Software Firm Doubles Atlanta HQ

Terminus 100. Image courtesy of Colliers

QGenda has signed a two-floor, 47,670-square-foot expansion at Terminus 100, a 650,000-square-foot office tower in Atlanta’s Buckhead. Starting May 1, 2022, the health-care software company will occupy 95,340 square feet across four full floors at the Class A building owned by Cousins Properties.

QGenda has been a tenant at the location since 2019, when the company signed a nearly 48,000-square-foot lease for its headquarters relocation and expansion. Roughly 300 of its employees started working at the Terminus 100 offices in 2020.

Andrew Waguespack and Pete Shelton, senior vice presidents and principals at Colliers, negotiated the new lease expansion. The same brokerage duo had arranged QGenda’s relocation to Terminus 100 in 2019.

According to a recent Colliers report, Buckhead witnessed its seventh consecutive quarterly occupancy loss in the third quarter of 2021, mostly due to Blue Cross Blue Shield relocating out of its 214,000-square-foot office space at 3350 Peachtree to a Midtown location. The overall vacancy was at 20.3 percent, a 90-basis-point rise when compared to the second quarter.

However, the same research report shows that metro Atlanta is leading the nation with 2 million square feet of office space absorbed in the third quarter. Overall vacancy dropped to 16.4 percent, the first decline in more than a year.

A Cousins Properties’ development

Cousins developed the 27-story building that came online in 2007. In 2013, JP Morgan Asset Management acquired a 50 percent stake in Terminus 100 and the neighboring Terminus 200. Cousins regained full ownership of the two towers in 2019, in a $503 million deal.

Terminus 100 rises at 3280 Peachtree Road NE on a 3.7-acre site located 9 miles north of downtown Atlanta, in the heart of the Buckhead submarket. The LEED Gold-certified property features floorplates of 22,500 to 23,500 square feet and some 65,000 square feet of retail, as well as a 14-story, 2,100-space parking structure. The building has several big names on its tenant roster, such as Morgan Stanley, Wells Fargo and WeWork, which signed a 14-year lease at the location in 2018.