Issuu

June 2015 • NorthAtlantaBusinessPost.com

HALL COUNTY MARKET REPORT:

Blossoming in Hall

The region’s newest attraction sprouts up in Gainesville. PAGE 3B

Rapidly diversifying economy Hall County making waves in new areas. PAGE 1B

Volume 2, Issue 6 • Cherokee • Cobb • Forsyth • Fulton • Gwinnett • Hall • An Appen Media Group Publication

Interchange change

I-285/Ga. 400 cleared for $1.1 billion makeover. PAGE 21A

Leading the way

SOLAR POWER RISES WITH THE SUN Solar energy has gained popularity in recent years, and it shows with the amount of companies relying on it in Metro Atlanta. DataScan Technologies in Alpharetta went solar in 2010 and generates about five percent of its total energy consumption at the site through solar energy, saving them money. Read more, Pages 16A - 17A.

Night of fun, networking at Leadership Summit. PAGE 28A

Taste of Italy

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Colletta opens new restaurant at Avalon. PAGE 30A

Roswell Inc Presents Development Awards & 2014 by the Numbers For more information see page 8A

2A • June 2015 • NorthAtlantaBusinessPost.com

WELCOME

NorthAtlantaBusinessPost.com • June 2015 • 3A

Letter from the publisher This has been a busy month for us at Appen Media Group – including putting together this edition of the North Atlanta Business Post, which is my favorite edition to date. This edition also marks the last edition of “year one” of the publication, and I hope we have provided you all – our advertisers and readers – a product you can be proud to call your own. We have put a lot of hard work into making it happen and appreciate your support along the way. I hope we can depend on you again for year two! This edition focuses primarily on technology in the region. The cover story touches specifically on how innovation in solar energy technology is literally powering business growth for some of our local companies. In an increasingly competitive global market, we must continue to find ways to stay competitive and ahead of the curve. We also have some wonderful organizations in the north metro area that are doing their part to support and tell the story of the tremendous growth we have seen, especially recently, in the tech industry. The Greater Alpharetta Tech Network, Technology Association of Georgia and all of the local and regional chambers of commerce are working hard to foster the growth and development of the tech sector in the region. The combina-

tion of the right infrastructure, proximity to the airport, a positive business climate and critical mass on the education side of the equation all add up to a bright future in the tech sector here on the north side. We are planning a number of new components for the Post in our second year. Our first Business Post-sponsored Leadership Summit was a huge success and we anticipate a number of additional events. We’ll be looking at an issue that identifies the top players on the north side – all under 40 years old – and we’ll be reaching out to a number of you to participate in this undertaking. It should be a lot of fun and an incredible opportunity for all those who become involved in the project. Thank you for your steadfast support in the inaugural year of the Post and look for great new ideas, resources and business news to come.

Hans Appen hans@appenmediagroup.com General Manager, Appen Media Group

Meet the staff

Hans Appen, Publisher

A.J. McNaughton Production/Newsroom Manager OWNERS Ray & Christina Appen EDITORIAL Jonathan Copsey Hatcher Hurd Joe Parker Kathleen Sturgeon Shannon Weaver PRODUCTION David Brown Suzanne Pacey

Pat Fox Editor

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The future of solar energy has a sunny outlook, and it’s already shining brightly in North Fulton. More and more companies are adopting the alternative source for energy,

including DataScan Technologies in Alpharetta, a floorplan inventory verification and car inspection company. The company is a subsidiary of JM Family Enterprises, which serves as North American ambassadors for Toyota.

your sales representative at 770-4423278 or email hans@appenmediagroup.com. Newsroom: All press releases and editorial information can be sent to

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New uses for old technology; Tech businesses find homes on the Northside. PAGE 12A

Tech group seeks more capital investment in Georgia. PAGE 14A

Tech-funding experts offer insights into securing capital. Page 18A

NEWS

4A • June 2015 • NorthAtlantaBusinessPost.com

Market factors dampen impetus for immediate Fed rate hike By PATRICK FOX pat@northatlantabusinesspost.com With economic indicators pointing upward, general consensus among financial markets is predicting the Fed will hike interest rates sometime this year. When the liftoff occurs, and what its effect will be on the economy has been subject to widespread speculation. While the Fed itself issues only hints about future money-tightening policy, one insider predicts that the nation will see its first hike in nine years this September. The last time the Fed raised rates was in 2006. Since then, the Fed has instituted a series of rate cuts to spur the economy through its worst recession in more than a generation. The Fed’s benchmark short-term interest rate now stands at 0 percent. Speaking at the May Economic Forecasting Conference May 20 at Georgia State University, Kevin Kliesen, staff economist for the St. Louis Fed, said the response to Fed rate hikes tends to be exaggerated. “This talk and decision to raise rates has often evoked tremendous criticism of the Fed and its actions,” Kliesen said. “We hear some congressmen and senators say there’s never a good time to raise rates.” This criticism ignores the mission of the central banks, he said, which is to manage the economy, providing liquidity to grow the economy while keeping inflation in check. He added that the decision to change interest rates is debated intensely. While many economists predicted a rate increase in

the first quarter of 2015, the rate of inflation has actually fallen in the past year, thanks largely to the drop in oil prices. Plus, the rising value of the dollar in overseas markets has put a drag on the economy. “My expectation as a forecaster is that as oil prices come up, just arithmetically you’re going to get inflation moving up,” Kliesen said. When the hike does come, history has shown that the move leads to stable growth in both the financial markets and the GDP, he said. “Markets have almost always underestimated the magnitude of Fed tightening,” Kliesen said. In three of the last four major tightening episodes (1988-89, 199394, 1999-2000 and 2004-2006), financial markets have predicted lower tightening than what actually occurred. Kliesen said historical data garnered by combining all four recent Fed tightening episodes suggests that the corporate yield spread (a key measure of risk in the financial markets) initially goes down in the first six months following a Fed rate increase. It then begins a steady climb upward. A similar effect is registered by the S&P 500. The index tends to rise slightly before the tightening, then drops slightly and plateaus for about four months before starting a sharp and steady climb. Data also shows that the economy generally improves during the first year of the tightening, but then gives way to slower growth. Stock prices tend to peak after the economy begins to slow. “So, just lifting off does not mean automatically that the stock market is going to tank,” he said.

S INES POST’S S U

NORT

Know someone turnings heads in your area?

Kevin Kliesen, Federal Reserve Bank of St. Louis, predicts a rate hike in September. Kliesen was one of the guest speakers at the May 20 Economic Forecasting Conference at Georgia State University.

About the Program North Atlanta Business Post’s “40 under 40” is unique in that the nominees are submitted by the six counties in our coverage area chambers of commerce. These chambers include Cobb Chamber of Commerce, Cherokee County Chamber of Commerce, Cumming-Forsyth County Chamber of Commerce, Greater North Fulton Chamber, Greater Hall Chamber of Commerce and Gwinnett Chamber of Commerce. Nominations are open from July 1 and run through September. After the nominations are in, the fun begins. North Atlanta Business Post will organize an after hours networking event where all the nominees can meet, mingle and let loose. The finalist will be announced in October, and then North Atlanta Business Post will host the awards ceremony at which the finalists will be encouraged to collect their award.

Nominations begin July 1 For nominations, visit: NorthAtlantaBusinessPost.com/ people/40under40

Do you know someone under 40 years old who is doing great things? Nominate them for North Atlanta Business Post’s “40 under 40.”

More information, email aj@appenmediagroup.com

NorthAtlantaBusinessPost.com • June 2015 • 5A

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NEWS

6A • June 2015 • NorthAtlantaBusinessPost.com

Apartments struggle getting through front door of downtowns By PATRICK FOX pat@northatlantabusinesspost.com ALPHARETTA, Ga. – There’s nothing new in the controversy surrounding apartments approved recently for Alpharetta’s new downtown. The 5-2 decision in favor of allowing 165 for-rent units in the City Center drew heat from both residents and members of the City Council. But apartments are often a major consideration in like projects around the region. Sugar Hill, which is in the middle of a massive redesign of its downtown, is calling for more than 100 apartments as part of its plan. “We do have a development we are working on that will be going potentially on the west side of City Hall that will have about the same number of apartments (as called for in Alpharetta),” said City Councilman Brandon Hembree. “A thriving commercial district needs people.” Already, the city has opened its new $15.5 million City Hall and an amphitheater, and it has completed a large amount of streetscape work. The second phase of its downtown redesign will include 30,000 square feet of commercial space, restaurants, a

Smallwood, Reynolds, Stewart, Stewart and Associates

The concept for the downtown Alpharetta City Center includes retail and restaurants as well as office space and 165 apartments. community theater, a recreational gym, meeting space, as well as nightlife options. “We’re going after Millennials, and that demographic is looking for that type

of housing,” Hembree said. “It’s not really provided in our area.” The Sugar Hill Epicenter project calls for a parking deck in the middle of the development surrounded by the com-

mercial. The city owns most of the property currently between Temple Drive and

See APARTMENTS, Page 7

NEWS Apartments: Continued from Page 6 Hillcrest Drive, the two roads between which the development will sit. “The exact arrangements haven’t been reached with the developer, but we will likely sell that to the developer,” Hembree said. Nearby in Suwanee, original plans for the city’s new downtown, which was completed in 2009, called for allowing apartments in the refurbished district. But the developer at the time opted for townhomes instead because of market conditions, said City Manager Marty Allen. Currently, the city has about 10 percent of the 600-acre downtown district occupied with residential space, including 100 townhomes, 100 single-family detached and 31 residential above retail. There are currently no apartments in the district. Smyrna, which began its downtown redevelopment in 1991, opted for small, single-family homes in its plans. “It was a different treatment, with a shared driveway behind all of them,” said city spokeswoman Jennifer Bennett. “Apartments were a part of that, but then townhomes were added in one of the nearly final phases.” There are 16 townhomes over office and retail space.

NorthAtlantaBusinessPost.com • June 2015 • 7A

“A lot of the downtown redevelopment was public-private partnership, and the Market Village portion of that came around 2003,” she said. The apartments that do exist in the downtown district pre-date the redevelopment. Smyrna had a moratorium on apartments through the duration of the downtown master plan. Today, luxury apartments are planned as part of the nearby Bellmont Hills redevelopment, a 48-acre mixed-use development at the junction of Windy Hill Road and Atlanta Road. “We consider this an extension of Downtown Smyrna,” Bennett said. The Bellmont Hills development calls for community green space, walking paths, ponds, restaurants and shops. It also calls for 276 luxury apartments. Over the years, Smyrna has worked to reduce its ratio of apartments to single-family homes, which at one point stood at close to 50 percent. Back in 2010, the city purchased the 726-unit Hickory Lake apartment complex that sat on a 48-acre parcel along Windy Hill Road not far from downtown. The city razed the apartments and has since re-sold the property to a developer who is planning to build single-family homes. “So, any addition of luxury apartments now, often the numbers are much smaller, like 274 units,” she said.

Georgia’s good job numbers belie drop in buying power By PATRICK FOX pat@appenmediagroup.com ATLANTA – Georgia’s job numbers improved in 2014, but those jobs aren’t producing the consumer purchasing power they once did, according to Rajeev Dhawan of the Economic Forecasting Center at Georgia State University’s J. Mack Robinson College of Business. In his quarterly economic forecast released this month, Dhawan said there are signs high-paying jobs will lift local economies down the road. “Georgia’s gain of 145,000 jobs in calendar year 2014 is impressive,” Dhawan said. “However, those 145,000 jobs being created aren’t giving the economy nearly as big of a bang for its buck as it did back in the 1990s when slightly fewer jobs, but with greater purchasing power, were created.” Local corporate firms have made announcements that will enhance future purchasing power, he said, including 900 jobs at Kaiser Permanente and Comcast’s addition of 1,000 jobs at their new facility going in near the new Braves stadium. He said he also expects strong results from the information and technology sector due to a string of recent job announce-

ments from Amazon Web Services, PureCars, Mobinteg, Cisco, Amtrak, Southern Company and Applied Systems. “This is good news to the future purchasing power potential because these jobs, after all, are high-paying,” Dhawan said. On the local front, Dhawan also noted: • Georgia’s job creation slowed to 1.8 percent for the first quarter of 2015. Expect a job growth rate of 2.9 percent in 2015, which moderates to 2.3 percent in 2016 and 2.2 percent in 2017. • Nominal personal income will increase 4.7 percent in 2015, and then 5.2 percent in 2016 and 5.8 percent in 2017. • Strong employment growth continued in Atlanta, growing by 2.9 percent in the first quarter of 2015. Expect a job growth rate of 3.4 percent in 2015, a strong 2.7 percent in 2016 and 2.6 percent in 2017. • Atlanta’s housing permits increased 3.5 percent over the first quarter of 2015 compared to the same period in 2014. For 2015, permitting activity will increase 6.4 percent.

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NEWS

8A • June 2015 • NorthAtlantaBusinessPost.com

EDITORIAL CALENDAR 2015 Issue Date

Space Reservation Date

Materials Deadline

July 2015 - Commercial Real Estate/CID • By the numbers: Commercial Real Estate • Who owns the big buildings? • Overview of CIDs

July 6

June 25

June 29

By JESSICA DIAMOND Roswell Inc communications coordinator

August 2015 – Banking and Finance • North Fulton Market Report special focus • Improve your company’s cash flow • The evolution of the banking industry

Aug. 10

July 30

Aug. 3

September 2015 – Health & Medical • By the numbers: Top hospitals/best practices • Behind the medical trends and the companies leading the industry • Best managed hospitals • Taking charge of your office health, what wellness programs are businesses offering workers

Sept. 8

Aug. 27

Aug. 31

Oct. 1

Oct. 5

October 2015 – Higher Education • Forsyth Market Report special focus • By the numbers: Top colleges

Oct. 12

November 2015 – Retail • The Design: Unique approaches and solutions to design challenges – new ideas in design from buildings, brand identity to technology • B2C: Marketing strategies and retail realities • What local leaders are doing to develop a retail district in their community

Nov. 9

Oct. 29

Roswell Inc presents Community Development Awards

Nov. 2

Call 770-442-3278 to reserve your ad space today! www.NorthAtlantaBusinessPost.com

At the recent 24th annual Roswell Convention and Visitors Bureau (CVB) and Roswell Inc Board of Directors Dinner and Community Awards, Roswell Inc was proud to present our 2014 Annual Report Card, as well as recognize some community leaders who have done exceptional work in Roswell in recent years. This year, Roswell Inc distributed two awards to two exceptional professionals who are doing great work in the field of economic development. The Young Professional of the Year award went to the president of Lehigh Homes, Brendan Walsh. His achievements include the impressive Providence neighborhood, a community of townhomes behind Canton Street, as well as serving on the board of Roswell NEXT as one of its founding members. Brendan pushed the envelope with his company to focus on creating urban atmosphere and connectivity. Because of projects like his, people in Roswell have the ability to live closer to where they work and play. His energy and passion are helping push Roswell into the future. The economic development award went to Lennar Multifamily Communities, represented by Chris Cassidy. This company is responsible for Roswell City Walk on Frazier Street. It’s an honor for a company like Lennar to invest so much time, money and vision into Roswell. This $46 million endeavor is a showcase for the kind of community Roswell is growing into. These luxury condos provide much needed housing for the variety of skilled professionals who come here looking for a higher quality of life. After presenting the awards, Roswell Inc presented a report of their most recent numbers. As of Dec. 31, 2014, Roswell is home to more than 5,477 businesses. This number includes everything from the home-based entrepreneurs to the major corporations. Last year alone, 542 new businesses licenses were issued. Roswell’s Opportunity Zone (OZ) has

Roswell Inc continues to encourage quality development and redevelopment of properties around town. Last year, 182 construction permits were issued with a combined value of $77,884,151. been a huge draw for Roswell, promoting job creation and utilizing tax incentives to help businesses succeed. Roswell Inc has personally assisted in the OZ certification process. To date, there are over 180 businesses in the OZ. In 2014, this incentive helped create more than 1,345 jobs. The vacancy rates for office space in these areas has significantly reduced. Within the OZ, vacancy rates have reduced from 14.9 percent in 2013 to 12.8 percent in 2014. Vacancy outside of the OZ has reduced as well, from 12.8 percent to 11.3 percent in the last year. Roswell Inc continues to encourage quality development and redevelopment of properties around town. Last year, 182 construction permits were issued with a combined value of $77,884,151. It was a proud and productive year for Roswell Inc, and they will be launching new programs and events in late 2015 – so stay tuned! Event sponsors included Century 21 – Connect Realty, Frontdoor Communities, Georgia Power, Bank of North Georgia, Herbert Sparks Law Group, T-Mobile, Northside Hospital Imaging Services, Mimms Enterprises, Gas South, Renasant Bank and Carl Black GMC Roswell.

NorthAtlantaBusinessPost.com • June 2015 • 9A

JOIN US

RIBBON CUTTINGS

10A • June 2015 • NorthAtlantaBusinessPost.com

New businesses in your area

Did your business recently cut a ribbon? Submit it to business@appenmediagroup.com

Business: Youthtopia Med Spa New ownership: March 2015 Owner: Tracy Olson Address: 11340 Lake Field Drive, Suite 100, Johns Creek

What: World-class skin rejuvenation and total body wellness spa. Phone: 770-772-4806 Website: www.youthtopiamedspa. com

Business: Wilbur and Rudy’s Farmtable Market Opened: May 2015 Owners: Ryan and Beth Bowersox Address: 850 Hickory Flat Road, Milton

What: Organic coffee shop and cafe, farmers market with organic produce, retail grocery, antiques, gifts and more. Phone: 877-201-2601 Website: www.farmtablemarket.com

Business: Just About Me Fitness Opened: February 2015 Owner: Mike Prosnick Address: 4620 Kimball Bridge Road, Alpharetta

What: A time-efficient, results-driven, 30-minute workout facility that is tailored to your level of fitness. Phone: 770-559-7555 Website: www.jam.fitness

Business: Bloor Dentistry Relocated: March 2015 Owner: Dr. Priti Bloor What: This is a practice offering family dentistry.

Address: 45 Roswell St., Suite A, Alpharetta Phone: 770-663-4435 Website: www.webuildgreatsmiles. com

Business: The Carriage House (along with Cathie Cox Designs LLC) Opened: Wednesday, April 22 Owner: Cathie Cox What: A sophisticated cottage offering interiors, consignment and design

service. Where: The blue doors of the existing Matilda’s Cottage, 377 S. Main St., Alpharetta, Ga. 30009 Call: 770-714-2721 Website: www.galeriematilda.com

Business: TherapyLand Opened: May 2, 2015 Owner: Cheri and Thane Brooks What: Children’s occupational, physical and speech language therapy.

Where: 6505 Shiloh Rd., Suite 100 Alpharetta Phone: 678-648-7644 Website: www.TherapyLand.net

Business: Atlanta Veterinary Specialists Opened: March 2015 Owner: Dr. Mary P. Schick, DVM, DACVD Address: 7350 McGinnis Ferry Road,

Johns Creek What: AVS provides advanced emergency and specialty care. Phone: 770-407-3000 Website: www.atlvet.com

Business: Desu Couture Consignment Opened: Grand re-opening; Feb. 2015 Owner: Christina Sczurek What: Desu Couture offers high end, luxury and trendy labels at great

prices. Where: 5530 Windward Parkway Suite 1240 in Alpharetta Phone: 404-985-7580 Website: www.desucouture.com

SOUND ADVICE

NorthAtlantaBusinessPost.com • June 2015 • 11A

Wealthy population continues upward climb

Mailbox moo-la and the real estate cash cow

world’s largest economy. Ultra-wealthy individuals hold nearly 25 percent – an extremely high proportion – of their net worth in cash. The majority of the millionaires are self-made and are involved in founder-owned private businesses, according to the report. The value of these private company holdings represents almost twice the amount that they hold in public company stakes. The report also predicted that the global UHNW population will reach 250,000 individuals in the next five years, an increase of 18 percent from last year’s figures.

main reason is that the unit can be bought cheaper than a single-family home due to lower land and development costs per unit. Because of this, that lease rate ratio comes closer to 1 percent. So, a multifamily unit that is purchased for $75,000 might produce a rent of $750 per month. Using the same parameters from the singlefamily home example, this unit will produce cash flow of $170- $205 per month, depending upon the county location. As you can see, this small deviation in the lease rate ratio produces a sizeable difference in monthly cash flow; thus, making the multifamily investor primarily a cash flow investor. Another factor for the investor to consider is the exit strategy, which is how to dispose of the investment when they are ready. The net worth investor, who is buying single-family homes, will be selling his investment to a retail buyer. A retail buyer is someone looking to purchase the home to live in. This buyer market is generally fairly stable since there are a lot of them in the marketplace. Thus, it provides a little more liquidity for the net worth investor since the property is easier to sell. Additionally, this buyer may buy on emotion and doesn’t care how well the house produced as a rental or what the investor paid for it. So, the investor, in a good market, can ask top dollar for the property no matter how well he managed it as a rental. On the other hand, the cash flow investor is almost always selling to another investor. This may be an investor who bases most of his decision on the income of the property. The cash flow investor won’t have the luxury of stretching the fair market value. The purchaser will only pay what the rents dictate. So, while there are many opportunities in this new market cycle, potential investors must decide which route they want to take. Do they go with the direction of slow and steady and hope for a big pay day, or do they look to cash in the pocket today with less excitement in the end? These are questions that every investor, whether big or small, eventually must answer for themselves.

Frank Norton Jr.

CEO and Chairman The Norton Agency

Editor’s note: This is part of a series of excerpts from Frank Norton Jr.’s “Norton Native Intelligence Report for 2015.” The number of billionaires hit a record high in 2014. A new survey shows that 155 new billionaires were minted last year pushing the total population to a record 2,325 – a 7 percent increase from 2013. Credit goes to the United States – home to the most billionaires globally – where 57 new billionaires were recorded, according to the Wealth-X and UBS Billionaire Census 2014. Asia and Latin America and the Caribbean were also large contributors, with 52 and 42 new entrants, respectively. “The fastest-growing segment of the billionaire population, in terms of wealth source, are those who inherited only part of their fortunes and became billionaires through their own entrepreneurial endeavors,” the report said, noting that 63 percent of all billionaires’ primary companies are privately held. The combined wealth of the world’s billionaires increased by 12 percent to $7.3 trillion, higher than the combined market capitalization of all the companies that make up the Dow Jones Industrial Average. The average billionaire is 63 years old, with a net worth of $3.1 billion. The report noted that most wealthy individuals do not reach the $1 billion threshold until their late 40s. Almost 90 percent of male billionaires are married, 6 percent are divorced, 3 percent are single and 2 percent widowed. For male billionaires, the top five industries are finance and banking, industrial conglomerates, real estate, manufacturing and textiles and apparel and luxury goods. Sixty-five percent of female billionaires are married, 10 percent are divorced, 4 percent are single and 21 percent widowed. The rich hoard cash as their wealth reached a record high in 2014. About 12,000 of these new ultra-high net worth individuals were minted in the year ending June 2014, said the Wealth-X and UBS World Ultra Wealth Report. This meant a 6 percent increase from last year, which pushed the global population of these millionaires to a record 211,275. With the annual gross domestic product of the United States closing in on the $17 trillion mark, according to the World Bank, this means that the ultra-rich now have almost twice the wealth of the

The combined wealth of the world’s billionaires increased by 12 percent to $7.3 trillion, higher than the combined market capitalization of all the companies that make up the Dow Jones Industrial Average. North American and Europe continue to dominate the survey, with the United States maintaining its position as the country with the most ultra-wealthy individuals with a total 69,560. Asia will be the region that sees the fastest growth in ultra-wealthy individuals, it added. There are more millionaires in the United States than ever before. The number of households with a net worth of $1 million or more, excluding their homes, is at a record 9.63 million. This eclipses the old mark of 9.2 million in 2007 before the global financial meltdown. The tally of millionaires slipped to 6.7 million in 2008 at the financial crisis trough. The number of households with $25 million or more also is at a new high of 132,000 and the number of families with $100,000 or more continues to climb. It’s now at 38.6 million, up from 37.4 million in 2012 and 31.2 million in 2008.

Brian Patton

bpatton@ccim.net

The times are good for investors. Real estate values have dramatically improved, rents are way up and the economy is improving with the drop in oil prices. Many homeowners during the recession were forced to stay in the rental market because they couldn’t, or wouldn’t, sell their house at a loss. The improved economy has been a huge relief for these landlords who have suffered under stagnant rents and fewer prospective tenants. But, no matter how they wound up as investors, most fall into one of two camps: net worth investors or cash flow investors. Many investors initially gravitate to single-family homes. This is an easy category to understand for most people and they are comfortable with the lingo of single-family homes. Whether they know it or not, this category of investor is generally a net worth investor. A net worth investor is one that makes money over a long slow period of time, and very little on a month-tomonth basis. They build “net worth” slowly while the property appreciates in value. The single-family home simply isn’t going to produce a large return except in the long run. The reasons are many, but the simplest is that the average home will produce about .75 percent per month in rent of its value. This is my personal rule of thumb and it fluctuates according to market cycles. Based on this rule of thumb, a home valued at $150,000 will produce a monthly rent generally around $1,125. Given a down payment of 10 percent, a 7 percent 30-year mortgage, property taxes and insurance costs, that home will produce anywhere from $6 – $73 per month, depending upon the county location, in net cash flow before repairs and vacancies. So, the net worth investor is banking on the fact that single-family homes in the past have appreciated in value and hopes to someday capitalize on that trend. The second type of investor, the cash flow investor, looks to real estate investments that produce more cash flow on a monthly basis than in the long run. In other words, they may give up future appreciation for money in their pocket today. Multiple-family units, such as duplexes, quads or apartments, generally fit this bill. The

Brian Patton, CCIM is an author of the book, “Mailbox Moo-la, How Real Estate Cash Cows Put Money in Your Mailbox.” He is a trusted advisor on commercial real estate investments and development. He can be reached at 770-634-4848 or via his website: www.BrianPattonCommercial.com.

TECHNOLOGY

12A • June 2015 • NorthAtlantaBusinessPost.com

On the cutting edge:

New uses for old technology Tech businesses find homes on the Northside graphics to a feed is augmented reality. For iQagent and its founder, Bob Meades, this technology can be used in a number of new ways, but notably in the ALPHARETTA, Ga. – Technology is conmanufacturing industry. stantly changing, and this forces existing iQagent allows a user companies to change with a tablet computer to with it. It also creates an point its camera at a maopening for new compachine and be able to tell nies to come in with new vital information about and different ideas. it – everything from how One such company fast something is rotting is iQagent, based in to what model number Alpharetta. They have it is. created a mobile app that Meades said this can uses technology called be vital for manufactur“augmented reality” ing. in manufacturing and If there is a problem industrial settings. with a machine, the emAugmented reality is ployee who is sent to fix not a new technology. In it might not be familiar essence, it is using a live with how the machine video feed and adding works or how to fix a computer-generated imparticular part. ages on top of it. A simple They would need eiexample is watching footther a manual or instrucball games on TV. The tions. first down line is yellow With iQagent, they can on the screen, but differ- Karen Cashion, president of ent on the field. There are the Greater Alpharetta Tech use the tablet to access a manual on screen or even also logos and informaNetwork send a video of the issue tion on the screen that over wireless to someone the players and those in who does know what the issue is. the stadium cannot see. This addition of

By JONATHAN COPSEY jonathan@appenmediagroup.com

“There’s a lot going on [in Alpharetta] that has either direct impact to technology companies or is interesting for them. It’s exciting to be here.”

Alpharetta start-up technology company iQagent is on the cutting edge of technology, using an augmented reality app to help the manufacturing process. They say North Atlanta is a perfect place to locate.

In essence, a technician can virtually look over the shoulder of a floor worker while they tackle a problem. “When tablets like the iPad first came out, we started seeing a shift in the way people were thinking,” Meades said. “[But] the manufacturing industry has been slow to adopt laptop computers and wireless technologies. That’s changing,” He said he already has several large, multinational clients using the technology, including clients in the automotive and pharmaceutical industries. iQagent’s cutting edge concept and decision to locate in North Atlanta makes sense to Karen Cashion, president of the Greater Alpharetta Tech Network (GATN). GATN aims to engage and foster the growth of Alpharetta’s technology industries. With close to 900 tech companies in and around the city, the need for communication and connections between them is evident.

“There is a long list of offerings here for technology companies,” Cashion said. The Avalon mixed-use development is the first “gigabit community” in the state, offering the fastest Internet speeds available. It will also soon house a conference center and new hotel, allowing large companies to hold events in Alpharetta rather than downtown. There is also what GATN itself offers. An innovation center was recently opened in Alpharetta to foster new ideas and communication among companies, especially startups like iQagent. “There’s a lot going on here that has either direct impact to technology companies or is interesting for them,” she said. “It’s exciting to be here.” For more about iQagent, visit them online at iqagent.com. For more about GATN and upcoming networking events, visit them at gatnconnect.org.

NorthAtlantaBusinessPost.com • June 2015 • 13A

TECHNOLOGY

14A • June 2015 • NorthAtlantaBusinessPost.com

Tech group seeks more capital investment in Georgia By PATRICK FOX pat@northatlantabusinesspost.com ATLANTA – Georgia’s technology industry is growing, but not as rapidly as it could, according to the head of the state’s largest tech trade associations. In his “State of Technology in Georgia” address to members last month, Technology Association of Georgia President and Chief Executive Officer Tino Mantella said the industry faces challenges of recognition, both from investors and from students unaware of its career potential. The organization, with more than 28,000 members, was founded in 1998 as a merger with three of the state’s largest technology organizations: the Southeastern Software Association, the Business and Technology Alliance and Women in Technology. Within the past several years, it has formed chapters in five other locations outside metro Atlanta, including Savannah, Augusta, Columbus, Middle Georgia and Athens. “The technology industry is on a significant growth spurt, both in terms of the number of companies and the growth in jobs,” Mantella said. “Since 2010, there’s been more than 25,000 net jobs in the state.”

“The technology industry is on a significant growth spurt, both in terms of the number of companies and the growth in jobs. Since 2010, there’s been more than 25,000 net jobs in the state.” Tino Mantella, Technology Association of Georgia President and Chief Executive Officer

Even during the recession, Mantella said, the technology sector held its own and continued to grow. Right now, there are about 10,000

tech jobs open around the state, he said. Mantella told members that talent remains a challenge to the industry. “We need to get more kids focused on

STEM (science, technology, engineering and mathematics) careers to make them more aware of opportunities,” he said. To that end, TAG sponsors events for students, such as STEM Day and days set aside for coding. This summer, the organization is trying to place 160 rising high school seniors in tech jobs. Another area Mantella focused on in his address was capital funding. Last year, according to the Price Waterhouse Money Tree Report, Georgia companies received $490 million in investor funding, which is up about $100 million from the prior year. However, the state lags far behind in the total U.S. distribution of the $48 billion in venture capital awarded last year. Companies in three states – California, Massachusetts and New York – received the bulk of the funding. “The good news is, there are more (Georgia) companies getting more money than the previous year,” he said. “The downside is that of all the venture capital money that went to companies in the United States, the Georgia money only represented 1 percent of that total.” TAG’s goal, Mantella said, will be to create more visibility around the companies in Georgia and get more investors interested in backing them.

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TECHNOLOGY

16A • June 2015 • NorthAtlantaBusinessPost.com

Solar energy has bright future By KATHLEEN STURGEON kathleen@appenmediagroup.com ALPHARETTA, Ga. — The future of solar energy has a sunny outlook, and it’s already shining brightly in North Fulton. More and more companies are adopting the alternative source for energy, including DataScan Technologies in Alpharetta, a floorplan inventory verification and car inspection company. The company is a subsidiary of JM Family Enterprises, which serves as North American ambassadors for Toyota. In 2010, the company went solar, when it began installing 24,000 square feet of solar paneling on the roof of its facility. “We believe solar is a great fit for DataScan because this site houses a large data center, which are among the largest consumers of electricity,” said Christie Caliendo, public relations lead. “DataScan’s solar array has the capability to capture and convert sunlight to generate more than 250,000 kilowatt hours of clean, renewable energy, which is approximately 5 percent of the facility’s annual electricity consumption.” Consuming the same amount of energy through non-solar means would emit 150 metric tons of carbon dioxide annually. That is equivalent to the emissions from 349 barrels of oil, 161,117 pounds of coal or the electricity usage of 21 average residential homes, Caliendo said. Cristina Hicks, environmental leader for DataScan, said using solar energy would hypothetically replace deriving electricity from fossil fuel sources, which are finite, nonrenewable sources that dwindle over time. Nonrenewable sources also become very expensive and environmentally damaging to retrieve over time. In May, Georgia Power celebrated the signing of Georgia House Bill 57, or the Solar Power Free Market Financing Act, by Gov. Nathan Deal. The bill’s author, Rep. Mike Dudgeon (R-Johns Creek), worked with other lawmakers, utilities and solar companies in the creation of the law, which allows a lease transaction based on the performance of a solar installation. Georgia Power’s solar programs, such as the Advanced Solar Initiative (ASI), are adding thousands of solar panels to Georgia’s energy landscape. Through the ASI and other programs, Georgia Power is working to develop one of the largest solar portfolios in the nation. All of the company’s solar resources are being procured at costs designed to prevent upward pressure on rates and ensure that solar offers the most value for Georgia Power customers. DataScan’s Hicks said she would like to see the use of solar power expand in the future. “JM Family has a plan and intention to continue to develop more renewable

JMFE Solar Array, Alpharetta, Ga. Cutting the electrical cord: Vice President for JM Family Enterprises Brent Sergot, State Senate Majority Leader Chip Rogers, U.S. Rep. Tom Price (R-Ga.), President and CEO of JM Family Enterprises Colin Brown and Executive Vice President for JM Family Enterprises Frank Armstrong during the unveiling of the solar energy array at DataScan Technologies in April of 2011.

“We believe solar is a great fit for DataScan because this site houses a large data center, which are among the largest consumers of electricity.” Cristina Hicks, environmental leader for DataScan

sources of energy,” Hicks said. “Maybe in the future we can use not just solar but other renewable sources and technologies as they become more commercially viable.” The technology for solar has improved and become more affordable, Hicks said, which she hopes will encourage other companies to start using more solar energy. “For us, it’s more about doing the right thing and less about the costs and financial implications of the technology,” Hicks said. “JM Family and DataScan have a very strong corporate responsibility program that includes a number of environmental initiatives, of which energy reduction and focusing on renewable energy is really at the center point of that.” It cost JM Family Enterprises about $2 million to complete the project, but the system will pay for itself in about seven years because of local and federal tax credits. “There’s an initial outweigh and invest-

ment,” Hicks said. “But through a lot of partnerships with the state of Georgia and really great incentives, such as working with our state officials and the local utility companies, it was financially viable for us to do this project. Over time, we are saving money because we’re generating about 5 percent of our total energy consumption at the site through solar energy. “Solar is obviously a free resource; we’re not paying for the sun,” she said. Another Georgia company recently announced its plans to utilize solar power. Southern Power, a subsidiary of Atlantabased Southern Company, announced plans in December 2014 to develop a 131-megawatt photovoltaic solar project in Butler, Georgia, which will be capable of generating enough electricity to help meet the energy needs of more than 21,000 homes. Construction on the Taylor County facility is scheduled to begin in September.

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TECHNOLOGY

NorthAtlantaBusinessPost.com • June 2015 • 17A

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Georgia is the fastest-growing solar market in the United States • Georgia installed 45 MW of solar electric capacity, ranking it 16th nationally. • The 161 MW of solar energy currently installed in Georgia ranks the state 15th in the country in installed solar capacity. There is enough solar energy installed in the state to power 17,000 homes. • In 2014, $79 million was invested on solar installations in Georgia. Source: http://www.seia.org/state-solar-policy/georgia

TECHNOLOGY

18A • June 2015 • NorthAtlantaBusinessPost.com

Tech-funding experts offer insights into securing capital By PATRICK FOX pat@appenmediagroup.com ALPHARETTA, Ga. — Close to 80 business executives were on-hand Thursday evening, May 7, at the Alpharetta Marriott for the Greater Alpharetta Tech Network’s first Tech Funding Symposium. A panel of nationally renowned tech investors from the Atlanta area shared expertise on entry-level to latestage funding options and strategies for companies. “We’ve got 900-plus technology companies in the greater Alpharetta area, and many of those are start-ups to medium-sized companies who are or will be seeking funding,” said Karen Cashion, president and founder of GATN. “What we wanted to do was bring in some of the most highly respected leaders of the Atlanta investor community to share their knowledge and experience.” Panel members included: • Ramsay Battin from Eastside Partners; • Bill Benston from Cary Street Partners; • Joe Estes from Raymond James; • Jamie Hamilton from BIP Opportunities Fund II; • George Mashini, chief executive officer of Alpharetta-based Catavolt; • Charlie Paparelli from Paparelli

Moderator Brian Nash and panelists (from left) Bill Benston, Ramsay Battin, George Mashini, Joe Estes, Charlie Paparelli and Jamie Hamilton at the GATN 2015 Tech Funding Symposium.

Ventures. One of the key questions raised by tech executives was: What are investors looking for when seeking companies to invest in? Panelists agreed they were looking for more than a solid business plan from companies. They said it’s critical the start-up leaders include people who have years of experience and expertise in the product or service they are marketing. Another question that drew major discussion was how things change when a company receives investor funding. Panelists said entrepreneurs need to be

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aware that bringing in investors means a loss of ownership control. While it’s often viewed as a cause for celebration, company founders need to be aware that they are making themselves responsible to investors for the success of the company, panelists said. “It’s a very serious undertaking, because now you have investors who expect you to take those funds and use them and multiply them, and grow the company in a significant way that’s going to give them a return on their investment,” Cashion said. GATN plans to hold the Tech Fund-

ing Symposium each year, Cashion said. Thursday, May 7, was the one-year anniversary of the group’s founding. “Every one of the events we hold is intended to be educational and include thought leaders so the executives from these tech companies can have a lot of take-away from the event,” she said. The next scheduled event is June 17, when Asif Ramji, CEO of Paymetric in Roswell, will speak on how his company successfully obtained private funding and produced double-digit growth. The event will be held at the Peak 10 campus in Alpharetta.

NEWS

NorthAtlantaBusinessPost.com • June 2015 • 19A

Set to open 2020:

Ga. 400 exit to go at McGinnis Ferry Open house for feedback later this year By SHANNON WEAVER shannon@appenmediagroup.com MILTON, Ga. — Transportation projects are moving forward that will include the addition of an interchange at Ga. 400 and McGinnis Ferry Road and ease traffic headaches for North Fulton and Forsyth commuters, a contractor told the Milton City Council at a work session May 11. Representatives from Moreland Altobelli Associates, the contractor for the McGinnis Ferry interchange project, updated council on their progress at the work session. Construction will not only add onand off-ramps to Ga. 400 at McGinnis Ferry but widen the road to four lanes on the west side to Bethany Bend and six lanes on the east side near Ronald Regan Boulevard. The project is estimated to cost nearly $47 million and is projected to open in 2020. “We are currently under way to a preliminary engineering phase,” said L.N. Manchi, the project manager with

Moreland. “We’re putting together a database right now, and survey for all the environmental studies.” Forsyth County, the Georgia Department of Transportation and the North Fulton Community Improvement District are working with Moreland on the project. An open house for feedback from all affected communities will be held later this fall. “It’s an important project for GDOT and all the community surrounding the study area,” Manchi said. In addition to the McGinnis Ferry interchange project, Manchi discussed Forsyth County’s intergovernmental agreement with Johns Creek to widen McGinnis Ferry from Ronald Reagan Boulevard to Sargent Road. “When you have these projects completed, that will have major east-west connectivity for folks,” he said. Tim Allen, assistant engineering director for Forsyth County, said the projects will improve the overall traffic flow in the area. “Doing nothing is not an option,” Allen said. “Our projects will get the mobility and level of service back up in this area to something that people can live with for the next 20 years.”

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REAL ESTATE

20A • June 2015 • NorthAtlantaBusinessPost.com

Sterling bullish on northern suburb’s retail Has made $34.68M stake in 3 commercial deals totaling 848,829 s.f. By HATCHER HURD hatcher@appenmediagroup.com NORTH FULTON, Ga. – The Sterling Organization, a privately held real estate and investment services company headquartered in Palm Beach, Florida, has taken a $34.68 million position in three commercial properties in North Atlanta, including two retail centers in Roswell – and they would like more. Sterling, named a Top 100 Property Owner by Retail Traffic Magazine, sees North Atlanta as a retail market that is both strong and growing. Sterling President and Chief Executive Officer Brian Kosoy said Atlanta is an area that they are studying closely for investment opportunities. The first three properties that Sterling has closed on are North DeKalb Mall in Decatur, and Roswell Village Shopping Mall and Market Center, both in Roswell. In all, Sterling spent $34.68 million to own outright or take the majority position in the properties. Beyond the specific market – which Sterling does like overall – Sterling was attracted to the opportunities these under-performing properties offered. “We are opportunity driven. We prefer to find properties in the market that we think have significant room for improvement beyond just the market that needs to improve,” Kosoy said. In other words, the market is present and the property has a good location, but it lacks the capital and the expertise that can get the property producing up to speed. Take Roswell Village Shopping Center for example. It was originally developed in 1973, and 75,000 people live within a 3-mile radius of the property. The average household income in the area is more than $82,000. Over 100,000 cars drive by the shopping center daily. These are numbers Sterling can

Sterling Organization’s recent suburban purchases North DeKalb Mall – Sterling bought the 71-acre Decatur property with 622,000-squarefoot retail mall in partnership with Lennar Commercial Investors for $15.5 million in 2014 from Herndon Properties. It is located at the corner of Lawrenceville Road and North Druid Hills Road in Decatur. Roswell Village Shopping Mall – Sterling purchased this 145,000-square-foot retail center in 2014 for $10.55 million. It sits on the southwest corner of Holcomb Bridge Road and Ga. 9 (Atlanta Street).

HATCHER HURD/Staff

Sterling Organization is actively searching for additional properties for acquisition in the North Fulton area. From left, Sterling Regional Director Rob Morris, Roswell City Councilwoman Nancy Diamond, Sterling VP of Development Dustin Hicks, Roger Wise and Roswell Inc. Executive Director Steve Stroud discuss Roswell’s retail environment. work with. But Sterling is cautious, not speculative, Kosoy said. “We are very focused on real estate fundamentals,” he said. “We look for real estate that can be vastly improved. We only do about 1 percent of the deals we look at.” Sterling Regional Vice President Rob Morris, who is an Emory graduate and a 20-year Atlanta resident, said Atlanta’s growth pattern has been set since Ga. 400 opened the gates northward 25 years ago. “The northern arc of Roswell, Alpharetta, Johns Creek and East Cobb has opened up to be just the market for us,” Morris said. “It’s a mature market and for a company like us, it affords significant opportunities in North Fulton. The

market just continues to grow.” Sterling is looking for “capitalstarved” properties that it thinks can be turned around with the right fusion of cash and management. There is another reason Sterling likes to invest in these underperforming properties. The company can be the knight in armor that the community and elected officials can’t wait to see ride in to turn blight into retail might. It would be a rare case where a community or a city government would not welcome a company that wants to come in and significantly upgrade the retail performance of a center and fill empty storefronts. “We want to come into a mature market like Roswell and work with the community to significantly improve the

MIKE BUTLER/Courtesy of Sterling Organization

Roswell Village is an underperforming retail center at the high-traffic intersection of Holcomb Bridge Road and Ga. 9 in Roswell. The Sterling Organization says the market and the demographics of the area make it ripe for the Sterling touch to become an excellent performer.

Market Center Mall – Sterling paid $8.63 million to GE Capital for the 81,829-square-foot property on the northwest corner of Holcomb Bridge Road and Holcomb Woods Parkway in Roswell.

asset we now have,” Morris said. Retail has been slow to recover in Atlanta since the recession. Meanwhile just up the road, Avalon in Alpharetta, a $300 million (so far) high-end, mixeduse project, has grabbed the spotlight. “There’s a pattern there. We are not developers, but we see what people are doing; the market is there,” Morris said. Redeveloping these underperforming properties across the country has been Sterling’s history and it has paid handsomely to Sterling’s investors. Sterling’s strict adherence to its tried-and-true formula is what the company will do, said Kosoy. So Market Center’s 55 percent occupancy and Roswell Village’s 31 percent occupancy did not dismay Sterling. “We have a long and successful track record of improving underperforming properties across the country. We like to bring capital to communities and properties that have historically been undercapitalized,” said Kosoy. By focusing on redevelopment and revitalization, Sterling not only capitalizes on the properties themselves, but the company also gains the community and political leaders as allies in their quest to turn around these properties. “It puts us in a much better place, because everyone wants the same thing. We don’t have the push and pull that developers often get,” Kosoy said. “At the end of the day the community gets a much better product and we get the returns we need to provide to our investors.”

FULTON COUNTY

NorthAtlantaBusinessPost.com • June 2015 • 21A

New interchange to accelerate growth By PATRICK FOX pat@appenmediagroup.com SANDY SPRINGS, Ga. – Federal clearance for the proposed $1.1 billion makeover of the Interstate 285/Georgia 400 interchange could spark renewed business development in the northern suburbs, according to one state official who has tracked transportation issues for more than a decade. “It’s definitely a project of regional significance,” said state Sen. Brandon Beach (R-Alpharetta). “It’s the largest single project in Georgia history.” Beach, who heads the Greater North Fulton Chamber of Commerce and served on the Georgia Department of Transportation Board of Directors, said the interchange is among the worst in the Southeast. Each day, more than 400,000 vehicles travel through the interchange. State DOT officials say the new interchange will be similar to the design of “Spaghetti Junction” at I-85 and I-285, with flyover bridges and special access lanes. The federal government will pay $750 million of the cost. Beach said the redesign will benefit all northern metro Atlanta counties, providing smoother access for a muchneeded workforce that supplies businesses starved for talent, particularly in technology. “Thirteen years ago, a CEO made a decision where a company was to locate a lot of the time based on where he or she wanted to live,” Beach said. “Today, the CEO still makes the call, but it’s based on where the talent is.” The recent announcements by Kaiser, Mercedes Benz and State Farm to locate major operations in north metro Atlanta were all spurred by the access to a talented labor force, he said. Improved transportation is not lim-

New plans call for significant improvement at the interchange of Ga. 400 and I-285.

ited to highways. Beach said he is also pushing other transportation initiatives in the area and cited the proposed MARTA rail extension from North Springs to Windward Parkway as an example. Along those same lines, he praised Forsyth County for its recent initiative to widen Ga. 400. The project will relieve the heavy

congestion seen every day as commuters approach Windward Parkway, he said. Four teams of contractors are on the DOT’s short list to design, finance and build the new interchange through a public-private partnership. Proposals are due in September, and the apparent winner will be announced in December.

BRIEFS & SHORTS: Fulton County Kay Love named president of GCCMA ROSWELL, Ga. – Roswell City Administrator Kay Love has been named president of the Georgia City-County Management Association (GCCMA), a professional organization of top administrators from cities, counties, regional councils and other local governments in Georgia. “I am excited and honored to Love serve as GCCMA President. I intend to build upon the strong legacy of past leadership and to help promote the profession of city/county management,” Love said. Love said her priorities for this year include a review of GCCMA’s bylaws, increasing membership, refreshing the website and planning for GCCMA’s 60th Anniver-

sary celebration in 2016. As president, she will preside over all meetings and will represent the state at the International City/County Management Association (ICMA) Conference in Seattle, Washington in September. Love has been involved with GCCMA since 2004. Over the past decade she has served on a variety of committees and offices: the scholarship committee, program and planning committee, district director, secretary/treasurer and vice president. Love has more than twenty years of experience in local government management. Before joining Roswell, she worked for 10 years in local government financial management for Columbus Consolidated Government and ten years in public education financial management. Love holds an MBA and a B.B.A from Columbus State University. She serves on the Georgia Municipal Association Member Services Advisory Council and the North Fulton Regional Radio System Authority. She is a member of the Rotary Club of Roswell and

“This is an amazing win for our team to be able to obtain approved environmental documents in such a short time frame,” Georgia Commissioner of Transportation Russell McMurry said. “I am confident that we will continue that positive trend as we move forward with the project.” The new interchange is expected to open to traffic in 2020.

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CSI Laboratories opens new facility ALPHARETTA, Ga. – CSI Laboratories, a private national reference laboratory specializing in cancer diagnostics, celebrated the opening of their new molecular laboratory May 20. The addition of an in-house molecular laboratory is significant to not only CSI’s growth as a company, he said, but it allows for more control over molecular specimens and testing orders. By now being able to perform all tests under one roof, patients will benefit from CSI’s collaborative approach where doctors from each discipline readily share case information, leading to more precise prognostic and diagnostic results, he said.

CHEROKEE COUNTY

22A • June 2015 • NorthAtlantaBusinessPost.com

Hydro-Chem unveils new hydrogen plant HOLLY SPRINGS, Ga. – HydroChem is launching mass production of hydrogen-generating plants based on steam methane reforming technology. The company, a division of Munich-based Linde Engineering North America, announced in May that it has tested and proven the reliability and suitability of the Hydroprime plants in various applications as a competitive and reliable local production alternative to trucked-in bulk gases. Hydro-Chem President Raju Natrarajan said Linde developed Hydroprime to address the market for efficient, easy-to-install, compact plants by employing his company’s experience in modular hydrogen plant design and fabrication. Hydroprime plants offer many advantages over traditional supply modes such as truck-delivered liquid hydrogen, electrolytic plants and conventional steam methane reforming plants, Natrarajan said. Over the past 25 years, HydroChem has developed a full line of onsite hydrogen generators with over two hundred installations around the world.

UAC buys parcel for future expansion CANTON, Ga. – Universal Alloy Corporation has purchased 44 acres of land in Ball Ground for a future expansion project. Company CEO Chip Poth said the site was selected due to the rail spur access imperative to the operation. “This land purchase represents the first step in UAC’s ability to continue to grow investment in facilities, capabilities and employment in Cherokee County,” Poth said. This year has been a banner year for Cantonbased UAC. The company was named Boeing’s Supplier of the Year and has secured a 10-year contract with the American multinational corporation.

Hydroprimes are modular hydrogen generators using steam-methane reforming.

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FORSYTH COUNTY

NorthAtlantaBusinessPost.com • June 2015 • 23A

State of Forsyth strong, progressing By KATHLEEN STURGEON kathleen@appenmediagroup.com FORSYTH COUNTY, Ga. — Forsyth County is strong and moving forward, said two county leaders earlier last month at the State of Forsyth County address. “Forsyth County is a community of exceptional natural resources and unparalleled opportunities where personal growth, prosperity and dreams are realized every day,” Commission Chairman R.J. “Pete” Amos told the audience May 7 at the Forsyth Conference Center at Lanier Technical College. Amos, along with Board of Education Chair Darla Light, gave an update on the county as a whole and the Forsyth County School System. “Our unemployment rate for March of 4.5 percent was the second lowest in the entire state of Georgia,” Amos said. “Our millage rates continue to be among the lowest in metro Atlanta. The county’s growth is one thing that has enabled us to keep our tax rates so low. “That leads into some of the things at which Forsyth County is ranked among the top,” he said. “We continue to be one of the fastest growing counties not only in Georgia but also nationwide. Our growth rate is the second-fastest in the state and the seventh-fastest in the nation, and the latest census figures estimate our population at more than 204,000.” Amos said the county’s medium household income is higher than both Georgia and the national average, as noted that the county was named the healthiest county for the third year in a row. “It’s absolutely no surprise that people want to be a part of this community we call Forsyth County,” Amos said. Regarding public safety, the county’s

KATHLEEN STURGEON/staff

Forsyth County Commission Chairman R.J. “Pete” Amos and Board of Education Chair Darla Light answer questions from the audience during the State of Forsyth County address. 911 center was recognized for handling more than 200,000 calls for service last year. The fire department conducted nearly 600 child safety car seat inspections to ensure they were installed properly last year alone. And, Amos said, the new jail is expected to open in July. “The new jail and new courthouse are critical components of our public safety and judicial systems,” Amos said. “I’ve heard nothing but positive comments so far from everyone who has visited the new courthouse since it opened in March. It and the new jail are modern, state-of-the art buildings that will serve the county for many years to come. They – along with the two new parking decks opened in downtown last year – were funded by the voter-approved SPLOST VII program, so we owe our thanks to the citizens for making them possible.” Roads were also brought up as a crucial piece of infrastructure, Amos said. “Forsyth County voters deserve

a huge thank you for the 63 percent approval of the $200 million Forsyth County transportation bond last November,” Amos said. “The bond includes $119 million for county projects and $81 million for projects in partnership with GDOT, to leverage state and federal funding.” Amos also mentioned the county was identified last month by the Technology Association of Georgia as the most innovative county in the state. “This designation is important because it speaks to the future of our county’s economy and jobs,” Amos said. “We have enjoyed a 7.2 percent growth of jobs in the tech sector since 1997. The number of households with broadband Internet access is nearly 90 percent.” Light gave an update on the current condition of the county school system, saying it is home to 42,747 students and 4,525 staff in 35 schools. It is the seventh largest of 195 school systems in Georgia, and it added 1,911 new students since

BRIEFS & SHORTS: Forsyth County Sawnee to participate in Georgia solar project CUMMING, Ga. — Sawnee Electric Membership Corporation (Sawnee EMC) announced that it has acquired a 34 percent stake in a new 52 megawatt (MW) solar project, which will be located in Jeff Davis County, near Hazlehurst, Georgia. This is the third such project that Sawnee’s board of directors has approved during the past 12 months. This new project will bring Sawnee’s total solar generation capacity to 42 MW, enough to power thousands of homes. “We continue to look for responsible and economically viable ways to diversify our overall energy portfolio, especially when it is cost effective and meets the goal of limiting the effects of carbon on our state with regard to generating electricity; all of which makes good overall

business sense for our members,” said Michael Goodroe, Sawnee president and CEO. “We are glad to once again take the opportunity to take the lead on this . . . [it] is very exciting.”

UNG to rent space at Cumming City Hall CUMMING, Ga. – The University of North Georgia (UNG) will lease the top floor of the Cumming City Hall for its Master of Business Administration and Continuing Education and Professional Development programs. Due to an increase in student enrollment in these programs over the last three years, the university felt the need to find more adequate accommodations for students and faculty. As a result of a pending five-year agreement with the City of Cumming, the Mike Cottrell MBA program and

May 2014. “The school system is so important for the economy because people move here because the school system is so good,” Light said. “We are growing by leaps and bounds, even in the downturn of the economy. We’re working hard.” The school system began projects from the $195 million bond referendum and $53 million in state funding, Light said. This is broken down into $115 million for improvements, additions and renovations to existing schools, $105 million to construct one high school, one middle school and purchase land for schools, $19 million for technology and school safety and $9 million for transportation. “With the new bond passing, that will really help to accommodate the growth,” Light said. “We’re still on top and are very proud of what we do. The school system is really moving forward.” Among Georgia’s 15 largest districts, FCS has the highest graduation rate, district SAT score and Georgia High School Writing Test score. The county will be redistricting this fall to prepare for the opening of Brandywine Elementary School and DeSana Middle School in August 2016. This brought up the topic of school overcrowding. “What people don’t understand is we can’t just go build schools,” Light said. “The children have to be here before you can build the schools and before the state will give you their portion of the money to build. That’s why it has to get overcrowded before you can build the schools. I think we do a good job and give the school buildings a lot of flexibility to do what they want to do in their building and what’s best for their children. Overall, we handle it really well.”

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the Office of Continuing Education and Professional Development will utilize the entire top floor of the city hall, measuring at approximately 10,000 square feet. The plans for the interior space will be completed by August of this year. The Cottrell MBA program began in 2008 and is a two-year, part-time program based on a cohort structure, which means that a group of students is accepted into the program each fall and progresses through the program as a group. “By moving the MBA program to the Cumming City Hall location, it allows us to be in a very professional setting with closer access to businesses in the surrounding area,” says Dr. Donna Mayo, dean of the Mike Cottrell College of Business. UNG has campuses in Cumming, Dahlonega, Gainesville and Oconee County, and will open an additional campus in Blue Ridge, Georgia, this fall. For more information, visit www.ung.edu.

COBB COUNTY

24A • June 2015 • NorthAtlantaBusinessPost.com

Photo courtsey of the Atlanta Braves

A rendering of the new SunTrust Park, North view.

Braves begin season ticket sales for new SunTrust Park COBB COUNTY, Ga. – The Atlanta Braves announced that they have begun to sell season tickets to SunTrust Park at their newly opened SunTrust Park Preview Center. “We want our fans to be immersed in the experience of SunTrust Park,” said Derek Schiller, executive vice president of sales and marketing for the Atlanta Braves. “That starts by locating our preview center adjacent to the construction site, where fans can watch the park come to life in real time. They will then have the ability to 'step inside' SunTrust Park, through our Virtual Venue application, where they can experience the unmatched views from their future seats and the level of service and amenities that A List Members will expect at SunTrust Park.” The high tech SunTrust Park Preview Center overlooks the SunTrust Park and

“... The Braves are confident that our games will remain affordable and accessible for all our fans.” Derek Schiller, Executive vice president of sales and marketing for the Atlanta Braves

adjacent mixed-use community construction site and gives A List Members an immersive experience through a blend of advanced technology and actual ballpark amenities. Outfitted with meeting rooms named after Braves legends, A List Members and other visitors will experience flythrough videos of the mixed-use community, the exterior of SunTrust Park as well as key amenity areas within the ballpark.

Visitors will also be able to physically sit in various types of seating configurations and get a feel for the scope of the project by seeing a detailed scaled model of SunTrust Park and the mixed-use community. A List Members will have a number of choices on either non-premium seats that range from $6-$90, or premium seating that range from $85 - $475. More than 19,000 seats - nearly half of the

BRIEFS & SHORTS: Cobb County eVestment names Nicole Wu chief financial officer ATLANTA — eVestment, the global leader in institutional investor data and analytics, has named Nicole Wu as chief financial officer. As CFO, Wu will have responsibility for eVestment’s global financial operations, lead and expand the company’s finance team and sit on eVestment’s executive committee. Her experience in software, technology solutions and global organizations will be important as eVestment continues to grow and expand around the world.

“eVestment’s growth has been tremendous and has really accelerated in the past few years,” Wu said. “I look forward to bringing my skills and experience to the company and to helping eVestment continue to increase its influence in the financial-technology space even more.”

Randstad Sourceright appoints Molloy as VP of client services ATLANTA — Randstad Sourceright, a global talent leader, announced that Katie Molloy has joined the com-

ballpark - will be priced under $20 per seat, with more than 7,000 seats at less than $10. Almost 6,000 seats will have added value built into the ticket - including food and beverage credits and special area access - starting at $40 per ticket. The average ticket price for A List Members at SunTrust Park will be $28, just under the Major League average of $29. “Much of the feedback we've received from fans in recent years revolved around the lack of seating and amenity options available at Turner Field. We believe it is important to offer a variety of experiences for every type of fan, which we have accomplished by increasing the amount of value-add offerings and premium options,” said Schiller. “That being said, the Braves are confident that our games will remain affordable and accessible for all our fans.”

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pany as a vice president of client services. In this role, Molloy will be responsible for ensuring the company develops and delivers the most effective strategic recruitment process outsourcing (RPO) solutions for Randstad clients. “Katie is a recognized superstar in the RPO field, and we are thrilled to welcome her to the Randstad family,” said Robert Lopes, president, North America for Randstad Sourceright. “Katie is an effective and visionary leader with a proven track record for motivating her teams to solve complex business challenges. We look forward to the contributions that she will make to our clients’ success.”

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Leadership Summit

A Special Thanks to Our Sponsors

26A • June 2015 • NorthAtlantaBusinessPost.com

GWINNETT COUNTY

Courtyard completes $2 million renovation DULUTH, Ga. – Courtyard has completed a $2 million renovation at its Gwinnett Place location in Duluth. The redesign features a state-of-ofthe-art lobby with complimentary Wi-Fi and convenient outlets. An interactive touch-screen GoBoard has also been installed, giving guests easy access to the latest news and airport information. Also new is The Bistro – Eat. Drink. Connect restaurant, open for breakfast and dinner daily. The hotel’s renovated guest rooms and suites feature a lounge-around sofa, which pulls out to sleep additional guests. New, plush bedding features crisp linens, custom comforters and pillows. Bathrooms also received a facelift and now feature new shower curtains, full-length mirrors and hair dryers that are not connected to the wall.

A look at one of the newly renovated guest rooms at Courtyard Atlanta Duluth/Gwinnett Place hotel.

BRIEFS & SHORTS: Gwinnett County County OKs massive mixed-use project LAWRENCEVILLE, Ga. – Gwinnett County’s Board of Commissioners gave final approval May 26 to allow construction of a mixed-use development along Loganville Highway near Grayson and Loganville. Plans call for the construction of 625 homes and nearly 450,000 square feet of retail space. The housing will include 293 single-family detached homes, 66 town homes, 52 attached villas and a 214-unit subdivision. Commissioners did deny a request by Grayson Investment Partners, developer for the project, to develop a 121,000-square-foot parcel at 3100 Loganville Highway.

Combined companies announce new name NORCROSS, Ga. & RICHMOND, Va. – MeadWestvaco Corporation and Rock-Tenn have selected WestRock as the name for the new company when the two packaging leaders complete their merger. WestRock will trade on the New York Stock Exchange under the ticker symbol WRK. “WestRock draws on the strongest elements from each of our legacy names,” said Steve Voorhees, who will be the chief executive officer of WestRock. “The name speaks to our determination to build on the long track record of success and growth that has been established by both companies.” The pending combination between MWV and RockTenn was announced in January, and the companies have received antitrust approval in the United States

and are awaiting other regulatory and shareholder approvals that are expected this month.

U.S. Go Goal Cabinets opens U.S. headquarters PEACHTREE CORNERS, Ga. – U.S. Go Goal Cabinets has opened its first U.S. headquarters at 6480 Jimmy Carter Blvd. The 3,000-square-foot showroom and 35,000-square-foot warehouse represents the company’s first U.S. presence. “Gwinnett County will be an ideal location for us to grow our business, being centrally located in the Southeast,” said Ellis Zheng, president of U.S. Go Goal Cabinets Inc. Company officials said they hope to attract skilled talent within the region with numerous part- and fulltime sales and warehouse positions that the company is currently recruiting to fill. The company plans to open three additional warehouses and create 20 positions in the next five years. U.S. Go Goal Cabinets Inc., a subsidiary of Chinesebased Roc Furniture Industrial Co. Ltd., designs, manufactures and sells kitchen cabinets to retail and wholesale markets.

Prime Care Technologies launches solutions platform DULUTH, Ga. — Prime Care Technologies announced the launch of a comprehensive long-term/post-acute care (LTPAC) solutions platform. The platform is designed for LTPAC providers to

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improve financial and operational performance. “Having the right blend of technology is mission critical for today’s operator,” said Jim Hoey, Prime Care Technologies CEO. “Prime Care Technologies’ suite of solutions is supported by a team of business performance experts who help clients streamline people, processes and technologies to maximize quality of life for patients and residents as well as professional satisfaction for the teams responsible for their experience.” For more information, visit www.PrimeCareTech. com.

Encompass selected for Sony service parts supply chain LAWRENCEVILLE, Ga. — Encompass Supply Chain Solutions announced it will manage the spare parts supply chain for Sony’s comprehensive consumer electronics line. Under an agreement with Sony, Encompass will manage all aspects of the consumer service parts supply chain. Encompass currently distributes non-warranty Sony parts as an authorized distributor. Effective immediately, Encompass will supply parts to other distributors, authorized service network service dealers, third-party administrators, international affiliates and end users through the distribution facilities in Florida, Georgia and Nevada. “Having supported the renowned Sony brand over the past several years, we are excited to have this opportunity to expand our relationship and further enhance world-class aftermarket service to their customers,” said Robert Coolidge, Encompass president and CEO.

WOMEN IN BUSINESS

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Report: Georgia leads nation in women-owned business growth Atlanta ranked 3rd of large-population cities By SHANNON WEAVER shannon@appenmediagroup.com ATLANTA — Georgia leads the country in growth in the number of womenowned businesses, according to American Express Open’s State of WomenOwned Businesses Report published May 18. Georgia’s growth rate for the number of women-owned firms between 1997 and 2015 was found to be 132 percent, outpacing Texas at 116 percent. Nationally, the number of women-owned businesses for the same period of time grew by 74 percent. “We’re seeing women-owned businesses starting at a rate much faster than not only men-owned businesses but women-owned firms around the country,” said Julie Weeks, research advisor to American Express Open and author of the report. Atlanta ranked third among the top 25 most populous metropolitan areas for its growth in number of women-owned businesses. There are approximately 9.4 million women-owned businesses in the United States, employing over 7.9 million people and generating almost $1.5 trillion in revenues. In Georgia, there are 338,100 women-owned businesses employing 246,300 people and generating $47.9 billion.

Sharing success The North Atlanta Business Post is seeking nominations for our Women in Business profile page. Nominees should be either the owner of a successful local business or in an executive position with a large corporation, who works out of one of our counties—north Fulton, Forsyth, Hall, Gwinnett, Cobb or Cherokee. The profile will include an account of the person’s path to success and her advice to other women wishing to pursue a career in business. Email Shannon Weaver at: Shannon@appenmediagroup.com. The report also highlighted firms owned by minority women. Nationally, African American female entrepreneurs make up 14 percent of women-owned businesses. In Georgia, that number is 35 percent. “There’s a huge trend of growth among African American women in Georgia,” Weeks said. Jill Peck, the president of National Association of Women Business Owners (NAWBO) Atlanta chapter, said that women-owned business growth in Geor-

gia was related to the state’s business climate as well as lifestyle. “Georgia has a very pro-business climate,” Peck said. “There are organizations, NAWBO Atlanta being one of them, specifically targeting women business owners which gives support and helps with growth and encouragement. “I think there are a lot of women who are opening businesses who are also moms raising families and looking for a certain quality of life that perhaps they couldn’t get in other states,” she said. Although the growth rate for womenowned businesses is higher than businesses overall, Georgia’s rates haven’t caught up to those before 2007. Atlanta’s change from 2002 to 2007 was 41.5 percent, while the change from 2007 to 2015 was 15.6 percent. “The recession knocked womenowned firms for a loop in Georgia and Atlanta, and they haven’t yet recovered,” Weeks said. “The overall positive growth is essentially riding on the coattails of the pre-recession fast growth.” In Georgia, women-owned business revenue grew by 90 percent while employment went up 29 percent for the 1997 to 2015 period. “The growth in the number is exceeding the growth in employment and revenue, which tells me that these are smaller, newer businesses that have not yet ramped up in terms of hiring people and increasing their revenues,” Weeks said.

“We’re seeing women-owned businesses starting at a rate much faster than not only men-owned businesses but women-owned firms around the country.” Julie Weeks, research advisor to American Express Open

Peck said she saw some womenowned firms “capping” their employees. “Women who start their own businesses are doing it a lot of times for that lifestyle. They want to grow a business to the point that they’re comfortable with,” she said. “They get to a certain plateau, it allows them to maintain the lifestyle they like and they stay there.” To view the report, visit http://bit. ly/1cgTKxE.

Women in Business luncheon gathers, awards leaders JOHNS CREEK, Ga. – The Greater North Fulton Chamber of Commerce hosted its third annual Women in Business Awards Luncheon May 6 at the Atlanta Athletic Club in Johns Creek. Henna Inam, CEO of Transformational Leadership Inc. was the featured speaker. “Each year adds another opportunity to celebrate professional women and their incredible contributions to business in North Fulton and the metro region” said Deborah Lanham, VP of Business Development for the Chamber. This year’s CEO Roundtable pre-event focused on women business leaders. Executive directors, presidents, and board members met with Inam to discuss the importance of developing authentic leaders and creating cultures of innovation, trust and inclusion. Afterwards, in the main ballroom the awards luncheon commenced. During the lunch, the women heard more from Henna Inam, a passionate advocate for the advancement of women in leadership. Her interactive talk titled, “Finding Your Authentic You,” inspires women to take control in the workplace. Two awards were presented by Lanham and her WIB Committee members at the luncheon. First, the 2015 GNFCC Business Woman of Excellence Award was given to Michelle Dixon, head of manufacturing at Alcon, for her business vision, proactive ideas and inspiration to others. Then, the 2015 GNFCC JenLan Rising Star Award was received by Samantha Browning, marketing manager at Edge Solutions, for her en-

Samantha Browning, center right, receives the 2015 JenLan Rising Star Award. With her from left are, Donna Smythe of the Child Development Association, Deborah Lanham of the GNFCC and Ken Davis, president of Renasant Bank, North Georgia.

thusiasm, tenacity and hard work in the business field. The event was made possible by partnering spon-

sors including North Fulton Hospital, Verizon, Frazier & Deeter and many more.

LEADERSHIP SUMMIT

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leadership summit:

Night of networking, fundraising at Ruth’s Chris By JONATHAN COPSEY jonathan@appenmediagroup.com ALPHARETTA, Ga. – More than 150 business leaders turned out May 14 for a night of food, drink, dancing and, most importantly, networking at the North Atlanta Business Post’s Leadership Summit at the Ruth’s Chris Alpharetta location. Business Post Publisher Hans Appen said the event was a success not only for charity and the attendees, but also for the Post itself.

“In our leadership roles, we should always take the opportunity to give back.” Hans Appen, Publisher North Atlanta Business Post

“It’s both very exciting and very humbling to have such a turnout,” he said. “It’s a sign that what we are doing is worthwhile and well-received by leaders in the business community.” Dan Lucas, founder and chief executive officer of Credo Financial Services, said he was pleased with the Post and what it means to the business community. “What a great publication,” Lucas said. “You learn a lot about what other people are doing. It’s all about staying connected.” Milan Patel, of Milan Eye Center, echoed Lucas. “All the [Appen] publications are phenomenal,” he said. “They keep their fingers on the pulse of the community.” He called the leadership summit “thoroughly enjoyable.” A part of the evening was to raise funds for the charity CURE Childhood Cancer, which helps with research into conquering childhood cancer. The event was held at the new Ruth’s Chris location on Haynes Bridge Road in Alpharetta, in their special events space. The gourmet food had lips smacking while live music from the Fly Cats got guests dancing. Appen said it was important to support charities. “In our leadership roles, we should always take the opportunity to give back,” Appen said. “We are one of the few entities that can bring such a wide a range of businesses together in one setting for the betterment of the community and for a good cause.” The evening raised over $6,000 for the charity. For more on CURE and ways to help, visit www.curechildhoodcancer.org.

The crew from Lee Immigration Law had a wonderful time.

Photos by Abby Breaux/Staff

Dan Lucas with Credo Financial, title sponsor of the evening, addresses the crowd.

Sponsors of the evening include: Title sponsors • Credo • Ruth’s Chris

The evening was filled with networking, food and even a few selfies.

Platinum • Avalon • Milan Executive • Taylor Promotional Products • Lee Law • Mike Stevens with ReMax • Atlanta Fine Homes Sotheby’s International • Reimbold Eye Group Partner • Emory St. Joseph’s Hospital • Senior Helpers • Roswell Home and Office Furniture

Sen. Brandon Beach addresses the crowd.

Cathy Adams of Berkshire Hathaway wins a free LASIK eye surgery provided by Milan Eye Center.

MOVERS & SHAKERS

NorthAtlantaBusinessPost.com • June 2015 • 29A

CID director appointed to transportation agency ALPHARETTA, Ga. – The North Fulton Community Improvement District has announced that Executive Director Ann Hanlon has been named to the Georgia Regional Transportation Authority Board of Directors. A native of South Georgia, Hanlon has spent the last 13 years working in transportation and public policy in Atlanta. As executive director of the North

Fulton CID, she oversees the organization’s project management team and daily operations. Her experience in transportation financing and project delivery was cited as key qualifications for her appointment to GRTA, as the organization strives to improve Georgia’s transportation network. Hanlon previously worked for the Perimeter CID and the Atlanta Regional Commission.

Ann Hanlon is welcomed to GRTA by Gov. Nathan Deal.

neighborhood, a luxury resale or a residence in a 55-plus community.” “I am especially inspired by Engel & Völkers Buckhead Atlanta’s focus on exceptional customer service,” said Bassell, a Cumming resident. He is a member of the Atlanta Board of Realtors and the National Association of Realtors, and has more than 20 years of sales and negotiation experience.

IFG names DeCouto to head property unit

Lorrie Collie (left) and Bette Glass have joined Lennar Atlanta as new home consultants.

Two home consultants join Lennar Atlanta ROSWELL, Ga. – Realtors Bette Glass and Lorrie Collie have joined Lennar Atlanta as new home consultants. Glass, a Texas native, has extensive experience selling real estate in Atlanta. Collie, is an active member of both the Atlanta Association of Realtors and the Cobb Association of Realtors and belongs to the Million Dollar Club in recognition of her success in real estate. Since Lennar Atlanta started building in the metro area in 2010, the company has completed more than 1,200 homes in more than 30 residential communities, primarily across Atlanta’s northern arc, and additional neighborhoods are slated to open this year.

Bassell joins Engel & Völkers Buckhead Atlanta ATLANTA — Realtor Steven Bassell, who specializes in residential new home communities throughout Atlanta, has joined Engel & Völkers Buckhead Atlanta as a real estate advisor and new homes specialist. “Steven is a great addition to our new homes division,” said Scott Payne, vice president of EnBassell gel & Völkers Buckhead Atlanta. “Steve has made it his mission to find our clients the right home throughout North Georgia and metro Atlanta, be it a home in a newly constructed

ALPHARETTA, Ga. – IFG Companies has named Sophia J. DeCouto vice president and head of the primary property unit within its Brokerage Property Division. DeCouto has experience in property underwriting spanning primary property, shared and layered property and national accounts property. Prior to joining IFG, DeCouto was vice president – property with Axis Insurance Company. Before that, she served in increasingly senior property underwriting positions over almost a decade with Allied World Assurance Company. She began her career in insurance as a brokerage assistant with Freisenbruch-Meyer Insurance Services Limited in Bermuda. DeCouto holds a bachelor of business administration degree from Mount Saint Vincent University, Halifax, Nova Scotia.

Euramax Holdings appoints new president of North America NORCROSS, Ga. — Euramax Holdings announced that R. Scott Vansant, president of Euramax North America, has resigned effective May 22. Vansant has served as president of North America since May 2014. Tyrone Johnson, vice president and consumer productions manager, succeeded Vansant May 23. “I am delighted that Ty will assume responsibility for our North American business,” said Hugh Sawyer, interim president of Euramax Holdings. “Ty is uniquely qualified to build on the momentum of the company’s ongoing operational and market growth initiatives.”

RentPath appoints Clark Wood as CMO NORCROSS, Ga. —RentPath, parent company of Apartment Guide, Rent.com, Rentals.com and Lovely,

has appointed Clark Wood as its new chief marketing officer. Prior to joining RentPath, Wood was a founding partner of AutoTrader.com and served as the company’s chief marketing officer for 15 years. At RentPath, Wood will be responsible for all of the company’s marketing initiatives, including advertising to prospective renters and serving multifamily industry clients. “AutoTrader.com became, and continues to be, the Internet’s ultimate automotive marketplace and leading resource for car shoppers and sellers under Wood’s stewardship,” said Charles Stubbs, RentPath president and CEO. “The addition of Clark to our senior leadership team illustrates another example of our ongoing commitment to maintaining our industry-leading position in digital marketing solutions and providing innovative offerings to our multifamily clients.”

Andrew Matthieson named to ‘Top Advisor Under 40’ list ATLANTA — Andrew Matthieson, of Ashford Advisors, has been named a “Top Advisor Under 40” by the National Association of Insurance and Financial Advisors-Atlanta Chapter (NAIFA-Atlanta). This award is given to advisors based on business production, business revenue, experience and Matthieson community involvement. “My goal for my clients is to bring clarity and confidence to their financial lives through financial organization, education and implementation of strategies that align with their goals and values,” Matthieson said. “My role in my clients’ lives is to act as the comprehensive financial coach for them, giving advice based on their complete financial picture, not just investing or insurance.” In the industry since 2013, Matthieson is involved with his community and volunteers his time as a coach for the Johns Creek Junior Gladiators youth football team and a board member of the North Fulton Alliance of Young Professionals.

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