Athens, Georgia - Following the successful lease-up of the retail and office space, Batson-Cook Development Company has sold the award-winning West Washington building in historic downtown Athens, Georgia.
Batson-Cook Development Company constructed and delivered the project in the depths of the economic downturn. Started in the spring of 2010 and completed in the fall of 2011, the West Washington building is an example of Batson-Cook Development Company’s innovative platform, which provided financing and the necessary completion guarantee in the uncertain economy. The successful lease up of the project was a direct result of the delivery of new product and flexible space when nothing was being built. As a result, the West Washington building benefitted from the early shoots of the recovery.
West Washington Building, LLC purchased the retail and office holdings for $7.7 million. Craig Taylor and Tony Swann of CBRE represented the seller. The parking component of the building is owned and operated by the Athens-Clark County Unified Government.
“West Washington has been a great partnership from start to finish,” said Jeremy Hammerton, vice president of development with Batson-Cook Development Company. “This was a true public-private project where every player got more than was expected out of the project. Batson-Cook Development Company is proud of our team and our partners on this success.”
The West Washington building, located along West Clayton and Washington streets, includes 14,600 square feet of retail space, 28,000 square feet of office space and 540 parking spaces. Before the building was completed, Partner Software signed a lease for 10,000 square feet and has since increased its space. Communications firm Jackson-Spalding, IMG Worldwide and Northwestern Mutual followed bringing the office component of the property to 90 percent leased. Waffle House, Momma Goldberg’s Deli, Brixx Pizza and Fuzzy’s Taco Shop were among the retailers signing long-term leases for flexible street-level space in the heart of downtown Athens.
With a roof top garden, drought tolerant vegetation and a rain water cistern, the mixed-use building features recycled materials, energy efficient air conditioning units, and tenant guidelines encouraging green build-outs. It is one of the only LEED-certified office buildings in Athens.
Batson-Cook Development Company developed the downtown mixed-use facility in partnership with the Athens-Clarke County Unified Government and the Athens Downtown Development Authority. The project was named the Public-Private Deal of the Year in 2012 by the Association County Commissioners of Georgia, ACCG.
Founded in 1963, Batson-Cook Development Company is a fully integrated real estate organization providing development and capital solutions primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, BCDC draws on its formidable experience, its parent company Kajima USA and its close relationship with Batson-Cook Construction to offer a wide variety of real estate services from development and construction, to equity and credit enhancements, to brokerage and property management. Learn more by visiting www.batsoncookdev.com.
Batson-Cook Development Company is a wholly owned subsidiary of Kajima USA. Founded in 1840, Kajima Corporation is an industry leader in the field of construction headquartered in Tokyo, Japan. Kajima’s extensive experience and expertise in the development, design, and construction in a wide variety of projects has led to worldwide recognition. Kajima had revenues of more than $16 billion in 2010 and employs more than 15,000 in over 20 countries. Learn more by visiting www.kajimausa.com.