Sterling Bay, Asana Partners Break Ground on Atlanta Project

1050 Brickworks rendering. Image courtesy of Sterling Bay

Sterling Bay and Asana Partners have broken ground on 1050 Brickworks, a speculative mixed-use project in Atlanta. The 225,000-square-foot building will include Class A office space, along with ground-floor retail. The 14-story project is set to deliver by mid-2024.

Gilbane is working as the building’s general contractor. Located at 1050 W. Marietta St. NW, the project will include 14,200 square feet of retail space, 210,000 square feet of office space and 22,000 square feet of indoor and outdoor amenities. According to CommercialEdge data, the lot size is 1.43 acres.

Floors two through seven of 1050 Brickworks will have indoor parking, while the eighth floor will feature a fitness center, lounge, bar, private library, conference center and rooftop terrace overlooking Midtown and downtown. Other amenities include a main lobby space with 24-hour security and bike storage space.

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1050 Brickworks is accessible for tenants through the Brady Avenue bike path, Interstate 75 and I-85. Situated in the West Midtown area of Atlanta, the building is nearby some 140 restaurants, 220 shopping options and three hotels.

Stream Realty Partners was selected to run leasing for 1050 Brickworks. Managing Directors Bryan Heller and Peter McGuone, and Vice President Park Welton, will act as leasing agents for the property. The three were recruited from CBRE this year to create an Atlanta leasing practice.

Atlanta on an upward trend

The building is Sterling Bay’s first Atlanta project. In prepared remarks, Andy Gloor, CEO of Sterling Bay, said that Atlanta continues to solidify itself as the business capital of the Southeast. According to a Avison Young report, the Atlanta office market had more than 500,000 square feet of positive absorption in the third quarter of this year, with future fundamentals looking strong.

Significant office deals in the area this year include Hines and Invesco Real Estate’s sale of a 523,511-square-foot Midtown Atlanta office campus. The asset is fully leased to Microsoft Corp.

PCCP LLC also has plans to develop a 143,500-square-foot office space in the Old Fourth Ward neighborhood of Atlanta, scheduled for completion in 2023.