Saturday, December 15, 2007

Lionstone buys Atlanta site

The Lionstone Group has purchased a nearly seven-acre site in Atlanta that had previously been used by Siemens for $19 million, according to real estate services firm Databank Atlanta Inc.

While the buyer has only recently begun to explore the scenarios for the property, plans could run the gamut, from adaptive reuse as office and wholesale showroom to development as a mixed-use project.

Siemens was represented by Steve Barton of CB Richard Ellis Inc. Houston-based The Lionstone Group was represented by CB's Nelson Kramer and Bruce Lanehart. Kramer and Lanehart are also marketing the property for Lionstone.

Barton said Siemens had used the site for office and warehouse space.

The property is near Atlanta's Atlantic Station, a mixed-use development site.

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source: bizjournals.com

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