI hung in the balance. While the ruling government was in favour of liberal reforms in FDI policy, stiff opposition from other political parties gave foreign retailers reason to remain cautious. Also, with the upcoming elections threatening to overthrow the current ruling alliance, withholding investment decisions retailers was probably the best option available to retailers at this time.

While the external environment plays a huge role in demand for retail space, supply is an important consideration too. Premium fashion brands that enter India have had difficulties in finding quality mall space. Major Tier-I cities of Delhi-NCR, Mumbai and Bangalore witnessed a fall in supply of quality malls as developers responded to the current situation by holding on to project completions. Retailers responded by either looking for spaces in quality high streets or by delaying entry completely.

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JLL: Retail Real Estate Awaiting An Upswing

500,000 sqm of retail space in the pipeline, mainly in eastern Poland - JLL

Some 550,000 sqm of retail space is currently under construction, 87 percent of which within 20 new shopping centers and 8 mall expansions, a recent JLL report said. Another 11 percent of retail space currently in the pipeline corresponds to retail parks and 2 percent to one outlet center under construction.

Small and medium-sized malls constitute 98 percent of all retail space under construction. Some of the biggest projects being built include Sukcesja in d (45,000 sqm), Galeria Warmiska in Olsztyn (41,500 sqm) and Tarasy Zamkowe in Lublin (38,000 sqm).

Most of the new stock will be delivered in eastern and north-eastern voivodships and in the dzkie voivodship, as well as in small cities with population below 100,000.

Polands retail map is developing increasingly evenly, with locations that were previously less active expanding their offer, said Anna Wysocka, head of retail agency at JLL.

In Q1 2014 three new shopping malls were completed, totaling 140,500 sqm: Atrium Felicity on Lublin, Galeria Amber in Kalisz and Galeria Siedlce in Siedlce. Altogether Polands shopping malls feature 8.6 million sqm of retail space.

Shopping mall saturation level has reached 224 sqm per 1,000 people, which is above European average of 191 sqm per 1,000 people.

Polish retail market also has 1.3 million sqm in retail parks, 1.87 million sqm in stand-alone schemes and 163,000 sqm within outlet centers.

The segment that is seeing the most activity is convenience, that is small schemes both shopping centers and retail parks with a balanced offer, mainly being built in smaller cities, with unsaturated and promising markets. This trend is supported by the fact that 42 percent of shopping malls and 87 percent of retail parks currently under construction are located in cities with population below 100,000, Wysocka added.

Vacancy stood at 3.2 percent at the end of 2013, 0.6 percentage point higher than a year earlier.

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500,000 sqm of retail space in the pipeline, mainly in eastern Poland - JLL

Changing Medical Economics Prompting Caregivers to Offer Services Where Patients Shop

Were seeing a lot of strip centers being converted to medical offices of various sizes, if a dollar store or grovery store goes out," Robert Moon, vice president, brokerage services, for Farmington Hills, MI-based Friedman Integrated Real Estate Solutions, tells CoStar News. "New MOBs can cost upwards of $200 a foot to development -- those are big numbers. Existing space at a retail center will be substantrially less than that, so theres a big incentive to take that space rather than building from the ground up."

Stores left vacant by the demise of big-box retailers and struggling strip centers are turning out to be reasonably priced options for many health care facilities which are increasingly moving away from the centralized service delivery model centered on a traditional hospital campus and trending toward mixed-use properties where medical office buildings (MOBs) and retail stores and restaurants co-exist, according to Laura Lee Garrett, a partner with Hirschler Fleischer in Richmond, VA, and member of the firms real estate and retail practice group.

One of the latest examples of that trend was last months announced joint venture between Cornerstone Development Partners and Stein Investment Group to develop a $65 million mixed-use complex on four parcels that include a blighted strip center property at Collier and Peachtree Road in Atlanta.

The Cornerstone Medical Center will consist of 145,000 square feet of medical office space across from Piedmont Hospital and 16,000 square feet of street level retail and restaurants. Chick-fil-A has already agreed to a lease on the ground floor of the seven story building slated to break ground this summer and be completed in 2015.

"The catalyst for this project was the medical community's current demand for efficient, 21st century medical space. There's very little medical office space left in the area immediately surrounding Piedmont Hospital," said Jason Linscott, principal at Stein Investment Group.

Retail properties increasingly are being repurposed for medical uses as providers look to move closer to patients and reduce costs by providing outpatient services in non-acute settings, said Colliers National Office Research Manager Andrea Cross, who authored the global brokerage firm's recent 2014 outlook for medical office space.

"High retail vacancy, particularly in the suburbs, due to overbuilding prior to the recession and housing crisis, and increasing online retail sales have created opportunities for health care tenants," Cross said.

Well-located big box properties in the 20,000-to-50,000 square-foot range with ample parking, such as those occupied by defunct tenants like Borders, Circuit City and Linens n Things, have been an especially popular draw for many medical tenants.

In one such project, construction will start this spring on a conversion project by St. John Health System to turn a 20,000-square-foot former Borders bookstore in Grosse Pointe, MI, into medical office and retail space. The medical office will occupy one end of a large building, which was also vacated by Ace Hardware.

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Just What the Doctor Ordered: New 'Medtail Tenants Filling Vacant Shopping Center Space

Four-story building with retail space set for corner of Carlisle and Oxford streets.

by Marcus McCarthy 08 April 2014

The former West Pagoda Chinese takeout on the corner of Carlisle and Oxford streets was torn down during spring break to make way for a four story apartment complex with retail space.

The building will include 12 apartments and a balcony on the fourth floor with the plans showing the building rising roughly 10 feet taller than neighboring buildings, according to the City of Philadelphia. Additionally, the first floor is to be retail space.

On Aug. 21, 2013, an appeal by Michael Mattioni, a local real estate, estate planning, corporate and taxation lawyer, was approved by the Philadelphia Zoning Board of Appeals in order to construct the building, which is planned to be much taller than the one floor West Pagoda building that preceded it.

The property was bought in December for $250,000 by J.B. Richards Construction, LLC, a company with offices in Northeast Philadelphia, according to property records. The propertys 2013 estimated market value, prior to the new construction, was $30,000.

The owner of the property is Huang Hui Qiu and the licensed contractor is CRP Builders 2 LLC, according to a building permit posted at the construction site and approved by the Department of Licenses and Inspections on March 13.

Neither Qiu nor the overseeing inspector from Philadelphia L&I returned multiple calls for comment.

The architecture firm that designed the building is Harman Deutsch, which has offices located on the 600 block of 12th street.

Additionally, an attached structure is planned to be constructed adjacent to the building. This attached structure will be three stories with apartments in each of the floors including the basement, according to the City of Philadelphia website.

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Housing complex planned for West Pagoda

Geddes, N.Y. The new building going up at the Western Lights Plaza on Onondaga Boulevard will be home to a Mavis Discount Tire location.

The Mavis store should open in May or June, said Jim Kempner, a principal at The Kempner Corp., which owns Western Lights.

The new building, at more than 5,000 square feet, is under construction toward the back of plaza, adjacent to Little Caesars.

That section of the plaza also has Price Chopper. Other stores nearby include Chat Wireless and Sally Beauty.

Mavis has stores throughout New York, including a number of locations in the Syracuse area. It acquired the Cole Muffler chain six years ago.

The company has clashed with the town of DeWitt over some planned renovations to a Cole location on Erie Boulevard.

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Construction underway at Western Lights Plaza on new retail space