JLL today announces MARTA has engaged the firm to market a transit-oriented development (TOD) opportunity at the North Avenue transit station. This marks the first time MARTA has leveraged a third-party consulting firm for its TOD program.
At approximately 1.5 acres, the North Avenue site represents a unique development opportunity in the rapidly redeveloping southern section of Midtown. Bound by Ponce de Leon Avenue, West Peachtree Street and North Avenue, the property is located within Midtown’s high-density SPI-16 district and within blocks of Portman Holdings’ CODA and Anthem projects, as well as Norfolk Southern’s headquarters. JLL’s Scott Cullen and Mark Lindenbaum, who co-lead the firm’s Land and Development Services Group, and Jeremy Becker, who leads JLL’s Southeast Public Institutions Group, will oversee the marketing of the site, the developer selection and the transaction process. The team aims to secure a developer for a signature tower project.
“With employers and residents increasingly interested in being in this part of Midtown, we think the time is right for us to establish a development partnership,” said Jacob Vallo, senior director of TOD and Real Estate for MARTA. “We look forward to working with JLL to find the right partner for the project.”
Cullen, Lindenbaum and Becker have recently brokered other high-profile properties in the area, including 693 Peachtree St., now the site of the award-winning lilli Midtown, and 760 Ralph McGill Blvd., a forthcoming project from New City, LLC. Other recent public-sector clients represented by JLL include Hartsfield Jackson Atlanta International Airport, DeKalb County and the City of Marietta.
Midtown Atlanta has seen over $5 billion in new investment since 2000. Since January 2017 alone, Midtown has seen the development of 6 million square feet of office space, 9,300 residential units, 1,850 hotel rooms and 600,000 square feet of retail space.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
