Four Mile Capital (FMC) and Kramer Real Estate Investments (KREI) today announced key milestones in the restoration of the historic W.D. Grant Building in Downtown Atlanta, six months after the companies acquired the building in a joint venture. JLL is handling leasing, management and restoration of the building.

FMC/KREI acquired the 10-story W.D. Grant Building in October 2017 and have spent the past six months making several cosmetic improvements to the building, including new interior LED lighting, new ‘spec’ office suites, marble polishing and exterior power washing. In addition to these necessary cosmetic changes, ownership has completed critical infrastructure capital projects including a full roof system replacement, downspouts and parapet wall repairs, new HVAC equipment and is in the process of overhauling all four building elevators with new cabs and mechanicals.

“When renovating historic buildings, there are always surprises, which is part of the fun of these projects,” said Brandon Kramer, owner of KREI. “We’re really excited about the progress we are making in the transformation of the W.D. Grant Building. Every time I visit the property, there are new and exciting changes that make you fall in love with the building all over again.”

The 135,000-square-foot office mid-rise, built in 1898, was purchased out of bankruptcy and was approximately 53 percent occupied at the time of purchase, including 10,000 square feet of retail and restaurant space. Retail and office leasing efforts are currently underway, led by JLL Vice President Coleman Morris and Vice President David Horne.

“We are witnessing the rebirth of this historic downtown landmark, which will soon deliver a cutting-edge office experience while retaining its classic charm,” said JLL’s Horne. “With the completion of these renovations spurred by new ownership, the W.D. Grant Building will be ready to welcome a new wave of office and retail tenants to Downtown Atlanta.”

Located in the Fairlie-Poplar District and listed on the National Register of Historic Places, the W.D. Grant Building is the second oldest structure constructed of steel in the Southeast. It’s situated near Georgia State University’s growing campus, two of Atlanta’s largest MARTA stations, and Underground Atlanta, which recently sold for development.

“It’s thrilling to participate in the restoration of the W.D. Grant Building and to play a small part in the revitalization of Downtown Atlanta,” says Chris Geer, a founding partner of FMC. “We’re proud of the work we’re doing and the community and current tenants are starting to take notice. The W.D. Grant Building represents a very viable and exceptionally-located solution for both office and retail users in one of the more dynamic parts of downtown.”

About Four Mile Capital

Four Mile Capital, a privately held real estate investment firm, continues to pursue additional multifamily, office, industrial and hospitality opportunities throughout the U.S, with a specific focus on the top 100 MSAs. They employ an opportunistic strategy in acquiring off-market properties that fall below the radar of its institutional peers, targeting investments with a total capitalization between $10MM and $100MM, and between $5MM and $35MM of equity. The FMC principals have proven their ability to identify and unlock asset value by instituting capital improvement programs and best management practices. Learn more about Four Mile Capital at www.fourmilecapital.com.

About Kramer Real Estate Investments

Kramer Real Estate is a privately held real estate investment firm focused on value-add and opportunistic real estate opportunities throughout the U.S. With roots in petrochemical development and investment sales brokerage, the firm has a unique approach to deals, being able to see through the typical roadblocks most firms have to get to the story of the deal and uncover the real opportunity most may have missed.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.