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"These plans will complement the mix of breweries, restaurants, food manufacturers, creative loft-office tenants and retailers that have made Lee + White a go-to mixed-use destination." Leo Wiener
ATLANTA, GA, May 22, 2020 /24-7PressRelease/ -- Moving forward with their $85-million redevelopment and expansion of Lee + White in Atlanta's West End, Ackerman & Co. and MDH Partners have released new master plans that include creative loft offices, a food hall, public spaces, additional retail options and multifamily units, all featuring direct and enhanced Atlanta BeltLine access.
"This new phase of development will add a dynamic mix of uses that will heighten activity during the daytime hours while greatly improving the walkability and overall visitor experience throughout the 23-acre site," said Leo Wiener, President of Ackerman Retail. "These plans are part of our effort to complement the proven tenant mix of breweries, restaurants, food manufacturers, creative loft-office tenants and retailers that have made Lee + White a go-to live/work/play entertainment destination while we retain the authentic character of this historic West End property."
Ackerman & Co. and MDH Partners acquired the 11-building, 433,204-square-foot Lee + White property in September 2019 from Stream Realty Partners. The initial phase of the redevelopment of the mid-20th century industrial buildings included the addition of tenants such as Monday Night Brewing, Wild Heaven Beer, Best End Brewing, ASW Distillery and Hop City Craft Beer & Wine, each of which has developed a unique following and enjoyed tremendous success.
As Georgia slowly reopens for business, Lee + White retailers and food & beverage tenants have followed suit by reopening with the health and safety of their customers and the community in mind, many offering takeout and outdoor service prior to being able to operate at full-service.
"Businesses and property owners are facing new challenges in these times, but we are in the unique position of being able to adapt the design of Lee + White's further redevelopment to newly evolving social distancing and operational guidelines. We plan to take advantage of the existing warehouse volumes, high ceilings and wide-open floor spaces along with direct connectivity to many outdoor spaces, including patios, greenspaces and the Atlanta BeltLine," said Jeff Small, CEO of MDH Partners. "We look forward to our current Lee + White tenants being able to safely ramp up their operations as we emerge from the pandemic and move ahead in step with new perspective on our transformative redevelopment plans."
Atlanta-based Smith Dalia Architects is the creator of the new master plans. Further capitalizing on the project's half mile of frontage along the Westside BeltLine, the master plans propose new and enhanced access to the BeltLine, a variety of public spaces overlooking the trail and a path connecting the project's numerous outdoor spaces.
The new master plans for Lee + White include:
• Building 1015, a ground-up, modern and welcoming centerpiece of the West End, featuring a two-story glass-façade structure opening directly to the Atlanta BeltLine. It will offer a 17,000-square-foot food and retail collective on the first floor and 18,000 square feet of creative loft offices on the second floor. The food and retail collective will bring a wide mix of local food purveyors to the neighborhood occupying small open spaces, a central bar and a full-service restaurant space. The second-story loft offices will be notable for their distinctive entry, marquis signage, 12-foot ceilings, floor-to-ceiling glass, exclusive outdoor balconies and common areas with direct views over the BeltLine. The building will be surrounded by expansive BeltLine-facing terraces and greenspaces that will accommodate pop-up vendors and a wide variety of outdoor events. There will be abundant surface parking immediately adjacent to the building.
• Adaptive redevelopment of industrial warehouse space in Building 1050 into 42,121 square feet of creative loft office, featuring 18-foot ceilings, abundant natural light, a large terrace directly overlooking the BeltLine, secured interior bike storage, changing rooms with showers and extensive surface parking.
• Adaptive redevelopment of industrial warehouse space transforming Building 929 into 85,000 square feet of creative office space in an existing two-story structure offering frontage on Lee Street as well as private, secured off-street parking, dramatic and exclusive entry features and building common areas, secured interior bike storage, changing rooms with showers, and direct views overlooking the BeltLine along with new exclusive access. The striking building design will include exposed-beam roofing, floor-to-ceiling windows and skylight-lit double-height interiors.
• Approximately 30,000 square feet of ground-level retail space distributed throughout the property.
• Up to 250 multifamily units with walk-out access to Lawton Street and the BeltLine.
• A terraced outdoor multi-use area – similar to a mini-amphitheater – stepping down directly to the BeltLine.
• A vertical Lee + White sign at the property's front corner providing distinctive branding that honors the property's history.
Construction is slated to begin in the third quarter of 2020 with delivery of the first phase of office space in Building 1050 by the end of 2020, followed by the opening of the new ground-up collective building and second phase of office space in Building 929 expected in mid-2021.
"We're excited about the new master plans showcasing distinctive design elements that will improve the appeal of the property while retaining its authentic industrial feel and strong sense of place in the neighborhood," said Kris Miller, President of Ackerman & Co. "We look forward to Lee + White becoming an even more vital part of the West End community with the upcoming redevelopment."
Ackerman Retail Senior Vice President Kelly Wilson and Leo Wiener are leading the restaurant and retail leasing efforts at the property. Porter Henritze and Sonia Winfield, Directors at Cushman & Wakefield, are managing office leasing. Pre-leasing has begun for the new and re-developed components of the project with exciting announcements expected soon.
Lee + White is located directly adjacent to the Atlanta Westside BeltLine, 0.4 miles from the West End MARTA station and is convenient to all of metro Atlanta's major interstates, I-20, I-75, I-85 and I-285.
Inaugural tenants at Lee + White include the highly successful and acclaimed mix of Monday Night Brewing, Wild Heaven Beer, Best End Brewing Co., ASW Distillery, Hop City Craft Beer & Wine, Plywood People, Honeysuckle Gelato, Cultured South Fermentation Co., Doux South Pickles, Boxcar restaurant, Overlook Boulder + Fitness and MacStadium.
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has 4 million square feet under management and maintains an investment portfolio valued at $1 billion. For more information, visit www.ackermanco.com
About MDH Partners
MDH Partners, LLC is an Atlanta-based real estate investment company managing a current $350 million discretionary fund on behalf of its institutional investors. Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $4 billion (66 million square feet) of acquisitions, developments, and asset management as an advisor and investor. In its recently re-capitalized investment venture with Bain Capital, from 2014 to 2018, MDH Partners amassed a portfolio of 14 million square feet of industrial properties across fifteen cities in eight states, and since launching its current fund in 2019, it has either acquired or begun development on over 5 million sq. ft. of buildings throughout the Southeast and Southwest. For more information, visit www.mdhpartners.com
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