GID Inks 150 KSF Atlanta Lease

In the largest office leasing agreement in Atlanta so far this year, TriNet has committed to 150,000 square feet within High Street, a 36-acre mixed-use development. GID owns the $2 billion town center district.

JLL brokered the deal on behalf of both parties. The HR solutions company’s move is set to create 750 jobs over the next five years.

Located at the intersection of Perimeter Center Parkway and Hammond Drive, the development site is some 15 miles from downtown Atlanta. Upon full build-out, the project will include 672,000 square feet of Class A office space, two hotels, 400,000 square feet of shopping, dining, fitness and entertainment, as well as 3,000 luxury residential units.

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So far, GID completed the $415 million first phase of the master plan, which included two upscale apartment buildings, 90,000 square feet of loft office space and 150,000 square feet of destination retail, restaurant, entertainment and shopping. The project also has an existing 221,861-square-foot office building, a central lawn and additional public spaces.

JLL Managing Director Jeff Taylor and Executive Managing Director Adam Viente represented GID in the agreement. Managing Director Tony Guglielmi, Executive Managing Directors Rich Branning, Josh Hirsh and Dom Wyant, along with Senior Vice President Terry McGuirk and Advisor Brennan Koslow, worked on behalf of the tenant.

Atlanta’s office vacancy rate on par with national figures

Atlanta’s office vacancy rate as of March clocked in at 19.5 percent, marking a 250-basis-point increase year-over-year, according to a CommercialEdge office report. The metro’s average listing rate during the same month was $33.4, on par with the national average.

In the first quarter of the year, Greenberg Traurig signed a 105,103-square-foot lease renewal at Terminus 200, an office building within the Buckhead district, according to Cushman & Wakefield. Cousins Properties owns the 580,850-square-foot property.