Friday, April 3, 2009

McConkey mesmerized by variety of industrial deals

Published in Atlanta Business Chronicle - by Giannina Smith Staff Writer

Working in Atlanta real estate since 1967, Albert McConkey has seen the industry go through several ups and downs and admits he isn’t sure how long this downturn will last.
“Going through these slow times, which we’ve had about three of them, some are worse than others, but luckily we were in a good position and went right through them,” said McConkey, senior vice president at King Industrial Realty Inc. “This one is entirely different and I don’t know how long it will take.”

Born in Knoxville, Tenn., McConkey attended Georgia Tech and worked in Philadelphia following his graduation. Moving back to Atlanta in 1964, McConkey took a job at Georgia Power Co. and soon became interested in the industrial real estate industry.
“It’s just so varied and interesting; every deal is so different. It just does a good job of mesmerizing you,” McConkey said.

One of McConkey’s most notable deals took place more than 30 years ago when he sold a 35-acre site, formerly known as the Carling Brewery, to The Coca-Cola Co. for its syrup manufacturing operation. Valued at about $5 million, McConkey said the 250,000-square-foot deal was “not big by today’s standards, but was huge back in those days.”

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