With skyline views, a future link into the Beltline, and adjacency to a local park that’s angling to get substantially larger, the holders of a 4-acre site in Chosewood Park believe they’re sitting on the Atlanta equivalent of beachfront property, albeit in the rough.
All that’s missing, according to Raulet Property Partners officials, is the right big idea.
The company is floating marketing materials that ask for potential tenants to reimagine four acres at 460 Englewood Avenue, currently with a 50,000-square-foot, empty warehouse, offices, and gobs of surface parking.
“We would convert it to 100 percent office for a tenant that’s the right fit, or a brewery, or something in between,” Tyler Edgarton, a Raulet partner, tells Curbed Atlanta. “Longterm, the tenant will be looking down on the [Beltline’s Southside Trail], and the Boulevard Crossing Park, and will have access to The Beacon [across the trail] for walkable amenities.”
The warehouse space has 20-foot ceilings that could accommodate another possible use: TV and film production, per the company.
Leasing rates are $6.50 per square foot annually—a breakdown of roughly $30,000 per month. For context, Midtown office space falls more in the range of $25 to $45 per square foot net, while Ponce City Market fetches more than $50 per, said Edgarton.
Basic industrial space along a corridor like Fulton Industrial Boulevard carries rates of about $4 per square foot net.
Another company head, John Raulet, pointed to recent development, closings, and pending deals in virtually every direction from the Englewood Avenue property.
Per Raulet, those include: a 150-unit affordable housing venture by Prestwick Companies (55 Milton Avenue); 11 acres under contract to Mill Creek (99 University Avenue); and a New York developer’s purchase of a large property at 1090 Hank Aaron Drive this year.
“Few, if any, large tracts are available along the Beltline on the southside,” Raulet wrote in an email. “Density in this area will increase substantially in the next three years.”