The former Siemens-Westinghouse property at 17th and Northside Drive has been sold to Houston-based The Lionstone Group for $19 million, according to real estate services firm Databank. While the buyer has only recently begun to explore the scenarios for the nearly 7-acre property, plans could run the gamut, from adaptive reuse as office and wholesale showroom to development as a mixed-use project.
The seller was represented by Steve Barton of CB Richard Ellis Inc. The Lionstone Group was represented by CB's Nelson Kramer and Bruce Lanehart. Kramer and Lanehart are also marketing the property for Lionstone.
The former Siemens-Westinghouse site bridges the retail, office and residential development blossoming in the Atlantic Station area with the ongoing rejuvenation of Midtown West, which has begun to attract new residential growth.
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source: bizjournals.com
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