Recent CRE News Round-Up from Lincoln Property Company Atlanta

Prospective Buyer Agrees to Development Restrictions at Underground Atlanta

 

As the sale of Underground Atlanta to South Carolina developer WRS Real Estate creeps along, the firm agreed last week to the city’s request to preserve historic buildings in the complex, while also promising not to bring in gambling or adult entertainment, according to The Atlanta Journal-Constitution (AJC). The downtown attraction has suffered ups, but mostly downs for decades and the process for the sale to WRS has stretched to four years.

Utility Considers Sale of Property in Old Fourth Ward

 

Ga. Power is about to see what it could get for some prime real estate it owns in the popular Old Fourth Ward area along the Atlanta beltline, according to the AJC. The utility’s operations center at 760 Ralph McGill Blvd. sits on 10 acres that touch both the Beltline and Historic Fourth Ward Park, making it hugely attractive to developers. “We plan to place the facility on the market this April to gauge interest, but we have not committed to selling the property,” Georgia Power spokeswoman Ashley West said in a statement.

 

Former Industrial Site Along Memorial Drive Targeted for Mixed-Use

 

The former Leggett & Platt mattress factory along rapidly transforming Memorial Drive has been slated for redevelopment into a mixed-use development to be named “Madison Yards,” according to Atlanta Curbed. Jeff Fuqua filed plans this month for the first phase of the project to bring residential, office, retail and dining to the 17-acre site near Interstate 20. The site is also near the Atlanta Beltline. An AMC theater and Publix supermarket will anchor the development, which will have 80,000 square feet of office space and more than 500 residences, according to the Atlanta Business Chronicle.

Small Mixed-use Project Going up in Roswell Historic District

 

A former auto repair shop at the corner of Woodstock Road and Canton Street in the Roswell historic district is being transformed into Vicker’s Village, a mixed-use project that combines “boutique collection of one, two and three bedroom residences for lease,” and 8,000 square feet of commercial space, according to the AJC. The project was first proposed in 2015 and drew some neighborhood opposition, but was ultimately approved by the city. Completion is expected this fall.