Grand opening for 05 Buckhead
Coro Realty Advisors held the grand opening May 7 for its 05 Buckhead, which the company conceived as the first “white glove” rental apartment building in Atlanta.
The 155-unit high-rise at 3242 Peachtree Road, just south of Piedmont road,caters to residents seeking 24/7 services, a spacious living environment and many amenities. Leasing began in early February.
Patti Pearlberg, vice president and asset manager of Atlanta-based Coro Realty, said the 05 Buckhead concept was more than two years in the development phase.
“We wanted this residential project to set the benchmark for luxury rental communities in Atlanta, while addressing the desires of an affluent rental market,” she said.
Residents began moving into the 20-story building in April as the amenities and common areas were nearing completion.
Offering rental residences at $2 per square foot or better, 05 Buckhead provides on-site management, concierge services around the clock, limited key-card access to the garage, building and individual floors, and online access to management services, Pearlberg said. “It is our goal to continue to raise the bar for luxury rentals in Atlanta.”
Studio, one-, two- and three-bedroom apartments are available, as well as two-story penthouse residences, with rent beginning at $1,300 per month. The leasing center is open daily at the building.
For more information, visit www.05buckhead.com, or call 404-446-0505.
UPS to teach safety to teen drivers
The UPS Foundation, which is based in Sandy Springs, has given a three-year, $1.5 million grant to Boys & Girls Clubs of America to teach safe driving techniques.
UPS has more than 100,000 drivers who log more than 2.5 billion miles a year. They average more than 1 million miles driven per accident.
Based on the same safety training used with UPS drivers, the UPS Road Code program will help teens learn safe driving. It will be taught to about 1,200 teens this year in 10 U.S. cities, including Atlanta.
UPS Road Code provides teens with four sessions of classroom-based instruction and time in computerized driving simulators. About 150 UPS employees will serve as trained volunteer instructors for the program.
Teens, parents and others interested in learning more about safe driving and UPS Road Code can visit www.ups.com/roadcode.
Rock Bottom to become Gordon Biersch
The Rock Bottom Brewing Co. restaurant and brewpub at 3242 Peachtree Road in Buckhead will become a Gordon Biersch brewpub in mid-July, according to the Gordon Biersch Brewery Restaurant Group of Chattanooga, Tenn.
Rock Bottom reportedly has done well since opening at Peachtree and Piedmont roads in 1997, but business dropped off during construction of Coro Realty’s 05 Buckhead apartment tower in front of the restaurant.
Gordon Biersch is a growth concept, and the company decided this was the time to put money into remodeling the facility and to put the growth brand into the Buckhead market. The $1.6 million renovation of the restaurant space will include new brewing tanks, a larger bar, a new patio area and new flat-screen televisions. The billiard tables will remain.
Buckhead becomes the second Atlanta location for Gordon Biersch, which opened in Midtown in 1999.
Simon Property plans $1 billion offering
Simon Property Group Inc., which owns Phipps Plaza and Lenox Square in Buckhead, plans to raise as much as $1 billion in a secondary stock offering.
Simon Property will use the net proceeds from the offering for general corporate purposes, which could include acquisitions.
The Indianapolis-based company has priced 20 million shares of stock at $50 each.
Simon is seen as a likely bidder for some of General Growth Properties’ holdings. General Growth, which filed for bankruptcy protection in April, is the third-largest owner of retail space in Atlanta with 5 million square feet.
Simon Property owns or holds a stake in nearly 400 malls and other retail properties. It has eight properties in metro Atlanta: Lenox Square, Phipps Plaza, Mall of Georgia, The Mall of Georgia Crossing, Gwinnett Place Mall, Town Center at Cobb, Northlake Mall and Discover Mills.
GVA Advantis moves offices to The Pinnacle
Real estate services firm GVA Advantis recently moved its Atlanta office from Two Live Oak Center to The Pinnacle in the heart of Buckhead. The company is taking about the same space it previously occupied, 10,300 square feet.
Advantis is subleasing office space in The Pinnacle from Integro Ltd. for a term of four years.
Essentially, Advantis was able to upgrade its space without substantially increasing its rent.
Both Live Oak Center and The Pinnacle are owned by TIAA-CREF and are leased and managed by Cousins Properties.