CarterBlog

Carter Welcomes Cassidy Turley to Atlanta (video)

ATLANTA (Sept. 8, 2011) - More than 1,000 people turned out to help Carter welcome Cassidy Turley to Atlanta. Here is the video of the official announcement given by Carter Chairman/CEO Bob Peterson and Cassidy Turley Chairman Wally Pinkard.

 

Free Food Truck Lunch and Celebration

ATLANTA (Sept. 2, 2011) - Who said there’s no such thing as a free lunch? On Tuesday, Sept. 6, Carter will host a free food truck lunch at Atlantic Station from 11:30 a.m. to 1:30 p.m.  At noon, the companies will make a surprise announcement you won’t want to miss.

Want to be a part of the action? All you have to do is “Like” Carter on Facebook or follow us on Twitter @carterUSA, If you do one (or ideally both), you can enjoy a free lunch from Hail Caesar, Slider U, Sweet Auburn BBQ, Tamale Queen or The Marlay House.  King of Pops will also be there handing out sweet treats!

Bring your friends, family and colleagues. There will be live entertainment, and we are looking forward to having a great time. The event is on rain or shine, but make sure you get there early while supplies last!

We look forward to seeing you next week!

Arnall Golden Gregory Extends Lease 10 Years at 171 17th Street

ATLANTA (July 15, 2011) - The law firm Arnall Golden Gregory LLP has agreed to extend its lease 10 years at 171 17^th Street in Atlantic Station in a deal that allows for continued growth. 

The firm will reconfigure its space to increase efficiencies and provide additional capacity to grow to 190 attorneys in Atlanta. The firm also has an office in Washington, D.C.

Arnall Golden Gregory, which has served growing public and private companies for more than 60 years, is one of the original tenants at 171 17^th Street, the first office tower to open at the pioneering Atlantic Station mixed-use development in Midtown Atlanta.

The firm remains committed to its current space because of the building’s quality, accessibility and convenience, and its prominent location. The 21-story building has become a landmark for the thousands of people who travel daily through the heart of the city.

Midtown is the center of Atlanta’s legal community, and by extending its lease, Arnall Golden Gregory reaffirms its loyalty to the area.

“Arnall Golden Gregory is one of the original anchor tenants at 171 17^th Street, and the building ownership is quite pleased the firm extended its commitment to the tower,” said Carter Executive Vice President Mike Shelly, who represented the landlord. “Arnall Golden Gregory is precisely the caliber of tenant we seek at 171 17^th Street.”

Brad Armstrong and David Demarest of Jones Lang LaSalle represented Arnall Golden Gregory in the transaction.

About Arnall Golden Gregory:

 Arnall Golden Gregory LLP is a mid-size law firm in Atlanta and Washington, D.C., that serves the business needs of growing public and private companies. Through mergers and acquisitions, capital markets financing, strategic alliances, joint ventures, regulatory compliance, litigation and other business-related guidance, the firm helps clients across a broad range of industries turn legal challenges into business opportunities.

 

Carter’s PFM Team Announces Two Promotions

By Holly Hughes, executive vice president and chief administrative officer, Carter

ATLANTA (June 8, 2011) - Carter’s property and facility management team is pleased to announce the promotions of John Borowski and Caty Clements.

John has been promoted to general manager of UPS Supply Chain Solutions, Chatham Centre and Plantation Pipeline in Atlanta, Ga. John has been with Carter for seven years and continues to demonstrate his managerial and customer service skills. John worked on Carter’s AT&T account and transferred to Atlantic Station in 2008. Since his move, John has been working as an assistant building manager. John has played an instrumental role in receiving high ratings on property and overall customer satisfaction.

Caty has been promoted to property manager. In this new role she will oversee the 171 17^th St. and 201 17^th St. building in Atlantic Station, the Boys and Girls Clubs of America Headquarters at 1275 Peachtree St. and a King & Spalding facility at 1230 West Peachtree St. Before joining Carter, Caty worked with real estate law firms in both Atlanta and Savannah while completing her degree at University of Georgia. Caty joined Carter on the 1100 Peachtree account in 2008 and then moved to Atlantic Station. Caty’s success can be attributed to her ability to develop and maintain relationships with landlords, tenants and vendors.

Carter would like to congratulate both John and Caty on their well-deserved promotions!

 

Carter Goes Beyond Green with Environmental Optimization

By: Jonathon Barge, vice president at Carter

At today’s Bisnow Sustainability Summit, I had the opportunity to speak on the panel regarding Carter’s environmental optimization efforts. We all want to reduce operating costs and make our buildings as efficient as possible, but it is also critical for us to make the office a healthy place to spend time as well as a place that teaches and promotes sustainable practices. Watch the video for a clip of the panel discussion and read my expanded thoughts on the topic below. 

It is also important to know about how a building or project can become more sustainable.  However, in reality, not all buildings can qualify for Energy Star or be LEED certified. At Carter we have a process in our efforts to “Go Beyond Green.” We practice Environmental Optimization, or, making the best out of the current circumstance. If a new project or existing building is not able to pursue formal certification we work through a process with goals to reduce energy and water use, make smart purchase decisions, reduce waste, create a healthy work environment and create opportunities to teach building occupants the impact of those improvements. The most important aspect being that we simply do something. Even if it is something small, it is still an improvement towards making a project more sustainable.

For example, with regards to energy-and-water-use reduction, the first thing needed is data. We start by gathering historical usage data. The Energy Star portfolio manager is a great place to track and compare data. Gathering meter data and comparing it to data from similar projects helps building teams to develop efficiency improvements. This enables a project to document measurable success.

In addition to Energy Star there are other programs aimed at reducing energy-use like BOMA’s Seven Point Challenge and BOMA 360, which recognizes high performance buildings. All three office towers managed by Carter in Atlantic Station have achieved this designation. 

We all have choices when it comes to which products to buy in day-to-day building operations. Today there are numerous products available that are better for the environment than others and many are competitively priced. To improve the environmental impact of building consumables, I would recommend an analysis of purchases in order to find ways to make better selections and use less, if possible. The LEED for Existing Buildings guidelines are a great resource as owners research sustainable options in their ongoing consumables. The use of greener consumables also supports the goal of a healthier work environment.

In addition to looking at what is being brought into the building it is also important to remember what is leaving the building. Diverting trash that can be recycled into recycling streams instead of going to the landfill is a simple way to make a significant impact. Successful recycling programs give tenants multiple opportunities to recycle and provide constant reminders to occupants to follow the program.  It is also a good idea to report on the progress and benefits. That is a teaching opportunity which encourages and promotes additional sustainable support. At 171 17th Street in Atlantic Station, more than 60 percent of our waste is recycled, and through waste audits we have found that there is still room for improvement. 

Jonathon Barge provides a highly technical perspective to projects by drawing from his Mechanical Engineering design background and complex, large-scale construction experience. With over 13 years of experience in design and project management, Jonathon can understand and overcome daily field issues to keep projects moving towards successful completion. He has consistently completed challenging projects while protecting owners interests with an organized and detailed project management approach.

Young Council of Realtors Bus Tour

By: Charles Holloway Jr. SIOR, senior vice president for Carter

On Wednesday, Nov. 3 the Young Council of Realtors hosted a free bus tour of west Midtown which focused on past and present developments which have transformed the West Side into a thriving business district.

The tour started at White Provision office development on 1100 Howell Mill Rd and made stops at King Plow Arts Center, 1235 Chattahoochee Ave, Piedmont West, Atlantic Station and ended back at White Provision. The group then headed to Ormsby’s for happy hour.

I served as a moderator on one of the two buses for the tour along with Joseph Rogers of Wilson, Hull & Neal, where both of us discussed new business service development and mixed-use development over the past five years as well as the general status of the “West Town” and “Old Chattahoochee” markets.

On our third stop, Piedmont West, the group was met by Carter’s Glenn Kolker who gave us more information about the 2-year-old building.  The U.S. Environmental Protection Agency (EPA) presented the medical office building with a 2010 ENERGY STAR award in recognition of its commitment to protecting the environment through energy efficiency and management. Piedmont West is the only multi-tenant medical office building in the state of Georgia at this time to receive the ENERGY STAR label. To see pictures from this stop, view the photo album on Carter's Facebook page.

Mike Shelly of Carter gave us a tour of the 271 17^th Street building and a general overview of Atlantic Station including occupancy through the present. Carter leases and manages the three office buildings in Atlantic Station. The participants seemed to enjoy viewing as well as the status reports of recent projects such as White Provision, King Plough, Brick Works and Selig’s holdings in “old Chattahoochee” and Atlantic Station. I think some of the participants found it amusing and amazing when I pointed out a few buildings that I have leased five or six times and sold two or three times over the years.

Charles Holloway joined Carter in 1970, when it was known as Pope & Carter, and recently celebrated his 40th year as a leader in the industrial sales and leasing division. Charles also focuses on income producing-properties and investment sales, and provides tenant representation services to some of the nation’s top industrial space users. He received both Phoenix Awards from the Atlanta Commercial Board of Realtors in 1985 and 2000, and was a top 10 industrial producer in 2003 as chosen by the Atlanta Commercial Board. Charles has received Broker of the Year Awards from Prologis Trust in 1999 and 2003, the prestigious Dealmakers Award from Heitman Properties in 1995 and Carter’s Outstanding Lease Transaction Award in 1983 and 1987.  Charles is a 32 year member of The Society of Office  & Industrial Realtors.

The Condo Market: What Happens When the Bust Settles

By: John Akin, senior vice president, Carter

In 2005 and 2006, condominiums grabbed real estate headlines across the Southeast with their ever-expanding development. Touting new urbanism design and trends of reverse migration to our cities’ cores, developers scrambled to meet housing demand with newer, bigger and better condominiums.

Unfortunately, the long development timeline, combined with an untimely recession of epic proportion driven by the housing boom led to a bust for most condos started after 2006.

The trends that served as the foundation for would-be condo-dwellers are still alive and well; it's mainly the market prices that have suffered. This set of circumstances presents an excellent opportunity for investment in distressed projects. Fresh capital is flowing into deals across the country, particularly in the southeast, where development was prevalent with investors buying projects at a fraction of their replacement cost. The new investors are typically using one of two strategies: turning the condos into apartments for the cash flow or, re-pricing the condos and proceeding with a sellout.

With developers resigned to the loss of equity on their projects, new investors setting realistic return requirements, and banks starting to get real about the actual value of their debt in these projects, the market has really accelerated its transaction pace. One example of this new activity in the condo market occurred in August, when The Atlanta Journal-Constitution reported ST Residential would resume sales at The Atlantic in Atlantic Station (pictured here), and The Brookwood in south Buckhead.

Carter is also active in this arena, having acquired City Federal in Birmingham. The iconic building has a vertical stretch of 325 feet making it the tallest residential structure in Alabama. We are pleased to expand our investment in condo turn-around opportunities with the acquisition of this landmark.

John Akin is a founding principal of Carter's advisory services group where he serves as Senior Vice President. In this role, he provides strategic real estate advisory services to Carter clients across a variety of disciplines. Prior to joining Carter, John was Senior Vice President of Development and Investments at Novare Group for five years. While there, he successfully led the development and acquisition of more than $850 million worth of mixed use projects including 2,000 for sale condominium units, 700,000 square feet of office, 200,000 square feet of urban retail and a boutique hotel.

Largest Wells Fargo Sign Goes Up

By: Jonathon Barge, vice president at Carter

Over the weekend, a helicopter crew from Michigan replaced the familiar Wachovia signs at 171 17th Street in Atlantic Station with Wells Fargo signs that are the largest Wells signs on an office building anywhere. The two large red-and-yellow Wells Fargo signs were installed letter-by-letter on the 22-story building. Wells Fargo will permanently light the signs in a ceremony at 8 p.m. Oct. 26 to mark the occasion.

Wells Fargo, which acquired Wachovia in late 2008, is the largest tenant at Atlantic Station.
The two sets of 10 letters spelling Wells Fargo are 11 feet tall and 128 feet long and made of aluminum, steel and polycarbonate. The letters were fabricated in Virginia Beach, Va., and arrived Friday on seven semi trucks. The logo directly facing the interstate is 27 feet high and 29 feet wide. The signs weigh 17 tons in all with 22,543 LED lights that use 75 percent less energy than standard light bulbs. 

The office tower at 171 17th Street, managed by Carter, was the first LEED Silver-Core & Shell certified high-rise office building in the world and the first high-rise office building in Georgia to receive any LEED certification by the U.S. Green Building Council. Carter has played a key role at the Atlantic Station mixed-use development, where we moved our headquarters five years ago. In addition to managing 171 17th Street, Carter also manages the 201 17th Street and 271 17th Street office towers and provides leasing for all three buildings . Carter also project managed the development of the 201 and 271 office towers and the Town Center open-air retail component.

Wells Fargo says the signs are a symbol of the bank’s commitment to Midtown and the overall Atlanta market.

Jonathon Barge provides a highly technical perspective to projects by drawing from his Mechanical Engineering design background and complex, large-scale construction experience. With over 13 years of experience in design and project management, Jonathon can understand and overcome daily field issues to keep projects moving towards successful completion. He has consistently completed challenging projects while protecting owners’ interests with an organized and detailed project management approach.

Wachovia Sign Comes Down

By: Joel Ward, chief engineer, Carter

Over the weekend, the huge block letters of the Wachovia sign came off the 171 17th Street office tower in Atlantic Station, Carter’s headquarters. 

For those of you who missed the sign being removed Saturday morning, it was quite a sight to watch the helicopters taking down the letters one by one.

Wells Fargo acquired Wachovia in late 2008 and has been working to rebrand Wachovia branches and buildings under the Wells Fargo name. The bank has put up “Wells Fargo” signs at local branches, but they remain covered by temporary “Wachovia” signs.

Wells Fargo spokesperson Jay Lawrence told the Atlanta Journal-Constitution the new sign will be the largest on any Wells Fargo building in the country.

For now, the building will remain sign-less until the new red-and-gold Wells Fargo sign is installed Oct. 16-17. 

The official lighting ceremony will take place on the evening of Oct. 26.

Atlantic Station's Tallest Tower Comes to Life

By Tony Wilbert, Wilbert News Strategies

ATLANTA (Aug. 5, 2010) - It was nice to pick up today's Atlanta Journal-Constitution and read some good news about The Atlantic, the 46-story condo tower Novare Group developed at Atlantic Station.

The article by residential reporter Michelle Shaw and finance reporter Scott Trubey says ST Residential, a Starwood Capital Group-led asset manager, will begin selling condos at The Atlantic, The Brookwood in south Buckhead and Serrano in Sandy Springs. The Atlantic, located on 17th Street - Atlantic Station's main thoroughfare - has stood dormant for more than a year.

News of The Atlantic's resurrection is good for Atlantic Station retailers and restaurants. They will benefit from the additional residents who will shop and eat at the station. It's also good for owners of the office towers and the tenants that were attracted to Atlantic Station by the project's vibrant atmosphere.

ST Residential tells the AJC it will have a grand opening for The Atlantic, The Brookwood and Serrano on Aug. 26. "This is a relaunch of several well-known properties and an introduction to who ST is," ST Residential CEO Wade Hundley told the paper. 

ST Residential continues to work on pricing for the units, but Hundley said it would be "competitive in the current market."