Parkmobile to move headquarters to Midtown Atlanta

1100 Spring Street Midtown AtlantaParkmobile LLC will relocate its corporate headquarters from the Cumberland/Galleria area to Midtown Atlanta’s 1100 Spring Street in October. you might recognize this building tucked between Williams Street/The Downtown Connector and Spring Street. ( I did have to Google Map the address to know exactly which building this was!) It’s primary tenant (and I believe owner of the building) is Selig Enterprises. And you know them for developing such Midtown buildings as Plaza Midtown, 77 12th Street Apartments(and the sister building 60 11th Street–currently under construction) and 1010 Midtown.

Parkmobile to move headquarters to Midtown Atlanta

ParkmobileParkmobile, LLC is the leading provider for on-demand and prepaid mobile payments for on- and off-street parking. Their services are used in more than 600 locations in the U.S. by millions of registered users. Parkmobile’s investors include Fontinalis Partners, Parkmobile Group, Bluefield Investments, BCD Group, BMW Group, SP+ Corporation and Urban Mobility. Fontinalis Partners, with offices in Detroit and Boston, is a venture capital firm strategically focused on Next-Generation Mobility.  With annual global revenues of $24 billion, including $9.2 billion partner sales, BCD Group is an international market leader in corporate and online travel, off-airport parking and the mobile parking industry.

“Atlanta is now our ‘flagship’ location and the goal is to make it a model for mobility technology around the world,”Cherie Fuzzell, CEO of Parkmobile, said in a statement.

Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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How Is The Atlanta Real Estate Market?

Atlanta Real Estate Market May 5, 2015Ah yes.

When you are a real estate broker, if it’s not the first question you are asked in any conversation, it will certainly be the second one….

How Is The Atlanta Real Estate Market?

I think I could safely say “It’s on FIRE!” and be pretty accurate. But take a look at some numbers that recently appeared in an article in the Atlanta Business Chronicle to give that statement further fuel.

In March, 2015:

  • Average Sale Price: $245,000*
  • Average Days on Market: 52*
  • Months of Inventory: 3.1*

A stable market is about 6 months of inventory…with this kind of Inventory, this is truly a SELLER’s market! Just ask any BUYER that tries to make an offer on a Midtown Atlanta condo…if they even get their offer in!

So let’s go back in time….to 2010…

 

  • February 2010 Average Sale Price: $180,000*
  • February 2010 Average Days on Market: 88*
  • February 2010 Months of Inventory: 18.7*

Yeah…just LOOK at that inventory….if you were a Buyer then…you had some homes and condos to look at for sure! But it did not stop there, by August, 2011, the average Sales Price in Metro Atlanta was a mere $135,000!!!

Here is another sign of the Atlanta Real Estate market rebound. I just sold a Midtown Atlanta condo to parents of a student at Georgia Tech. The Seller paid $78,000 in 2012 and we just paid $133,000! That’s a nice $55,000 profit in less than three years!!!

But the challenge we now face, especially in the Midtown Atlanta condo market is a lack of new construction. All those cranes you see dotting the skyline are for apartment buildings…RENTALS!!! The only new condo construction in Midtown, is currently starting in the mid to upper $700,000 range. Those are not prices for every condo buyer!

I’ve got several buyers right now in the waiting mode, and watching inventory daily for them! Looking for that right one to hit the market!

How Is The Atlanta Real Estate Market? Yeah…it’s on fire alright!

*Based on stats for residential attached properties in Atlanta North, Sandy Springs, West Cobb and Dekalb West in all price ranges as reported by FMLS on April 3, 2015, for the period of Feb. 1, 2007-Feb. 28, 2015.

 

Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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Midtown Alliance Schedules Blueprint 3.0 Open Houses

Midtown Blueprint 3.0 MyMidtownMojo.com april 16, 2015It’s been awhile since the original Blueprint Midtown was conceived. What you see today in Midtown Atlanta, from new condominium buildings built over the last 10 years, streetscape improvements and such, are a result of that plan.

Midtown Alliance Schedules Blueprint 3.0 Open Houses

But as we know, all good plans need a review and an update to keep up with the changing times we ALL are experiencing. And so, the Midtown Alliance has announced a series of Open Houses to seek the input of Midtown residents, workers, employers and community stakeholders about what they want to see in the future of Midtown Atlanta.

As I know it, there will be some suggestion boards with ideas already on them, and you will be given an opportunity to “voice” your opinion about these potential projects. This is a great way to really gauge the public’s  thoughts about projects and the future.

Here are the upcoming Open House dates:

  • Blueprint 3.0: Input Session at Food Truck Thursdays 
  • Thursday, April 23 at 11:30 a.m. | Food Truck Park at 12th Street & Peachtree Street
  • Blueprint 3.0: Input Session & Happy Hour 
    Wednesday, April 29 at 5:00 p.m. | Saltwood- Loews Atlanta Hotel Midtown / 1065 Peachtree Street
  • Blueprint 3.0 Input Session & Coffee 
    Wednesday, May 6 at 8:00 a.m. | 800 Peachtree St., Suite D

You can RSVP (not required, but they would like to have an idea of the number coming!) HERE

 

Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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Boeing Considers Midtown Atlanta for Research Center

AirplaneSources are reporting that aerospace big guy Boeing is scouting Midtown Atlanta locations for a research center. If the center happens, it would join other top companies such as AT&T, Home Depot, NCR and Worldpay US in developing corporate research centers near one of the world’s top engineering schools.

The increase and of new research and development centers and corporate campuses in Midtown Atlanta clearly show the desire of companies to be convenient to the talent pool called Georgia Tech! Of course, for Tech, the establishment of these centers is a perfect pipeline of jobs for graduates as well as the all mighty private sector research dollars for the university at a time when federal research money is harder to find.

No idea as to where the center could be located, but certainly MyMidtownMojo and Thomas Ramon Realty are here to help any Boeing employees that may relocate to the area, and certainly any new hires that are looking to call Midtown Atlanta home.

Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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Whole Foods Considers 14th Street Location in Midtown Atlanta

Whole Foods 14th West Peachtree Midtown AtlantaIt looks like a much needed grocery store could appear in Midtown Atlanta…mind you not until 2018!!!!

Whole Foods Market, based in Austin, TX is in talks with The Related Group for a 60,000 sq. ft “urban store” on the site of their proposed 400-unit apartment building at 14th and West Peachtree Streets. The store would anchor Related’s planned project which might include two towers built in phases. The “urban store” format indicates that the store would be on several levels, versus all one level as is common with grocery stores. If you want a cool idea of what this could be like, just venture to Columbus Circle in New York City!

Whole Foods has one store in Midtown, although it’s on the fringe at Midtown Place across from the Ponce City Market on Ponce De Leon Avenue. This location would be somewhat more walkable for people in such Midtown Atlanta condo buildings as 1010Midtown, Peachtree Walk and even a Publix alternative to those in Plaza Midtown, where there is currently a Publix market. Get much further away and you’ll probably see Midtown peeps in their autos…so look for a parking garage! (Will they figure out how to mask it by the time they build this one? Who knows?)

Novare 14th Street Apartment BuildingBack in May, 2014, the Atlanta Business Chronicle (ABC) reported that the Related Group had the 2.2 acre site under contract. There are currently two surface parking lots there. At that same time, the ABC article made comment about the ever growing pipeline of apartments on tap for Midtown Atlanta. Of concern is too many of the units hitting the market at once, according to analysts such as Haddow & Co. To many at one time That’s could begin to soften intown rents, which today are well above $2 a square foot at the newest projects.

Keep in mind, this site is just across the street from the new Novare building, at 13th and West Peachtree. So keep your eyes open for yet another apartment crane on the Midtown Atlanta horizon.

 

Thom Abbott

I'm a real estate broker living and selling the Midtown Atlanta lifestyle. From high rise condominiums to historic homes, I enjoy everything Midtown Atlanta has to offer. I'll help you find the right home in Midtown Atlanta or any of the other exciting Intown Atlanta communities that border the Midtown Area!

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