News
Atlanta, Ga. (April 4, 2024) – Foundry Commercial, a full-service commercial real estate firm, continues to grow its presence in Atlanta with the strategic hire of Mark Lindenbaum to the position of Managing Director. Lindenbaum, who brings over 20 years of diverse CRE experience to the firm, bolsters the continued momentum of Foundry’s capital markets business lines. Tasked with leading the Atlanta office’s Land Advisory group, he will also work closely with Foundry’s Development & Investment platform, which currently has $1.5 billion under construction across the Sun Belt markets.
Lindenbaum brings extensive experience and an impressive track record to the firm, having facilitated some of the most high-profile development projects in the Southeast, including New City’s 10-acre, $2 billion Fourth Ward project on the Atlanta BeltLine and Nashville’s River North neighborhood, where Oracle has planted a flag with the purchase of nearly 63 acres for $253 million.
“There are fundamental shifts in the way we’re using commercial property, forcing owners and investors to rethink strategies,” said Lindenbaum. “I was fortunate to be involved in several projects leading the transformation of brick-and-mortar retail coming out of the Global Financial Crisis, and now I’m seeing a similar transformation in the office and industrial sectors.”
With office vacancy rates at all-time highs, building owners are forced to make tough decisions about the future of their properties. Community leaders recognize aging office and retail buildings are development targets, but often need to be educated on the benefits of rezoning and redevelopment. “There is considerable value-add opportunity, but finding equitable solutions for owners and community stakeholders is the key to a successful outcome,” Lindenbaum added.
“In today’s environment of unprecedented change, understanding land value and “what could be” is arguably the key to unlocking opportunities in this cycle. Mark has an incredible track record already and will now elevate our development and investment efforts in Atlanta and beyond,” said L.G. Gellerstedt, Atlanta Market Leader for Foundry Commercial.
Lindenbaum’s hire comes on the heels of several additional wins and key hires within Foundry’s Land Services platform, which has accumulated over $3 billion in transactions, 400+ total land deals, and 13,800+ total acres across North America.