{"id":1004485783,"date":"2020-10-20T04:09:13","date_gmt":"2020-10-20T12:09:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004485783"},"modified":"2020-10-20T05:55:18","modified_gmt":"2020-10-20T13:55:18","slug":"cushman-wakefield-to-lease-2-atlanta-office-towers","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-to-lease-2-atlanta-office-towers\/","title":{"rendered":"Cushman & Wakefield to Lease 2 Atlanta Office Towers"},"content":{"rendered":"
\"Concourse<\/a>

Concourse Corporate Center V<\/p><\/div>\n

Building and Land Technology, of Stamford, Conn., and Regent Partners, of Atlanta, have retained Cushman & Wakefield to oversee the leasing of two high-profile office towers in Atlanta\u2019s Central Perimeter submarket.<\/p>\n

The 34-story Concourse Corporate Center V and the 33-story Concourse Corporate Center VI, known as the \u201cKing and Queen\u201d buildings<\/a>, total nearly 1.4 million square feet.<\/p>\n

\n

READ ALSO<\/strong>: Attracting Office Tenants in a Post-Pandemic Environment<\/a><\/p>\n

\n

They were completed in 1988 and 1991, respectively, and underwent cosmetic renovations in 2017, according to information provided to Commercial Property Executive<\/em> by Yardi Matrix.<\/p>\n

\"Concourse<\/a>

Concourse Corporate Center VI<\/p><\/div>\n

The Cushman & Wakefield team in charge of the leasing comprises Glenn Kolker, Caroline Nolen, Re\u2019Nauta Bell and Molly Millard. Kolker called the buildings \u201ctwo of the most recognizable buildings in Atlanta.\u201d<\/p>\n

Concourse Corporate Center V and VI are 87 percent leased to a tenant roster that includes Atlanticus Holdings Corp., multinational insurance brokerage Willis Towers Watson, BCD Travel and business advisory firm Aprio.<\/p>\n

Concourse Office Park totals 2.2 million square feet of Class A office space, as well as a 372-key Westin Hotel with conference facilities and the Concourse Athletic Club, which features an indoor track, seven tennis courts, indoor\/outdoor pools, spa services, and basketball, racquetball and squash courts. Additional amenities include multiple on-site restaurants, cafes and newsstands, plus 2 miles of running\/walking trails.<\/p>\n

The park is just north of I-285 and directly east of Georgia 400. A shuttle service from the property provides access to MARTA and Perimeter Mall.<\/p>\n

Sublease space softens market<\/h2>\n

The metro Atlanta office market experienced 785,000 square feet of negative absorption in the third quarter, an amount not seen since the Great Recession, according to a third-quarter report from JLL. One of the drivers was numerous small blocks of sublease space going onto the market; metro Atlanta now has 4 million square feet of such space, nearly half of it already vacant.<\/p>\n

Year-to-date, the Central Perimeter submarket saw about 305,000 square feet of (positive) absorption in Class A office space, against an inventory of 18.7 million square feet. Total vacancy in the submarket currently is 20.4 percent, also according to JLL.<\/p>\n

In March 2019, BLT and partner Quinlan Development Group received a $152 million senior loan<\/a> from PCCP LLC for the recapitalization and lease-up of 41 Flatbush Ave., a 270,000-square-foot, 10-story office building in Brooklyn. The former warehouse building has been purchased by the borrowers in 2014 and converted into Class A creative office space.<\/p>\n","protected":false},"excerpt":{"rendered":"

Working on behalf of Building and Land Technology and Regent Partners, the firm will oversee leasing at Concourse Corporate Center V and VI, known locally as the \u201cKing and Queen\u201d buildings. <\/p>\n","protected":false},"author":882,"featured_media":1004485840,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21784,21742,21747],"tags":[35289,32799,32796,50494],"class_list":["post-1004485783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-brokerage","category-latest","category-office","tag-building-and-land-technology","tag-cushman-wakefield","tag-jll","tag-regent-partners"],"acf":[],"yoast_head":"\nCushman & Wakefield to Lease 2 Atlanta Office Towers - 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\/cushman-wakefield-to-lease-2-atlanta-office-towers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cushman & Wakefield to Lease 2 Atlanta Office Towers\" \/>\n<meta property=\"og:description\" content=\"Working on behalf of Building and Land Technology and Regent Partners, the firm will oversee leasing at Concourse Corporate Center V and VI, known locally as the \u201cKing and Queen\u201d buildings.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-to-lease-2-atlanta-office-towers\/\" \/>\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=\"2020-10-20T12:09:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-20T13:55:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/Concourse-Corporate-Center-V.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-to-lease-2-atlanta-office-towers\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-to-lease-2-atlanta-office-towers\/\",\"name\":\"Cushman & Wakefield to Lease 2 Atlanta Office Towers - 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