Pursley Friese Torgrimson Negotiates $31.9M in Office, Retail & Industrial Leasing Transactions

Second Quarter Leasing Transactions Involve 875,000SF Across Seven States; Commercial Real Estate Law Firm Named for the Second Consecutive Year Among “Atlanta’s Best and Brightest Companies to Work For”
By: Pursley Friese Torgrimson LLP
ATLANTA - June 30, 2014 - PRLog -- Pursley Friese Torgrimson, the Atlanta-based law firm that represents commercial real estate and business clients in transactions and litigation, today announced that its transactions team completed $31.9M in leasing transactions involving office, retail and industrial properties during the second quarter of 2014. The 35 closed deals involved a total of 875,000 rentable square feet across seven states. The National Association for Business Resources also recognized the real estate law firm for the second consecutive year as one of “Atlanta’s Best and Brightest Companies to Work For.”

“We’ve seen a steady rise in commercial real estate transactions activity across the Southeast during the past three months. All types of real estate are trading which creates significant opportunity,” notes Stephanie Friese, founding and managing partner of Pursley Friese Torgrimson. “With a stronger demand, it’s even more critical that businesses leverage expertise to help craft strategic and cost-effective transactions.”

Included in the firm’s total transactions for the quarter were leases and amendments totaling more than 112,000 square feet of office space and more than 190,000 square feet of industrial space for $5.2M negotiated by Attorney Louis Papera. Papera also closed an office space lease amendment for a 50,000-square-foot extension and 24,000-square-foot expansion.

Friese and attorney Christine Norstadt completed the disposition of a 47,000-square-foot building for $2.3M. Plus, the transaction team recently expanded real estate support services for businesses to include lease abstracting. Paralegal Van Clements concluded a lease abstract project for a major industrial property owner representing 35 tenants and more than a million square feet.

The litigation team of Pursley Friese Torgrimson also reported more than $6.8M in judgments, collections and settlements for its clients during the second quarter of 2014:

Real Estate Foreclosures, Dispositions
Lending institutions of all sizes are working with Pursley Friese Torgrimson when they require representation related to closings, acquisitions, workouts and foreclosures. Friese, Norstadt and attorneys Jim Friese and Monica Owens and Angela Robinson won summary judgments in the U.S. District Court, Northern District of Georgia against the maker of a promissory note to a failed lending institution. Two separate cases resulted in a $4.5M judgment and a $1.19M judgment.

Friese, J. Friese and Robinson obtained a prompt dismissal of a suit involving a notable foreclosure of real property filed against a client in the U.S. District Court, Northern District of Georgia within 90 days of the suit being filed.

Real Estate Litigation Including Private Property Condemned for Governmental Use
In addition to advocating for property owners when their property is condemned for governmental use, Pursley Friese Torgrimson also represents property owners in real estate-related disputes. Partner Charles N. Pursley Jr. and Robinson mediated and settled a partial taking condemnation case for a property owner for more than 220% above the condemnor’s appraisal --- plus the release of a permanent easement for construction and maintenance of slopes within a parking area of the commercial property.

Managing Partner Christian Torgrimson teamed with Robinson to settle a partial taking condemnation against their client, a local franchise business owner, securing a 50% increase in compensation for damages to real estate and business. The two attorneys also resolved the partial acquisition of a commercial shopping center prior to litigation, resulting in additional compensation and signalized intersection access for the client.

Attorney Monica Owens, working with Torgrimson, resolved an adverse possession dispute and prevented threatened litigation for a multinational restaurant business client. They also resolved a boundary line dispute between private residential owners prior to litigation.

Owens helped a landlord client secure full amount of unpaid rent and expenses owed by a defaulting tenant; favorably defend her property-owner client against a quiet title action and challenge to a foreclosure sale; and she obtained eviction and dispossession of tenants from a client’s commercial office building. She also helped foreclose on real property and subsequently execute the dispossessory of a litigious holdover tenant, defeating the efforts of the tenant to prevent her lender client from taking possession of the property. The matter involved three civil actions filed in three courts over a two-year period.

Pursley Friese Torgrimson advocates for businesses of all sizes on real estate matters that are transactional or involve litigation. Contact a member of the commercial real estate law firm to discuss your real estate business challenge at 404-876-4880.

About Pursley Friese Torgrimson LLP
Legal excellence is one of the reasons why businesses and real property owners choose Pursley Friese Torgrimson. Pursley Friese Torgrimson applies strategic insight to achieve meaningful results for businesses and the real estate community in the United States. The firm’s business-oriented approach is practical and fiscally responsible in resolving challenges that are transactional or involve litigation at trial or alternative dispute resolution.

The women-owned, women-managed law firm advocates on behalf of businesses and property owners, corporate real estate executives, real property investors and brokers, landlords, tenants, franchisors/franchisees, property managers and brokers as well as financial lending institutions.

U.S. News & World Report ranks Pursley Friese Torgrimson among the nation’s Best Law Firms for 2014; the peer-review publication Best Lawyers® ranks the firm’s attorneys among the nation’s Best Lawyers in America for eminent domain and condemnation; and the firm is recognized as one of Atlanta’s “Best and Brightest Companies to Work For” according to the National Association for Business Resources, which identifies and honors organizations that demonstrate a commitment to excellence in their human resource practices and employee enrichment. Contact Pursley Friese Torgrimson at 404-876-4880 or info@pftlegal.com.

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Maxine Buchman
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Tags:Commercial Real Estate, Lease Transactions, Land Condemnation, Real Estate Litigation, Eminent Domain
Industry:Legal, Real Estate
Location:Atlanta - Georgia - United States
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