Spectrum Cauble Grows Portfolio to 11M SF

In its latest portfolio surge, the joint venture picked up a total 2.3 million sf. The JV added 1.7 million sf of industrial to its management side and added 623,268 sf of retail to its leasing and management book. Several brokerages were bidding for the new business, according to area brokers.

Charles Swain, president of Spectrum Cauble Management, tells GlobeSt.com the JV won the 2.3 million sf of management contracts by adding Dallas-based Cobalt Capital Partners, the estate of James Campbell in Hawaii and Denver-based Dividend Capital Trust as clients. Terms of the contracts weren't disclosed.

"I'm sure several firms were involved in the RFP [request for proposals] process," Swain says. "We feel fortunate to be representing these clients in the Atlanta market. We are even more fortunate that by combining our strengths with Colliers', we've been able to build a critical mass and create a profitable property management platform with a steady flow of income."

Swain says "many brokerage firms perceive property management as a 'necessary evil' to further leverage their brokerage business. [But] I believe management is the platform for future brokerage business and maintains a positive steady income stream during down cycles of the brokerage business."

On the investment side, Swain is seeing "an increase of interest from West Coast buyers. From an investment perspective, Atlanta appears to continue to be an attractive opportunity, offering better cap rates than other areas of the country."

Of the new portfolio additions, Swain says "adding quantity is all well and good, but the quality of these assets is unmatched as well.

For the estate of James Campbell, Spectrum Cauble Management will manage a metro area portfolio consisting of the 453,587-sf Airport Distribution Center on Southside Industrial Parkway; the 333,577-sf Breckinridge North Distribution Center on Breckinridge Parkway in Gwinnett County; the 138,000-sf Meadows Publix distribution center in suburban Alpharetta; and the 436,000-sf Tradeport Distribution Center on International Parkway in suburban Hapeville.

For Cobalt Capital Partners, Spectrum Cauble will manage a metro area industrial portfolio consisting of the 70,720-sf 120 Interstate West building in Lithia Springs; an 85,200-sf industrial/distribution building at 4444 Shackleford Road in Norcross; a 100,380-sf building at 5255 Fulton Industrial Blvd.; and 5355 Bucknell Dr., a 72,098-sf building in Atlanta.

Spectrum Cauble's retail portfolio has added Albany Cross Station, a 165,384-sf shopping center on Dawson Road in Albany; and Cartersville Crossing, a 140,000-sf center on Main Street in Cartersville.

Other additions to Spectrum Cauble's retail portfolio include Parkaire, a 219,739-sf shopping center owned by Toronto-based Sun Life Assurance of Canada in Marietta; Mill Creek Station, a 35,894-sf shopping center in Buford owned by Louisville, KY-based Dahlem Enterprises; and Publix Jonesboro Corners, a 65,251-sf shopping center in Jonesboro owned by a private investor.