John Dewberry, the well-known Atlanta real estate mogul, has expressed that he is indeed a changed man at the age of 62.
Becoming a father last year has significantly influenced Dewberry’s approach to both his personal and professional life.
In the past decade, he has taken the helm of his luxury Charleston hotel, The Dewberry, which has necessitated a deepened understanding of customer service and a shift in his business mentality.
During an extensive interview with Bisnow, Dewberry reflected on how fatherhood and the demands of managing a high-end hotel have fostered a newfound “servant” mentality in him.
His wife, Jaimie, who accompanied him throughout the interview alongside their 14-year-old spaniel-schnauzer mix, Cooper, noted that Dewberry has become less preoccupied with work since becoming a parent.
Originally known for his unyielding business tactics and combative negotiations, Dewberry has earned a reputation for being a tough-minded player in the real estate sector, particularly evident in Midtown Atlanta, where he owns significant property holdings.
He famously held onto his land for years, earning him the moniker “Emperor of Empty Lots” from Bloomberg in 2017.
However, Dewberry maintains that while his business philosophy may have softened, his strategies concerning his Midtown properties remain unchanged.
“I’m the last of the Mohicans,” Dewberry joked, commenting on his patience in waiting for the right opportunity to develop his properties.
Dewberry’s roots run deep in Atlanta, having first gained fame as a quarterback for Georgia Tech in the 1980s, leading the team to victory against the University of Georgia on two occasions.
Over the years, he has built a significant fortune as a real estate leader and luxury hotelier, often courting controversy while managing to win over audiences with his charm.
His influence extends to several prestigious parcels along Peachtree Street in Midtown, including nearly 4 acres at 132 10th St. across from the Federal Reserve and over 7 acres adjacent to his Peachtree Pointe office complex, much of which is owned debt-free, according to property records.
This financial independence allows Dewberry to take his time with development projects, which he approaches with meticulous care.
He firmly believes that any new projects must not only endure architecturally but also leave a lasting mark on Atlanta’s skyline.
“Today, it’s all for development, you know, and redevelopment, and so it’s more transactional than I am,” Dewberry remarked during the interview.
“We want to create a relationship with people,” he added, reflecting his evolving perspective on real estate.
His ownership of the Campanile building, a 20-story tower that he began redeveloping during the onset of the pandemic but halted midway, has also drawn criticism as it has been labeled “Midtown’s biggest eyesore.”
Dewberry brushed off critiques regarding this project, drawing a parallel to successful coaches like Nick Saban.
“You pay $50 for your ticket. You think Nick Saban really gives a rat what you got to say from the 17th row?” he said, underscoring his focus on his long-term vision rather than outside opinions.
After graduating from Georgia Tech in 1986, Dewberry’s career commenced in the Canadian Football League, where he played for the Calgary Stampeders.
He returned to Atlanta and began his career in commercial real estate under the guidance of Kim King, another notable Georgia Tech quarterback turned real estate tycoon.
By 1989, he founded Dewberry Capital with merely $5,000.
With his charm and determination, Dewberry secured a $4M loan for his first development project in North Charleston.
His venture into Midtown Atlanta began in 1998, purchasing various properties, including an acre site along Beverly Road for $1.2M and the future Peachtree Pointe office complex.
Initially planning a grocery-anchored shopping center, a conversation with a broker prompted him to pivot to high-rise office redevelopment, believing that demand for office space was greater.
In less than a year, he commenced the construction of the 200,000 SF One Peachtree Pointe building, showcasing his ability to pivot on a dime based on market needs.
Dewberry’s acquisition spree continued into the new millennium, including a nearly 4-acre property at 10th and Peachtree in 2002 and a hotel purchase from Wyndham in 2003.
He further solidified his influence in Atlanta real estate with additional purchases in Midtown, with a foresight that many projects and spaces would be in demand as businesses sought office spaces.
Despite setbacks, including the foreclosure of the Hotel Midtown due to a default on a loan in 2011, Dewberry has maintained a debt-free portfolio with a majority of his prime properties.
In Charlottesville, Virginia, he encountered obstacles after acquiring an unfinished commercial building with plans to transform it into a luxury hotel.
Locals have criticized the site, calling it a significant eyesore, and his attempts to sell the property were met with unsatisfactory offers.
Legal challenges have also persisted, including a trademark infringement lawsuit from a Virginia-based engineering firm in 2006 that was settled a year later, only for the company to sue him again in 2020.
The subsequent legal battles culminated with a $43M ruling against him, which he successfully appealed to the U.S. Supreme Court.
As Dewberry navigated the complexities of the real estate industry, he learned critical lessons about negotiations.
Having first approached office lease negotiations from a retail perspective, he quickly realized that office tenants have more options, which made his initial tactics counterproductive.
Reflecting on his early lease negotiations at Peachtree Pointe, Dewberry conceded that he was “too difficult” in the office business.
Over the years, Jim Borders, CEO of Novare Group, noted that Dewberry’s approach demonstrated intelligence and a fighting spirit—qualities that he recognizes have shaped Dewberry since his days at Georgia Tech.
However, a significant blow came in 2019 when Invesco chose to vacate Peachtree Pointe for another development site, leaving the building largely empty in its wake.
Dewberry’s focus shifted primarily to The Dewberry hotel, which he purchased for $15M from the General Services Administration in 2008.
The hotel was a revitalization project for a building commissioned by John F. Kennedy, showcasing Dewberry’s desire to model Southern luxury, which came to fruition with a $75M investment and the hotel’s opening in 2016.
The Dewberry has received accolades for its excellence, including recognition as one of the best independent hotels and features in esteemed travel publications.
With the knowledge gained from managing the hotel, Dewberry aims to infuse a similar service-driven ethos into his commercial properties.
Bennett Gottlieb, a veteran Atlanta office broker, noted the revitalized excitement in Dewberry’s office leasing strategy, emphasizing a white-glove service approach that reflects his hotel management experience.
Dewberry’s intentions for Peachtree Pointe are ambitious, utilizing recent refinancing to kickstart renovations, enhance tenant spaces, and elevate the customer experience to align with the standards of The Dewberry.
Plans involve creating a warm and inviting atmosphere at Peachtree Pointe, including thoughtful amenities like coffee services for tenants.
The situation with the Campanile building remains a topic of concern among local stakeholders, stemming from Dewberry’s initial acquisition in 2010 for $36M.
After BellSouth’s departure, he aimed to redevelop the building but faced setbacks, including challenges in securing significant leases and the impact of the pandemic on construction timelines.
Dewberry initiated a full-scale overhaul of Campanile, obtaining a substantial loan for renovations but again faced delays and market skepticism regarding the project’s future.
Despite the challenges, Dewberry has continued to advocate for his vision of Campanile’s transformation, asserting that his team has been hard at work internally, prepping for significant upcoming developments.
Discussions surrounding the project indicate that Dewberry has even negotiated leases with external companies that would occupy a substantial amount of space within the tower.
However, skepticism remains concerning the project’s completion timeline and funding, with experts doubtful of the feasibility of securing the necessary capital.
Nevertheless, Dewberry has managed to extend his financing options, indicating ongoing negotiations regarding substantial new investments.
While balancing his ambitious projects with the joys of fatherhood, Dewberry emphasizes that his daughter Pippa inspires his vision for a legacy.
He aims to leave behind not only a notable name but also a striking skyline that will endure for future generations.
Reflecting on achievements and aspirations, Dewberry mentions his desire for people to recognize his work for its high standards and lasting legacy.
When asked about upcoming projects, he expressed a casual indifference, suggesting that whatever is built will ultimately be a gift to his daughter and her future children.
image source from：bisnow
