Franklin Street Closes 4 Atlanta Leases

By Roxana Baiceanu

One Overton Park

Franklin Street Properties Corp., the owner of One Overton Park in Atlanta’s Galleria submarket, has closed four leases at its Class A office building. The REIT welcomed two new tenants, Carestream Dental and KPMG, and continued its relationship with OneBeacon Services and Randstad. The transactions, which totaled 82,000 square feet, included:

• a 54,000-square-foot new lease for 130 months (Carestream Dental)
• a 10,100-square-foot new lease for 67 months (KPMG)
• a 7,322-square-foot lease extension until January 2024 (OneBeacon Services)
• a lease expansion by 11,000 square feet until May 2024 (Randstad General Partners)

Carestream Dental will use the new space as its worldwide headquarters.

FSP, which closed a $1 billion credit facility expansion last year, has owned One Overton Park since 2006, when it acquired it from Hines Interests for $85 million, according to Yardi Matrix data. Completed in 2001, the 378,267-square-foot building is LEED certified to the Gold level and includes 6,000 square feet of retail space. Its location at 3625 Cumberland Blvd. provides tenants with convenient access to Interstate 75 and Larry McDonald Memorial Highway.

Image courtesy of Yardi Matrix