Comments on: SunTrust Building in Downtown Decatur Sells for $7.7 Million http://www.decaturmetro.com/2014/01/14/suntrust-building-in-downtown-decatur-sells-for-7-7-million/ Decatur Georgia News, Events, Atlanta News Thu, 06 Mar 2014 21:21:04 +0000 hourly 1 http://wordpress.org/?v=3.8.1 By: Stephen http://www.decaturmetro.com/2014/01/14/suntrust-building-in-downtown-decatur-sells-for-7-7-million/#comment-461709 Sat, 18 Jan 2014 03:43:22 +0000 http://www.decaturmetro.com/?p=29211#comment-461709 Someone needs to figure out the total sq. ft. of the parcel purchased and then do the math on the $7.7. Then factor in the lease values ( or deducts for buyouts) and the value of the improvements (or deducts for demolition) to come up w/ a value. Certain the new owners thinking is complex.
Many of the old structures in Decaturs’ CBD are no where near the value of the dirt they sit on. Therefore you can’t figure the parcels ‘value’ based on current rents or the current building.

]]> By: Peripatetian http://www.decaturmetro.com/2014/01/14/suntrust-building-in-downtown-decatur-sells-for-7-7-million/#comment-460736 Thu, 16 Jan 2014 14:07:17 +0000 http://www.decaturmetro.com/?p=29211#comment-460736 Seriously?

You expect the Artisan residents to be looking at a seven-story parking garage on that corner?

]]> By: David Harris http://www.decaturmetro.com/2014/01/14/suntrust-building-in-downtown-decatur-sells-for-7-7-million/#comment-460409 Wed, 15 Jan 2014 22:49:34 +0000 http://www.decaturmetro.com/?p=29211#comment-460409 +1

That is indeed a prime corner.

Also, speculation, not cash flow, drove that purchase. Someone is expecting an upwards trend in Decatur !

]]> By: Robert Butera http://www.decaturmetro.com/2014/01/14/suntrust-building-in-downtown-decatur-sells-for-7-7-million/#comment-460385 Wed, 15 Jan 2014 22:10:00 +0000 http://www.decaturmetro.com/?p=29211#comment-460385 The 176 unit apartment complex planned north of the Artisan has no planned street level retail.

I suspect this may make the units at the north end of the Artisan (currently a real-estate office) more attractive to street-level retail.

]]> By: Rsizzle http://www.decaturmetro.com/2014/01/14/suntrust-building-in-downtown-decatur-sells-for-7-7-million/#comment-460359 Wed, 15 Jan 2014 21:36:33 +0000 http://www.decaturmetro.com/?p=29211#comment-460359 Maybe it was a 1031 exchange? It’s a hell of a corner. Later on they could build upwards. They didn’t buy it to lose $$$.

]]> By: DawgFan http://www.decaturmetro.com/2014/01/14/suntrust-building-in-downtown-decatur-sells-for-7-7-million/#comment-460287 Wed, 15 Jan 2014 19:58:40 +0000 http://www.decaturmetro.com/?p=29211#comment-460287 I stand corrected. This piqued my curiousity, and if the rental rates in the marketing materials I found online are accurate, this building would cash flow (assuming the purchaser put down at least the standard 20-25% percent, low interest rates, etc.). So, maybe they do plan to hold it for a while.

]]> By: Jeff http://www.decaturmetro.com/2014/01/14/suntrust-building-in-downtown-decatur-sells-for-7-7-million/#comment-460125 Wed, 15 Jan 2014 15:36:49 +0000 http://www.decaturmetro.com/?p=29211#comment-460125 Oops. Sale, not same.

]]> By: Rival http://www.decaturmetro.com/2014/01/14/suntrust-building-in-downtown-decatur-sells-for-7-7-million/#comment-460065 Wed, 15 Jan 2014 13:37:12 +0000 http://www.decaturmetro.com/?p=29211#comment-460065 $589 per sf is more than the $575 per sf that The Shops at Lenox just sold for (next to Lenox Square).

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