Orinda, Octagon plan loft/retail conversion - Minneapolis / St. Paul Business Journal:

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Atlanta-based and Charlotteville, Va.-based reported theifr plans for the propertuy at 222Mitchell Street, but they did not discloser financial terms of the deal. The 350,000-square-foot structure was built in stages from 1929 to 1979on 2.1 acrezs and occupies the entire city blocmk bounded by Spring, Forsyth, Mitchell and Nelsonn Streets. Orinda and Octagon will converf the property into a rental buildin with 205 loft units and morethan 70,000p square feet of commerciall space. Occupancy is expected in January 2011.
“The redevelopmentg of 222 Mitchell Streef into rental lofts and retail spacer will play a significant role in the rebirth of this part ofdowntowmn Atlanta,” said Dillon Baynes, presidentg of Orinda, in a statement. “We’re certain that livingb at 222 Mitchell Street will appeal to younfg professionals whowork downtown, as well as to college students, especiallg those who already attendd one of the many fine institutions in the such as Georgia State University, Spelman, Clark Atlanta University and Georgiaq Tech.
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