Real estate partners are looking for someone to lead a large-scale redevelopment of a 4.61-acre site near the Brookhaven MARTA station.
The Porter Square site is located at 3920-3930 Peachtree Road and includes the former Hastings Nursery building and the current retail facility of Kaufman Tire, which will continue operations until redevelopment work begins. The site has been owned by the family of Starr Porter, who runs SDS Real Property Holdings, for more than 30 years.
Miami-based IG3 Real Estate is the asset manager overseeing the project. IG3 partner Carlos Imery said the project will "re-activate this incredible site in one of the most desirable locations in Atlanta."
“We are extremely bullish on Greater Atlanta, and continue to seek strategic investments and development opportunities in the area,” said Imery.
The overall use of the development is still to be determined and will be dictated by the market. There will a retail component, with potential for offices, multifamily or medical purposes.
SDS and IG3 retained John Speros of Ackerman & Co. and David Branch of Site Services Group as land investment advisors to find a developer for the project.
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