{"id":1004448481,"date":"2020-05-19T04:08:22","date_gmt":"2020-05-19T12:08:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004448481"},"modified":"2021-05-15T08:26:13","modified_gmt":"2021-05-15T16:26:13","slug":"microsoft-inks-500-ksf-plus-office-lease-in-atlanta","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/microsoft-inks-500-ksf-plus-office-lease-in-atlanta\/","title":{"rendered":"Microsoft Inks 500 KSF-Plus Office Lease in Atlanta"},"content":{"rendered":"
\"\"<\/a>

Atlantic Yards. Image courtesy of Microsoft<\/em><\/p><\/div>\n

Microsoft has leased more than half a million square feet of office space in Atlanta<\/a>\u2019s West Midtown submarket, according to an announcement by Georgia Gov. Brian Kemp.<\/p>\n

\n

READ ALSO: Some US Megaprojects Power Through in the New Normal<\/a><\/p>\n

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The new facility will occupy all 523,000 square feet in Hines\u2019 Atlantic Yards complex at Atlantic Station. It\u2019s described as \u201ca client-facing workplace that will focus on artificial intelligence and cloud services, including retail space for engaging directly with customers<\/em>.\u201d<\/p>\n

The two buildings, at 170 and 200 17th St. NW, are expected to be completed in time for Microsoft\u2019s move-in next summer. The lease\u2019s value is pegged at $75 million, and the facility is anticipated to create 1,500 new high-tech jobs across multiple skill sets.<\/p>\n

Microsoft currently operates a cloud computing engineering center in the Coda Building at Technology Square and maintains offices in Alpharetta and Buckhead.<\/p>\n

In 2017, Hines and Invesco Real Estate undertook a joint venture on behalf of one of Invesco\u2019s institutional clients to develop the two progressive office buildings. The project\u2019s planned amenities included fitness, dining, roof-top terraces, bike storage and collaboration areas, in addition to the retail offerings of Atlantic Station. The design architect is Hartshorne Plunkard Architecture, and the architect of record is Wakefield Beasley & Associates.<\/p>\n

Getting even bigger<\/h2>\n

The West Midtown Class A office submarket had an average vacancy of 11.7 percent on an inventory of 21.4 million square feet in the first quarter of 2020, according to a report from Avison Young. Year-to-date net absorption was about 680,000 square feet, and nearly 3.1 million square feet of office space was under construction in the submarket, Avison Young noted. The average asking Class A rent was $41.49.<\/p>\n

In the continuing build-out of the $2 billion Atlantic Station, in August Horizon Hospitality Management obtained construction financing of $38.7 million<\/a> for its Embassy Suites Atlantic Station, a six-story, 181-key full-service hotel at 17th and State streets. And in November, Square Inc. nearly doubled its lease<\/a>, from 29,000 to 55,000 square feet, at Lionstone Investments\u2019 BB&T Tower, the tallest office building in Atlantic Station.<\/p>\n","protected":false},"excerpt":{"rendered":"

At one stroke, the company\u2019s move fills all of Hines\u2019 two-building Atlantic Yards project in the West Midtown neighborhood and brings 1,500 new jobs to the city. <\/p>\n","protected":false},"author":882,"featured_media":1004448652,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21784,21743,21782,21742,21747],"tags":[33022,32797,33882,33865,35187],"class_list":["post-1004448481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-brokerage","category-deals","category-development","category-latest","category-office","tag-avison-young","tag-hines","tag-invesco-real-estate","tag-microsoft","tag-wakefield-beasley-associates"],"acf":[],"yoast_head":"\nMicrosoft Inks 500 KSF-Plus Office Lease in Atlanta - 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\/microsoft-inks-500-ksf-plus-office-lease-in-atlanta\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Microsoft Inks 500 KSF-Plus Office Lease in Atlanta\" \/>\n<meta property=\"og:description\" content=\"At one stroke, the company\u2019s move fills all of Hines\u2019 two-building Atlantic Yards project in the West Midtown neighborhood and brings 1,500 new jobs to the city.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/microsoft-inks-500-ksf-plus-office-lease-in-atlanta\/\" \/>\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=\"2020-05-19T12:08:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T16:26:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Atlantic-Yards.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/microsoft-inks-500-ksf-plus-office-lease-in-atlanta\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/microsoft-inks-500-ksf-plus-office-lease-in-atlanta\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Microsoft Inks 500 KSF-Plus Office Lease in Atlanta\",\"datePublished\":\"2020-05-19T12:08:22+00:00\",\"dateModified\":\"2021-05-15T16:26:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/microsoft-inks-500-ksf-plus-office-lease-in-atlanta\\\/\"},\"wordCount\":359,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/microsoft-inks-500-ksf-plus-office-lease-in-atlanta\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/05\\\/Atlantic-Yards.png\",\"keywords\":[\"Avison Young\",\"Hines\",\"Invesco Real Estate\",\"Microsoft\",\"Wakefield Beasley Associates\"],\"articleSection\":[\"Atlanta\",\"Brokerage\",\"Deals\",\"Development\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/microsoft-inks-500-ksf-plus-office-lease-in-atlanta\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/microsoft-inks-500-ksf-plus-office-lease-in-atlanta\\\/\",\"name\":\"Microsoft Inks 500 KSF-Plus Office Lease in Atlanta - 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