Thursday, February 24, 2011

Parkside Partners Sells Chamblee, GA Building to AGL Resources

 ATLANTA, GA - Parkside Partners, LLC, an Atlanta based development and brokerage firm, recently sold a building (top left photo) it owned in Chamblee, Georgia to AGL Resources that will serve as the new location of the gas company’s Peachtree Service Center.  Parkside has been hired to AGL to handle the redevelopment of the building.

AGL acquired the 20,500 square foot building, located one-half mile from the former Doraville GM Plant, from RP Partners, LLC in late December 2010.  AGL’s planned renovation of the building will include a complete interior upgrade, exterior improvements, and new landscape and sidewalks with streetlights and street-trees.

The renovations are scheduled to start in March, and the Peachtree Service Center employees will occupy the building by the end of June.  The center will bring more than 50 jobs to the area, and has a total capital budget of $4 million.

“Parkside Partners has been a tremendous asset to the City of Chamblee,” said Chamblee Mayor, Eric Clarkson (middle right photo).  “They have been able to bring economic development to the City of Chamblee in these trying market conditions.

“They understand the vision of the City and seem to be more than happy to help us realize that vision by incorporating the design guidelines found in our zoning ordinances into the building of their developments.”

RP Partners, a partnership between Parkside Partners and RACO General Contractors, acquired the building in March 2008.  When Ingersoll Rand, which had leased and occupied the building the past 10 years decided to relocate when its lease expired, Parkside approached AGL about acquiring and completing an adaptive re-use of the building and 2.8 acre site.

The sale to AGL closed on Dec. 29 for a purchase price of $2.98 million.  Parkside Partners’ principal, Kyle Jenks, (middle left photo) represented RP Partners and Jim Sanders of ICON Commercial represented AGL.

The AGL Building redevelopment is the latest of several development projects Parkside Partners worked on in Chamblee. 

 Parkside’s other Chamblee developments include 3401 Malone, a warehouse Parkside converted into a loft office space for WGSI, a division of URS Corporation, and 5256 Peachtree (lower right  photo), another converted loft office building where Parkside relocated its offices and has attracted ten additional tenants.

“Combined, Parkside Partners has been involved in nearly $16 million of redevelopment in Chamblee in the past two years, and we made it our new corporate home,” Jenks said. 

 “We are committed to the City.  Chamblee’s accessibility with the MARTA Station, and its proximity to Buckhead, Perimeter Center and major highways, make it a great location to work.”
Parkside Partners is recognized as a leader in the development of boutique office buildings, adaptive re-use projects, and office condominium buildings.  Since its inception in 2003, Parkside has completed 15 developments totaling over 550,000 square feet of office space in the Atlanta area.

 For additional information on Parkside Partners, please visit
Contact:  Laura Dudebout, (678) 642-4301

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