Invest Atlanta Moves to Georgia-Pacific Tower; Parkway Also Signs New Tenants

By Georgiana Mihaila, Associate Editor

Invest Atlanta, the city’s official economic development authority, will soon be leaving its Pryor Street headquarters for the Georgia-Pacific Center; the agency signed a 13-year lease with landlord GA-MET—a joint venture of Metropolitan Life Insurance Company and Georgia-Pacific LLC—for 18,701 square feet on the 29^th floor of the downtown office tower.

“The new location will help the city re-launch its economic development efforts by locating in a space commensurate with other world-class cities,” said Bradley Fulkerson, a managing director in Cassidy Turley’s Atlanta office who, along with Cassidy Turley’s April Hawkinson, represented Invest Atlanta in the lease negotiations. “As a committed corporate citizen, it was also our pleasure to contribute our compensation for this project to Invest Atlanta to allow them to offset the costs of the move.” The Atlanta office of Cassidy Turley has donated its commission of more than $225,000 to Invest Atlanta to help with the costs of the move. Brooke Dewey and Jeff Frantz of Jones Lang LaSalle represented the owner in the transaction.

Invest Atlanta will move its operations on December 1, enabling Atlanta Beltline’s expansion at 86 Pryor Street, where the two are currently located, a strategy that eases both agencies’ expansion needs. The Interiors Group of commercial real estate firm Carter is providing project management services as the office is being prepared for occupancy, and VeenendaalCave is the interior designer.

In other commercial real estate news, Parkway Properties announced that it has signed a total of 33,000 square feet of new and expansion leases at Peachtree Dunwoody Pavilion, backfilling approximately 37 percent of the previously listed space that will be vacated by Cox Communications on June 30. This leasing activity consists of a 23,000 square foot new lease signed with CBS Broadcasting Inc. that expires January 31, 2023, and a 10,000 square foot expansion by a major national health insurance carrier that expires April 30, 2016, which is coterminous with its existing lease at the property.

Image Courtesy of Connor.carey via Wikimedia Commons