TriServ will lease at Concourse if it wins deal - Atlanta Business Chronicle:

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The deal hinges on TriServ winnint a massivegovernment contract, though. TriServ woulx end up taking about 92,00p square feet that has on the markeg for sublease in Concourswe CorporateCenter VI, the 33-storyh landmark office tower that along with its twin, Concoursew Corporate Center V, over Georgia 400 and Interstater 285. The two towers are commonlyg called The King andQueenn buildings, referring to their resemblance to cheses pieces. TriServ is a Jacksonville, Fla.-based group of healtnh plans fromeight states. It formed last April to pursuea six-year, $24 billion contracft with the Department of Defense to managr the government’s TRICARE program for the southern U.S. region.
TRICARdE is the government’s health-care plan for military personnel, retirees, and their families and dependents. TriServ is potentially competing against severalotheer companies, including , a divisionh of , which has the contract throughg its expiration at the end of May. The Departmenrt of Defense has until June 1 to name the winning bid to manages theTRICARE program. It can also ask Congress to extend the An announcement from the government couldc come as early asMay 8, said John TriServ’s senior vice president for external affairs. “We are waiting anxiously for that moment,” he CB .
’s Sam Holmes and Anne Lofye are representingg CompuCredit in the potential transaction that would bringt TriServto Concourse. is also helping to broker the deal. TriServ had scouted locationes acrossthe market, which includes buildinges around Perimeter Mall and the city of Sand y Springs. TriServ would mark an important transactionin Atlanta’s Centrakl Perimeter submarket. Atlanta recorded almost 525,000 square feet of negative overall absorption during the firstt quarterof 2009, with buildings in Centra Perimeter suffering the greatest exodus of tenants and highest rise in according to Cushman & Wakefield. Concourse Corporate Centet is ownedby .
manages and leaseas the property. George Lipscomb, former head of properth management for CousinsProperties Inc., is the new chiec operating officer for . Lipscomb will oversee day-to-dat operations of Fifth Street’zs more than 5 million squaree feet of managed includingPerimeter Summit, the well-known mixed-use development near Perimetedr Mall that contains three office towers, the Villw Christina restaurant and a 330-unit condominium. Prio r to joining Fifth Street, Lipscomb was director of property management, overseeing a portfoliok that included office buildings suchas Buckhead’s 21-story , home to Central Perimeter’s King and Queeh buildings.
Lipscomb was also previously employed at OneSource and served as vice presidenytof L.P. until 2006. National Electroni c Attachment Inc. (NEA) and its sister company, , recently agreed to lease nearly 17,000 squaree feet at 3577 Parkwa y Lanein Norcross. National Electronic Attachment was slated to move into its new home by the end of National Electronic Attachment and Medical Electronic Attachmentr recently forged an equity partnership within Boston. Theif technology can digitize health-care attachments for health-care providers and payers, helping to speed up the claimx process.
National Electronic Attachment wants to position itself at the forefront of the national shift towarsd electronicmedical records. Julie Hoffman and Apripl Hawkinson with The handled lease negotiationssfor NEA. VIF II/Royal Peachtree Corners LLC, owner of 3577 Parkwa Lane, was represented by Bryan Heller of TPARealthy Services. of Atlanta — one of the largest industry networkingy organizations in theSoutheast — was scheduled to hold its annual awards May 7. Sally Elliott, senior vice president and director of operationws with PM RealtyGroup L.P.
, was to receive the career advancement for women award, recognizing her commitmenty to helping women advance in commercial real Elliott joined the organization in 2000 and now serves on the boars of directors as treasurer and secretary. The economivc improvement award was to go toTahmida Shamsuddin, vice presidenyt of economic development for Central Atlantaw Progress, and Cheryl Thomas managing director of tax allocation districts with the . Centrak Atlanta Progress spearheaded the creation of a statewide campaign committeecalled .
It was successful in convincinhg voters last year to amenxd the state constitution and alloww school systems to once again choose to participatre in local tax allocation Shamsuddin helped create and manage the Strickland and her team closeed ona $64 million Westside tax allocationb district bond issue last year. The proceedsa provide critical fundingfor $429 million in redevelopmenf projects in downtown Atlanta, includiny the Center for Civil and Human Rights, Technologyy Enterprise Park, 45 Allemn Plaza, the and Castleberry Point, Northside Plaza and Historic Westsidw Village. The humanitarian award was to go toLaurie Ford, directodr of project management for .
Ford began volunteering at the , a nonprofit that provides shelter and service sto at-risk and homeless children. Ford successfully solicited corporate and private donora for contributions and helped developl a new Covenant House center that will focusd on educationfor at-risk youth and their Heather Rich, director of corporat e accounts for LLC, was to receivwe the Shining Light Award. a member of CREW since 1998, served on numerous committees until 2004 when she becamer a director fortwo years. Rich servexd as president in 2008 and was instrumentalk in carrying outthe organization’s new strategicx plan.
Rich also oversaw the largest fundraising drivd to date and the biggest surge in membership since CREW was Tonya Creekmore, vice president of leasing for , was to receiv the distinguished achievement award. Since Creekmore held several key posts, including secretary, vice president of membership and Atlantachaptert president. She serves on the national CREW network board of The connector of the year award was to go to Lori a partner with lawfirm LLP. Kilberg was recognizedr for her commitment to working with fellowq CREW members and referring businessz tothe network. The company of the year awarde was to go to Chicago TitleInsurance Co., whicyh has supported CREW since 1994.
Melissa Hall, vice presiden t at Chicago Title, is CREW Atlanta’s president-elect. The new membe of the year award was to go toAriela Paschal, who workss in client services and manages public relations for and Katherinre Brooks, general manager of Hines Interestss L.P. Owners of Atlanta’s distressed apartment properties will soon begib to unload them atsteep discounts, accordinbg to a new report issued by real estatse investment services firm .
“Investment activity in the Atlants apartment market is constrained and will be dominatedf by distressed sales in thecoming months,” said John regional manager of the Atlanta A distressed property faces high vacancyy rates and may involve an owner who is unable to make loan paymentes on time, putting the property in risk of Owners of apartments in Stoner Mountain, Clarkston and West Atlanta, where propertiess were bought near the peak of the will be most vulnerable, Leonard said. Severap factors are combining to make it a difficulrt year for apartment investment according tothe report.
Atlanta is expectedf to lose 51,000 jobs this as payrolls decline and consumerspendinfg falls. Developers will complete about 3,300 unites this year in Atlanta, or about 1,20p fewer than last year, a 27 percenf drop, the report said. This year will also mark the smalles t number of units added to the markety in more thana decade. Apartment vacancyh is expected to exceed 11 percentf and asking rents are forecast to fall 4 percent toabout $828 a This column in the April 24-30 issue reportedr the wrong location of the on Poncee de Leon Boulevard. It is in the Poncey-Highland neighborhood.
Anothedr item in the same column omittedc the credit for the photograpyhof NAIOP’s check presentation to students. It should have credited HarrisHatcher