{"id":1004189022,"date":"2017-08-30T11:55:48","date_gmt":"2017-08-30T19:55:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004189022"},"modified":"2022-12-09T01:45:18","modified_gmt":"2022-12-09T09:45:18","slug":"atlanta-plaza-to-undergo-major-upgrade","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atlanta-plaza-to-undergo-major-upgrade\/","title":{"rendered":"Atlanta Plaza to Undergo Major Upgrade"},"content":{"rendered":"

By Timea Papp<\/p>\n

Banyan Street Capital has embarked on a capital improvement program at Atlanta Plaza, a 631,808-square-foot, Class A office tower in Atlanta\u2019s Buckhead submarket. The owner partnered with architecture company Perkins+Will to transform the property by paying homage to prominent Atlanta local John Ottley. Renovations are slated for completion by the end of 2017.<\/p>\n

Located at 950 E. Paces Ferry Road on a 2.18-acre site, the building was completed in 1986 and underwent major renovations under previous ownership. The new improvement plan<\/a> includes remodeling the lobby and entry to the building, adding new amenities and outdoor spaces, as well as upgrading corridors and expanding conference facilities. The entry will open to East Paces Ferry, which is under an expansion process through the Buckhead Community Improvement District.<\/p>\n

Notable tenancy<\/h2>\n

The 34-story asset offers tenants a wide array of amenities including concierge services, on-site dry cleaning and a fitness center, bike storage and showers. Located at MARTA\u2019s Lenox station, the property provides direct access to public transit. Atlanta Plaza\u2019s varied roster features tenants such as Salesforce.com, RentPath, Securities and Exchange Commission, Wells Fargo and Rubicon.<\/p>\n

According to Yardi Matrix, Banyan Street Capital acquired the property in a joint venture partnership with Oaktree Capital Management for $137 million in August 2016. Since the purchase, CBRE Senior Vice President Chris Port and Associate Nicole Goldsmith have spearheaded marketing efforts on behalf of ownership.<\/p>\n

\u201cThe timing with renovations at Atlanta Plaza and the Buckhead CID\u2019s road improvements align perfectly, furthering increasing the appeal of this building and the submarket. Keeping the brand of the building intact, while seamlessly adding technology infrastructure and tenant comforts will be critical in ensuring the success of the renovation efforts,\u201d<\/em> said Port, in prepared remarks.<\/p>\n

Atlanta Plaza has multiple ingress and egress points to Interstates 84 and 85, as well as Georgia State Route 400. Additionally, the property sits along the PATH400 Greenway Trail, a multi-use trail under construction which will connect to parks, multifamily buildings, restaurants and retail venues.<\/p>\n

Renderings courtesy of Banyan Street Capital<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The ownership\u2019s modernization project will serve as an homage to Atlanta\u2019s John Ottley while incorporating modern strategies for workplace design.<\/p>\n","protected":false},"author":240,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21782,21742,21747],"tags":[32943,32789,32944,34606],"class_list":["post-1004189022","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-development","category-latest","category-office","tag-banyan-street-capital","tag-cbre","tag-oaktree-capital-management","tag-perkins-will-architects"],"acf":[],"yoast_head":"\nAtlanta Plaza to Undergo Major Upgrade - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/atlanta-plaza-to-undergo-major-upgrade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlanta Plaza to Undergo Major Upgrade\" \/>\n<meta property=\"og:description\" content=\"The ownership\u2019s modernization project will serve as an homage to Atlanta\u2019s John Ottley while incorporating modern strategies for workplace design.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/atlanta-plaza-to-undergo-major-upgrade\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-30T19:55:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:45:18+00:00\" \/>\n<meta name=\"author\" content=\"Timea-Erika Papp\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-plaza-to-undergo-major-upgrade\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-plaza-to-undergo-major-upgrade\/\",\"name\":\"Atlanta Plaza to Undergo Major Upgrade - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"datePublished\":\"2017-08-30T19:55:48+00:00\",\"dateModified\":\"2022-12-09T09:45:18+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-plaza-to-undergo-major-upgrade\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/atlanta-plaza-to-undergo-major-upgrade\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-plaza-to-undergo-major-upgrade\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Atlanta Plaza to Undergo Major Upgrade\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae\",\"name\":\"Timea-Erika Papp\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"caption\":\"Timea-Erika Papp\"},\"description\":\"Timea is a senior writer covering CRE marketing, tech and real estate trends, as well as industry news in the U.S. Timea was previously a senior associate editor at Multi-Housing News and Commercial Property Executive and has an academic background in law. 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