By Timea Papp
Avison Young has arranged a long-term, 13,440-square-foot lease for iResearch Atlanta at an office building in downtown Decatur, Ga. The new tenant signed an 11-year lease at the roughly 142,000-square-foot property and will begin occupying the entire eighth floor of the property in January 2019.
Located at 250 E. Ponce, the Class A building was completed in 1962 and underwent extensive renovations in 2017. The property is currently 91 percent leased and home to notable tenants such as Wells Fargo, ELS Educational Service Inc. and Emory.
Avison Young Principal Kirk Rich worked on behalf of the landlord, The Dilweg Cos., while Kevin Lynch of Keller Knapp represented the tenant. iResearch Atlanta is a multi-specialty clinical research center focused on the study of new medications for mental health and medical illnesses.
“iResearch is one of many companies that recognize and appreciate the healthy mix of commercial, retail, restaurant and residential uses within the downtown Decatur commercial district. The Decatur market continues to show positive momentum, and we expect activity to continue on an upward trajectory,” Rich said in prepared remarks.
Since The Dilweg Cos. selected Avison Young as the exclusive leasing agent for 250 E. Ponce last year, the company has closed more than 55,000 square feet of new deals. Most recently, Utility Associates agreed to lease approximately 40,000 square feet for an eight-year term.
Image courtesy of Yardi Matrix