Atlanta Land Group - Volume 2, Issue 4

ALG agents continue to be recognized as "Top Producers" specializing in land sales in the Metropolitan Atlanta area and North Georgia. March 20th was met with excitement as The Atlanta Commercial Board of Realtors and the Atlanta Business Chronicle, who sponsored the Annual Awards Banquet for the top agents in their respective areas of specialization, announced the winners of 2008.

This year was another year of "Top 10" production for ALG. We had two agents finish in the "Top 6" positions at the banquet. This is a tremendous achievement as 2008 was our first year to have two representatives from ALG. Teamwork is the hallmark of ALG Agent's "Top Ten" production in 2008. ALG's entire team of 14 agents will continue to team together to have another successful 2009 "Top Ten" year!

ALG's Broker and President, Robert Armstrong, was recognized as the number two agent and producer for 2008. Robert completed two land sale transactions in 2008 that each sold for approximately fifteen million dollars. He represented Bill Heard Enterprises and sold a thirty acre site at the intersection of Interstate 85 and GA Highway 20 in Buford, Georgia, across the Interstate from the Mall of Georgia. ALG was successful in contracting with BrandsMart USA, assisted in obtaining a variance to accommodate a 75 foot façade at BrandsMart's entrance to its building and coordinated numerous joint development issues with QuikTrip and the adjoining apartment complex to accommodate the expansion of a shared two lane ingress / egress driver accessing GA Highway 20 that was expanded to five lanes. The entire start to finish time of this contract was amazingly short, 210 days. Additionally, Robert and David Chalmers represented a group of foreign investors and acquired the 137 acre former "The Pottery" site at the Southeast quadrant of Interstate 85 and GA Highway 411 in Commerce, Georgia. This transaction took months of negotiations. Once under contract ALG was able close this acquisition in 27 days.

On another "Top Finisher", Robert would like to announce that his daughter, Anne Marie Armstrong, is nearing the end of her high school athletic career as a student of Wesleyan High School in Norcross, Georgia. Anne Marie has earned eight state championship titles (3 basketball, 3 volleyball and 2 track) and one national AAU title in Volleyball and has received many other accolades and achievements to her resume of accomplishments. In June of 2009 Anne Marie will relocate to Athens, Georgia and begin her college career on a full scholarship at the University of Georgia Lady Bulldogs basketball team.

"Repositioning" your property makes prudent sense during this real estate climate. Woody Galloway, an attorney who specializes in rezoning land use matters with Dillard & Galloway, LLC, shared with us at ALG that much of their work currently is being conducted in the area of zoning property for future use. Many property owners are preparing for the market to shift to more positive times. "Many cities and counties have few if any hearings. Commissioners are most interested in increasing their tax base, therefore, many commissioners are viewing rezoning applications more favorably today than in years past," said Mr. Galloway during his recent presentation to ALG's staff. It may take many months for zoning approvals and this is a proactive way to jump starts the process so that buyers can hit the ground running with their intended use for the property they plan to purchase.

We also welcomed Melinda Coker with EDC (Economic Development Corporation) from Gainesville, Georgia who presented opportunities pertaining to SBA (Small Business Administration) loans. The focus was on the SBA 504 loan program and its requirements. The following are examples of projects that make good SBA loans: medical and dental professions, day care centers, salons, manufacturing, hardware stores, liquor stores, grocery stores and much more. This may be an avenue for potential buyers when evaluating a site to purchase.