Spear Street Lands 148 KSF Renewal in Atlanta

A law firm will continue to occupy the space for another 15 years.

Kilpatrick, Townsend & Stockton LLP has renewed its 148,000-square-foot lease at 1100 Peachtree, a Midtown Atlanta office building, for another 15 years. Cushman & Wakefield represented the tenant, while JLL worked on behalf of the landlord, Spear Street Capital.

The global law firm has been a tenant at the 28-story property since 1992. The 548,066-square-foot building was 76 percent leased at the time of the agreement.

Spear Street Capital acquired the asset back in May, according to Yardi Matrix information. The firm paid $133.8 million for it and took out a $82.8 million loan from Blackstone Group. Manulife Investment Management sold the high-rise.


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Since then, the owner completed a $14 million lobby renovation that also included collaborative work zones. The company is currently upgrading the conference and fitness centers, with completion scheduled this quarter, as well as the building’s street-level experience.

Kilpatrick’s space also comprises the high-rise’s last floor, which has high-tech amenities, a courtroom and collaboration spaces. The building has floorplates averaging 22,578 square feet, as well as almost 9,000 square feet of retail space.

The LEED Gold-certified tower is close to Interstate 85 and 2 miles from the city’s downtown. Hartsfield-Jackson Atlanta International Airport is within 12 miles southwest.

Cushman & Wakefield Executive Directors Sam Hollis, John Izard and Ken Ashley, along with Senior Director Christian Taylor, represented Kilpatrick. JLL Executive Managing Director Brooke Dewey and Vice President Alexis Vondersaar lead leasing for 1100 Peachtree.

Atlanta’s rising office vacancy rate

Atlanta’s office vacancy rate at the end of November clocked in at 19.9 percent, 140 basis points above the national average, according to a recent Yardi Matrix office report. Additionally, this figure was 170 basis points higher year-over-year.

In one of the largest deals of last year in the metro, TriNet committed to 150,000 square feet of office space within High Street, GID’s mixed-use town center district. The company’s move is expected to create 750 jobs over the next years.