CORFAC News

Atlanta, GA – Alan Joel, CCIM, and Dan Granot, SIOR, Principals at Joel & Granot Real Estate/CORFAC International (JGRE) today announced they represented Westplan Investors in the $11.2 million acquisition of a Chesire Bridge property that Westplan intends to redevelop into a mixed-use project with loft office and showroom space plus a “wrap” apartment development with ground-floor retail and apartments surrounding a podium-style parking garage.

The seller of the 7.4 acres of land with two existing 50,000-square-foot and 70,000-sf warehouse buildings was the Estate of John Hunsinger.

Located at 2050 Chesire Bridge Road in Atlanta, the corner of Cheshire Bridge and Faulkner Road is in the heart of the Cheshire Bridge corridor.  Says Principal Alan Joel “Cheshire Bridge has been a mostly undesirable area of Atlanta for over 40 years. The submarket deserves better and we know that Westplan will continue with this corridor’s improvement.  Our firm is very active with other listings in this area and we hope to continue changing this corridor even if it’s one property at a time. Cheshire Bridge should be the shining star of Atlanta!”

The Doll House (an exotic dance club) fronts the land along Chesire Bridge Road. Westplan Investors plans to demolish that facility and build the apartments with retail and parking on that section of the property. The warehouse buildings are scheduled for immediate renovation.  Construction of the estimated 15,000 square feet of retail and 180 apartment homes is slated to begin this summer with an expected 18-month build out.

Joel and Granot Real Estate/CORFAC International was retained to market the renovated loft office and showroom space for lease. The Atlanta-based brokerage firm has been active in the Chesire Bridge market for years. The firm sold the building next store, at 2070 Chesire Bridge in 2007 for $1 million. JGRE also sold 1769 Chesire Bridge for $365,000, which was a former house converted to a photography studio and the new owner installed an upscale antique store there. Additionally, Joel and Granot sold an empty 20,000-sf commercial building nearby, located at 1924 Piedmont Avenue, for $2.3 million to a medical group.

About Joel and Granot Real Estate/CORFAC International
At Joel and Granot Real Estate (JGRE), our character and culture are rooted in the firm's core values of integrity, entrepreneurship and industry knowledge. JGRE approaches the business of commercial real estate services differently from others in the Atlanta metropolitan area. Collaboration with colleagues and clients drives our commitment to perform at the highest level on behalf of our clients every day. To learn more call 404.869.2600 or visit www.joelandgranot.com.