Greenfield Advisors is well-known in the areas of complex economic consulting and real estate valuation for a wide variety of clients across the country.  Recently, we were asked to do something we’ve never tackled before, and happily took it on.

The project involves two of the tallest buildings in Augusta, Georgia, a beautiful city just a couple of hours east of Atlanta. The historic Lamar Building is 14 stories tall, with a helipad and one-of a kind stunning 360 degree glass penthouse designed by internationally renowned architect I.M. Pei.  The 10-floor Marion Building boasts spacious areas with great potential for those with vision. Both of the historic buildings have fallen into varying levels of disrepair over the years.  However, they feature lovely architecture, and they are located on the tree-lined Broad Street in downtown Augusta, a block or two from the Savannah Riverwalk.  In addition, the proposed 500-space parking structure behind the Lamar and Marion buildings solves the parking issue that has plagued previous attempts at rehabilitating the buildings.

The potential in the two buildings is considerable, and they can make an attractive combination of in-demand Class A living space, restaurant, retail, and possible boutique hotel.  The demand for such living is large and still growing, including an exploding young and high-tech population who appreciates the quality of life in a vibrant, southern, downtown city.

The city boasts a resurgent interest in historic preservation as well. Realizing the potential in the historic Lamar and Marion buildings, the owners enlisted Greenfield’s real estate expertise, and requested our help in valuing the sites, as well as exploring federal and state tax credits, researching the surrounding area, and selling the ownership to those whose creativity will make best use of the space.  Technology professionals, including those from several nearby corporations and huge numbers of enthusiastic cybersecurity researchers and innovators, are expected to be tenants when the buildings are renovated.

Interest has been strong, and Greenfield is enjoying connecting the people and companies involved. There is little doubt the buildings will house tenants from all walks of life who are sure to contribute to the overall vibrancy of downtown Augusta for many years to come.

To learn more about Greenfield’s economic and valuation skills, or to request the Offering Memorandum for these properties, please call 470-888-2829 or email info@greenfieldadvisors.com.