Business News Aaron's building 1

Published on February 29th, 2016 |

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Rendering released for redo of Aaron’s HQ building in Buckhead

More than 60 years after Charlie Loudermilk founded Aaron’s Rents and about 40 years after he bought the office building at 309 East Paces Ferry Road and made it Aaron’s headquarters, Charlie’s son Robin Loudermilk and his partners are embarking on a renovation of the building.

This is a rendering of the proposed renovations to the present Aaron's headquarters building on the corner of East Paces Ferry Road and North Fulton Drive.

This is a rendering of the proposed renovations to the present Aaron’s headquarters building on the corner of East Paces Ferry Road and North Fulton Drive.

Aaron’s, the company which was the Loudermilks—Charlie was last board chairman and Robin its president—is now under new ownership and moving to Cobb County.

But Robin Loudermilk and his two real estate developer partners (Knox Properties and the Redan Group) want to make 309 East Paces Ferry into an upbeat, modernized Buckhead Village office jewel by the summer of 2017.

According to the Atlanta Business Chronicle, it would become “the latest adaptive reuse project for intown Atlanta neighborhoods, as more Atlanta tenants look for less expensive alternatives to traditional Buckhead towers.”

The building has an East Paces Ferry address but fronts on North Fulton Drive, across the street from The Residences Buckhead Atlanta and The Shops Buckhead Atlanta. Robin Loudermilk told ABC, “The family feels like this is a legacy property.”

Today, Robin Loudermilk is president and CEO of his own real estate development firm, The Loudermilk Cos. His development partner Redan Group is headed up by former Cousins Properties Inc. executive Cameron Golden.

The Aaron's headquarters building that the Loudermilk Cos. and its partners plan to renovate inside and out for loft office use.

The Aaron’s headquarters building that the Loudermilk Cos. and its partners plan to renovate inside and out for loft office use.

“The renovations would convert the building into loft office space, with a brick exterior, exposed ceilings, natural light, and a waffle-like pattern of concrete beams that will stretch across each floor of the building,” according to the article.“There will also be 17,000 square feet of ground floor retail along North Fulton Street (sic).”

“This is not going to look like the typical glass box everybody knows,” Hardman Knox, managing partner with Knox Properties, was quoted as saying.

ABC predicted the “309 East Paces project could offer rents at a 20 percent to 25 percent discount from the top of the market because of the bargain price the development group paid for the property.”

The joint venture acquired 309 East Paces for $140 a foot. Towers on Peachtree Street have been trading for up to $380 to $390 a foot, according to the article.

(To read the complete Atlanta Business Chronicle story, click here.)

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