1. Amazon’s $13.7 billion deal to buy high-end grocer Whole Foods Market sent shockwaves through the retail universe. Given Amazon’s history of disruption, experts say, the blockbuster transaction over time could influence the way consumers in Atlanta and elsewhere buy meats, veggies and dry goods, whether they shop at a Whole Foods or not. A recent Atlanta Journal Constitution article features insight on what this deal means for local grocery stores from The Wilbert Group clients Revenue Analytics’ Jared Wiesel, North American Properties’ Mark Toro and Cooper Carry’s David Kitchens.
2. The penthouse of Wilbert client Emerson Buckhead tower is under contract for more than $6 million, making it one of the most expensive sales of an unfinished high-rise condo in the city’s history. This Atlanta Business Chronicle article details the 6,200-square-foot space, which will feature two stories, 24-foot ceilings, and a rooftop terrace with views of the Midtown and downtown skyline to the south, Buckhead’s and Cumberland’s office towers to the north, and the tree-canopied Atlanta neighborhoods of Peachtree Hills and Peachtree Battle.
3. More than a year after purchasing Wilbert client 7000 Central Park, CBRE Global Investors is endeavoring to transform the 18-story tower into a talent magnet. According to a Bisnow article, the firm is expected to add amenities, to the office building, a 424,000-square-foot tower in Central Perimeter. CBRE Global Investors is injecting $2.8M in a renovation campaign that will include a full-service fitness center, co-working and conference center space, an expanded café and an “outdoor living room” for tenants to gather.
4. The Coca-Cola Company recently sold an 88,000-square-foot data center in a joint venture with a client advised by Bailard, a California based investment advisory firm, who purchased the property. Wilbert client Lincoln Property Company Southeast, in conjunction with its data center division Lincoln Rackhouse, brokered the sale. You can read more about the deal in this Globe St article.
5. Business is booming at one of Atlanta’s tallest residential buildings. This Atlanta Business Chronicle article details recent success at Wilbert client The Atlantic, a 46-story tower overlooking Midtown from 17th Street and the Downtown Connector, which has recorded 20 closings this year, with another 18 units are under contract. Most Atlantic units are ranging from $300,000 to about $800,000 and the roughly 190 available units are on pace to sell out by the first quarter 2019, according to Christa Huffstickler, president and CEO of Engel & Volkers Atlanta.