John Heagy, Senior Managing Director of Hines, and President-Elect of the Atlanta Commercial Board of REALTORS, moderated a top tier panel this morning focused on the re-urbanization revolution happening in Atlanta and how this evolution will affect the City of Atlanta as well as our suburban markets. Our panelists included Chris Ahrenkiel, Executive Vice President of Selig Enterprises, Huston Green, Senior Vice President and Principal of Colliers International, Kyle Jenks, Founding Principal, Parkside Properties, and Katharine Kelley, Executive Vice President, Newport US RE.
Ms. Kelley spoke on the different interpretations of adaptive reuse and how we have moved from the tall, glossy office towers to a more creative, edgier community that weaves together music, art, and our changing demographics. As a native Atlantan, Ms. Kelley expressed her enthusiasm for how Newport US RE plans to transform downtown Atlanta, specifically a historic 8-block area which serve as the center of a $500 million project, encompassing the re-purposing of 50 buildings - most of which had been long abandoned.
Mr. Jenks has completed more than 40 projects in the past 15 years, and truly has reimagined and reinvigorated the city of Chamblee. Starting in 2007, when his team bought their first building, Parkside Properties has been a leader in blending together key factors that result in an enhanced lifestyle and help to build community. When Chamblee first started allowing new multifamily development to happen, the city began a new development era which still maintains a healthy forecast for the future.
Another prime example of adaptive reuse is Selig Enterprises’ 80-acre Upper Westside project - The Works at Chattahoochee. Selig actually bought a small portion of this site back in 1955, and developed four industrial buildings. But five years ago and 75 more acres later, the late Scott Selig was the visionary behind the development of this multi-faceted project. Mr. Ahrenkiel spoke on the importance of working with the CID to engage and interact more with the community. He also discussed the merits of adaptive reuse and the ability to reinvent yourself relatively quickly as opposed to new ground up development.
As a institutional investment specialist, Mr. Green added his perception of the tremendous maturation that has taken place just throughout the past five years in this market. Very large institutional funds, as well as “well-heeled” private capital are both financing a range of different projects, in an effort to attract young, dynamic talent to developments that are authentic and amenitized. Tenant improvement costs are usually lower over the long term, while pricing is on par with major Midtown Class A office towers.
As Hines recently unveiled their innovative T3 Midtown project which evokes an “industrial soul” vibe, it will be interesting to chart the progress of both new and adaptive reuse projects as they inspire our workforce and transform Atlanta.
If you were not able to attend this morning’s seminar, please make plans to join us for our September 12th Education program on What’s Driving Commercial Real Estate. This will be the second of our 4-part CE program, and you’ll need to attend 3 out of 4 programs to receive 3-hours of CE credit. We look forward to seeing you then!
The ACBR would like to thank our Education Sponsors for their support of this programming:
Avison Young :: CBRE :: Colliers International :: Commercial Experts, Inc.
Cushman & Wakefield :: First Colony Financial Group :: JLL ::
Newmark Knight Frank
Richard Bowers & Co. :: Scotland Wright Associates ::
SK Commercial Realty LLC :: Wilson Hull & Neal
We wouild also like to thank our Annual Sponsors:
Atlanta Business Chronicle :: Business Environments :: Georgia Power
Moderator & Program Coordinator
- Time: 7:30 am, Continental Breakfast & Networking
8:00 am - 9:00 am, Program
- Location: The Atlanta REALTORS® Center
5784 Lake Forrest Drive, Atlanta, GA 30328
- This is a one hour session for this individual session CE does not apply unless taken part of the 2018 State of the Market Series. To register for the series, click here.
- Free to ACBR members; $45 for non-members.
- Please note: Non-members must be accompanied by a current ACBR member.
- Click here to register »
As Executive Vice President of Commercial Leasing and Office Development, Ahrenkiel is responsible for activating office developments on many of Selig’s prime land holdings across Atlanta. Mr. Ahrenkiel came to Selig in 2018, after 11 years with Tishman Speyer, where he was the Atlanta Managing Director, overseeing the firm’s activities in the region. Most recently, he was responsible for the development, leasing and sale of Three Alliance Center, a +500,000 SF trophy office development which set an Atlanta pricing record, trading for $534/SF. Prior to that, Mr. Ahrenkiel led the leasing for Two Alliance, Colony Square, Midtown Plaza, Interstate North and Palisades. Mr. Ahrenkiel started his commercial real estate career at Trizec Properties.
Ahrenkiel is very involved in the community, serving on the Board of Directors of InvestAtlanta, the Metro Atlanta Chamber of Commerce, and the Atlanta Commercial Board of Realtors. In 2017, Ahrenkiel graduated Leadership Atlanta and remains actively involved. In 2015, he was named as one of Atlanta’s 40 under 40 by the Atlanta Business Chronicle, and is consistently recognized by the publication as a Who’s Who in Commercial Real Estate as well as a Top Producer.
Previously, Mr. Ahrenkiel served on the Board of REGA (Real Estate Group of Atlanta), Georgia Institute of Real Estate, Georgia State University Real Estate Alumni Board and was a co-founder of NAIOP Future Leaders (NFL).
Mr. Ahrenkiel graduated with a B.B.A. from the University of Georgia (1998) and with an M.B.A. with a concentration in Commercial Real Estate from Georgia State University (2003). When not working or volunteering, Mr. Ahrenkiel enjoys spending time with his two sons, Byrne and Porter.
Mr. Green has over 15 years of experience in the commercial real estate industry having worked on over $1 Billion in transactions with a primary focus on investment sales and capital markets. After starting his career with Trammell Crow focused on tenant representation and leasing services, Mr. Green joined a team within Trammell Crow focused on retail investment sales in the Carolinas., Mr. Green has since held various positions at GVA Advantis and DTZ Rockwood focused on investment sales and capitalizations. In 2009, Mr. Green joined Colliers' Atlanta office to focus on office investment sales, and in 2010, Mr. Green became a partner with the Atlanta Office Investment Sales Team.
Mr. Green graduated Cum Laude with a BS in Mathematics and Exonomics from Hampden-Sydney College.
Kyle Jenks is the founding principal of Parkside Partners, and has 28 years’ experience in marketing and developing commercial real estate in Atlanta. Mr. Jenks is responsible for overseeing all of the day-to-day activities for Parkside including identifying acquisition and development opportunities; securing of equity and financing; project branding and marketing strategies; business development; and investor/partner relationships. Kyle is a native of Atlanta, a member of the Urban Land Institute 2010 Center for Leadership, and a graduate of the University of Georgia.
Katharine Kelley is Executive Vice President at Newport US RE. Her primary responsibility is overseeing all development and construction activities.
Prior to joining NEWPORT, she held a range of in senior positions for notable real estate firms including The Landmarks Group, Post Properties, Green Street Properties, and Jamestown. Ms. Kelley received a Bachelor of Arts Degree from the University of North Carolina, a Master of Science Degree in Real Estate Development from Columbia University, and a Master of Business Administration at Harvard University.
Mr. Heagy is a senior managing director and is responsible for the leasing and marketing of the office projects and for securing corporate services and mixed-use development assignments in the Southeast Region of the United States. Mr. Heagy joined the firm in 1996 and has been active in Atlanta's commercial real estate market since 1977.
Mr. Heagy received his BA in Political Science from the University of Georgia. Mr. Heagy serves on the Board of Directors of the Atlanta Commercial Board of Realtors, Central Atlanta Progress (CAP); Metro Atlanta Chamber; and the Perimeter Community Improvement District (PCID).