Third & Urban, a real estate development and investment firm, has purchased four warehouse buildings with three more set to close by the end of the year in the up-and-coming Armour/Ottley industrial area adjacent to SweetWater Brewing Company and American Spirit Works.
Through assemblage of the seven warehouse buildings, Third & Urban will create a mixed-use development with office space, restaurants, a coffee shop and entertainment options.
The 275,000 square feet of warehouse buildings were chosen for their access to I-85, Piedmont Park, future Atlanta BeltLine and Path 400 trail access and their proximity to Buckhead and Midtown. The $70 million redevelopment, called Armour Yards is scheduled for completion by mid-2016. The development will be part of a community of businesses and organizations called the Sweetwater Design District.
“We’ve spent considerable time studying a lot of progressive office product in west coast markets over the past year—airy, approachable campuses in urban settings with a focus on community and quality of life,” says Pierce Lancaster of Third & Urban. “TAMI tenants (tech, advertising, media and information) have largely driven this shift, but we think the appeal is universal, and growing rapidly in the Southeastern U.S.”
Leasing for Armour Yards is being led by Jeff Bellamy, Brooke Dewey, and Liz Koteles of JLL. Gay Construction has been selected as general contractor for the first phase of development, with architecture by Smith Dalia Architects and Kronberg Wall.
For more information, visit armouryards.com.