Midtown West Associates Sells Brickworks Mixed-Use Portfolio in Atlanta for $80M
ATLANTA — Midtown West Associates LLC, a real estate development and management firm based in Atlanta, has sold Brickworks, a portfolio of retail and office buildings in Atlanta’s West Midtown district. Charlotte-based Asana Partners purchased the portfolio for an undisclosed price, but Atlanta Business Chronicle reports Brickworks traded for nearly $80 million. Patterson Real Estate Advisory Group marketed the 194,000-square-foot portfolio for sale. Richard Martin, managing director of Midtown West Associates, previously redeveloped his family’s obsolete brick warehouses in the city’s former industrial district into an adaptive reuse campus that is now leased to tenants such as Octane Coffee, Hop City, Food Terminal, Earl’s Bike Shop, Five Seasons Brewing, Snap Fitness, Nouvelle Nail Spa, Lola West Salon, Bocado, and Carvana. Brickworks also features several art galleries and workspaces, home décor and apparel stores and offices, including a regional office for Facebook. Brickworks and Jamestown’s Westside Provisions District are widely considered the catalysts behind Atlanta’s West Midtown’s boom, attracting best in class restaurants, shops and offices, as well as spurring new development. Asana Partners has made several investments in Atlanta’s prime neighborhoods recently, including Krog Street Market, a food hall in Inman Park; the Plaza Theatre and Majestic Diner in Poncey-Highland; and Midtown Promenade, a shopping center across from Piedmont Park and along the Atlanta BeltLine that is anchored by Trader Joe’s and Midtown Arts Cinema.