When you look at the current realities of the overall Atlanta real estate market, we are truly blessed to be in the position we are in. We worked hard and took considerable risks in order to deliver a project that could make a long-term difference in the community and it would appear that the strategy, combined with significant determination have indeed been well received by the market.
Atlanta, GA (Vocus) December 22, 2009
Regent Partners, one of Atlanta’s leading real estate development firms and very recent winner of the Urban Land Institute’s prestigious “Project of the Year” for its development of the luxury high rise Sovereign, has leased close to 90-percent of its commercial real estate space at Sovereign. This success comes at a time when Buckhead faces historically high class A office vacancy rates.
The 50 story mixed used tower on Peachtree Road in Atlanta’s Buckhead district that includes more than one-half million square feet of Class A office and retail space, recently welcomed tenants, Asset Preservation Advisors, Crescent Wealth Management and the Law Firm of Weinberg, Wheeler, Hudgins, Gunn, & Dial. Together, these firms represent over 80,000 square feet of new occupancy which comes on the heels of the very successful November opening of Bistro Niko, Buckhead Life Groups’ newest restaurant which is located on Peachtree Road in the buildings retail area.
The luxury high-rise also continues to see success on the residential side, selling two luxury condos during the third quarter, including one of its Penthouse units, which will be the highest residence in Atlanta. The recent success at Sovereign, contradicts the current trend of struggling residential and commercial real estate developments across the Atlanta landscape.
“We are extremely pleased that we are continuing to experience such strong success on both our commercial and residential sides,” said Regents Partners Principal, David Tennery. “When you look at the current realities of the overall Atlanta real estate market, we are truly blessed to be in the position we are in. We worked hard and took considerable risks in order to deliver a project that could make a long-term difference in the community and it would appear that the strategy, combined with significant determination have indeed been well received by the market.”
The development concept for Sovereign began as early as the mid 1990’s, but design plans did not begin in earnest until the early 2000’s. The multi-use project was completed in mid 2008. Designed by architects, Stewart, Stewart & Associates the 635-foot building is Buckhead’s tallest building to date. It’s fluid and organic architecture that includes curved features has enabled Sovereign to quickly become a City landmark and the center piece for the Buckhead district.
Sovereign has consistently been acknowledged with several industry and community accolades over the last few years including the Best of the Best Award in McGraw-Hill Construction’s (MHC) national competition, which recognizes design and construction excellence in residential projects. Sovereign competed against winners from 11 regions in MHC publications’ Best of 2008 Awards to be recognized as the overall Best of the Best.
Their most recent accomplishments complement a series of awards and accolades that Sovereign has received since 2007, prior to its opening in 2008. The multiple achievements include Regent Partners, LLC being named as Development Firm of the Year by the Georgia Chapter of the National Association of Industrial and Office Properties and the 2008 Development of Excellence Award – Livable Center Initiative Achievement Award from the Atlanta Regional Commission and the Livable Communities Coalition. Also, The Atlanta Business Chronicle named 3344 Peachtree/Sovereign the 2007 Deal of the Year for Mixed-Use Development and the Development Authority of Fulton County awarded 3344 Peachtree/Sovereign with the 2007 Economic Development Award.
About 3344 Peachtree/Sovereign:
Developed by Atlanta-based Regent Partners, LLC, Sovereign, located at 3344 Peachtree Road in Buckhead is a 50 story mixed-use tower designed by architects, Smallwood, Reynolds, Stewart, Stewart & Associates. The 635-foot tower includes more than one-half million square feet of Class A office and retail space crowned by the 82 residences of Sovereign. Homes are offered from $1 million and begin on the building's 28th story affording penthouse-like views from all residences, which range from more than 1,700 square feet to more than 10,000 square feet. Sovereign, which was named Best in Atlanta Real Estate in 2007, includes fine dining at Bistro Niko, a Buckhead Life Signature French restaurant and the services of the distinguished Buckhead Club. As a mixed-use new urban design, Sovereign offers unparalleled private pedestrian and automobile access to major roadways, restaurants, services, shopping and recreation. Residential sales at Sovereign are handled by Atlanta Fine Homes Sotheby's International Realty. For more information about Sovereign, please call 404-266-3344 or visit http://www.sovereignbuckhead.com.
About Regent Partners:
Established in 1988, Regent Partners, LLC is a leading Atlanta-based real estate development, investment and services firm. Currently the partnership has more than one half billion dollars in development projects under way. Since its inception the company has acquired and developed more than 10 million square feet of office, residential and hotel space valued in excess of $2.0 billion. Regent Partners' diverse portfolio includes hotel, residential, office, retail, mixed-use and land holdings. The senior management team consists of executives with more than 150 years of combined experience in acquiring, re-positioning, developing, managing, leasing and constructing commercial real estate assets. For more information about Regent Partners, visit http://www.regentpartners.com.
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