Jacoby plans to turn brownfield into green

Atlanta-based Jacoby Development Inc. has just released updated plans for its huge mixed-use development that will convert an industrial site into a mini-city in Georgia's capital.

The full-service real estate company, known for shopping center development, plans to build up to 6 million sq. ft. of office, 1 million sq. ft. of high-tech office, 1.5 million sq. ft. of retail and entertainment, 5,000 residential units and 1,000 hotel rooms on the Atlantic Steel property. The site is a 138-acre tract situated at the confluence of Interstates 75 and 85 in midtown Atlanta.

Jacoby plans to buy the property from Atlantic Steel Industries for about $76 million after Atlantic Steel cleans up the site.

* The photographer for the cover of the June issue of NREI was identified incorrectly on the Table of Contents. David Fine of Atlanta photographed Kurt Wright, CEO of Chastain Capital.

* AMB Property Corp., San Francisco, was omitted from the Top Industrial Owners Survey in NREI's April issue. With 37,329,000 sq. ft. of industrial space as of Dec. 31, 1997, the company would have ranked fourth. AMB can be reached at (415) 394-9000 (phone) or (415) 394-9001 (fax) or by e-mail at [email protected] Or see the REIT's website at www.amb.com for more information.

NAIOP offers up Deal City Where oh where is the best place to meet with the deal-makers, the movers and shakers inside commercial real estate these days, and preferably all in one convenient place? It just might be the National Association of Industrial and Office Properties' (NAIOP) Annual Marketplace Conference this fall in Atlanta, October 21-23 at the Atlanta Marriott Marquis.

Specifically, we're talking about a new concept to be launched this year for the first time called "Deal City." The idea is to give attendees a unique opportunity to network with and learn more about what various types of deal-making firms are offering the industry in a one-stop shop over two full days.

A preliminary list of the companies already signed up for Deal City include: * Patriot American

* Weeks Corp.

* Security Capital Industrial Trust

* Mack-Cali

* First Industrial Realty Trust

* Prudential Mortgage Capital

* Cousins Properties

* GMAC Commercial Mortgage

* Capital Lease Funding

* FINOVA Realty Capital

* ValueExpress

* Carter & Associates*Oncor

* Triad Properties

* The Quest Group

* Stiles Corp.

The concept provides for each Deal City participant to have a mini-Deal City Suite in one part of the Marketplace Conference that will be complete with offices, comfortable chairs and lounges where conference attendees can meet directly with prominent deal-makers in an environment that is conducive to doing deals - buying and selling properties, planning mergers and acquisitions, initiating financing, forming alliances or discovering new joint venture development opportunities.

Deal City will serve up wide-ranging fare to a variety of firms, including REITs, developers/owners, lenders, investors and brokers.

Space is limited to only 35 Deal City Suites. To find out more information about participating in this program, call Kathleen Turner at 800-666-6780, ext. 117. To find out more about the NAIOP Annual Conference Marketplace, call Jennifer Goodwin at 703-904-7100, ext. 108. You can also access the NAIOP home page on the Internet at www.naiop.org.

>From Asian Flu to Web 2000, CCIMs get ready "As economic fundamentals continue to strengthen, real estate has been a direct beneficiary," says Dewey Struble, CCIM, 1998 CIREI president, whose CCIM International Commercial Real Estate Conference, co-sponsored by NREI, is scheduled for June 11-13 at the Sheraton Hotel and Marina in San Diego.

The commercial investment industry has seen a gradual but positive repricing of real estate, with the U.S. economy doing its part to sustain optimal conditions for investor confidence. Attendees at the session "Investment Real Estate: Where is it in the Cycle?" will hear how much capital remains in the marketplace, whether buyers should be prepared to be long-term players and what the outlook is for sellers. Panelists including Craig Evans, CCIM, Cushman Realty, and Hugh Kelly, Landauer Associates, will address whether a potential deflation of real estate values is on the horizon and where the six major property markets are in the cycle.

In the session "How to Catch the Asian Flu and Get Healthy Returns," Alice Young of Kaye, Scholer, Fierman, Hays & Handler, New York, will discuss the Asian economic crisis and its effect on the U.S. real estate market. Which Asian countries are hardest hit, and are they now more likely to sell, buy or hold U.S. real estate? The session will include advice on international business negotiations and insight into cultural and legal differences.

Microsoft Senior Architectural Engineer Bret Arsenault will explain, during the session "Web 2000," that several changes in technology, infrastructure and social fabric will have to occur before the full economic promise of the World Wide Web can be realized. Arsenault will identify these changes, how they may be brought to fruition and who may lead these innovations.

Other speakers at the meeting will include Peter Pike, former Notre Dame football coach Lou Holtz, and authors Tom Morris and Harry Dent.

Registration information is available at (800) 621-7027, ext.4489, or www.ccim.com.

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