{"id":1004718254,"date":"2024-06-20T03:23:13","date_gmt":"2024-06-20T11:23:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004718254"},"modified":"2024-06-20T07:02:43","modified_gmt":"2024-06-20T15:02:43","slug":"atlanta-trophy-tower-lands-180-ksf-hq-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/","title":{"rendered":"Atlanta Trophy Tower Lands 180 KSF Tenant"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004718255\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/6-concourse-pkwy\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"6 Concourse Pkwy\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Queen tower rises 33 stories at 6 Concourse Parkway. Image courtesy of CommericalEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg\" alt=\"The Queen Tower at 6 Concourse Pkwy\" class=\"wp-image-1004718255\" style=\"object-fit:cover;width:400px;height:300px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><figcaption class=\"wp-element-caption\">The Queen tower rises 33 stories at 6 Concourse Parkway. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Building and Land Technology has secured a 180,000-square-foot leasing agreement at Concourse Office Park in Sandy Springs, Ga., as reported by <em>Atlanta Business Journal<\/em>. Newell Brands Inc. will move its headquarters to the property&#8217;s Queen tower by mid-2025. Cushman &amp; Wakefield brokered the transaction on behalf of both parties. <\/p>\n\n\n\n<p>Newell will relocate from 6655 Peachtree Dunwoody Road where it has resided for almost a decade, expanding its footprint at the new location by some 20 percent. The consumer goods company acquired that property from U.S. Bank &#8211; REO back in 2015 for $14.5 million, according to CommercialEdge data. Following the relocation, Newell will fully occupy floors seven through 11, along with floors 15 and 17, as well as the first floor at the Building and Land Technology-owned tower.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/atlanta-office-activity-contracted-in-q1\/\">Atlanta Office Activity Contracts in Q1<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The move is part of a wider company restructuring initiative by Newell, according to the same source, which also includes consolidating the firm\u2019s business units, streamlining its office footprint and reducing its office workforce by 7 percent. The tenant also plans to invest more than $50 million in the new location, public documents show.<\/p>\n\n\n\n<p>Completed in 1991, the Queen tower rises 33 stories and spans some 697,400 square feet. Building and Land Technology acquired it in 2015 from Regent Partners as part of a larger $489 million portfolio transaction, CommercialEdge information reveals. In 2017, the asset became subject to a $259.7 million loan, held by Morgan Stanley Bank, that also encumbered the King tower. Other tenants at the property include Verifacto, System Soft Technologies and Quest Financial.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-large-office-commitment-for-atlanta\">A large office commitment for Atlanta<\/h2>\n\n\n\n<p>The Newell lease brought the building\u2019s occupancy to 92 percent. The deal represents the fifth new lease encompassing more than 100,000 square feet in the second quarter and the largest office lease in the Central Perimeter since 2018, according to Cushman &amp; Wakefield.<\/p>\n\n\n\n<p>Located at 6 Concourse Parkway, the building is off Interstate 285 and roughly 16 miles north of downtown Atlanta. It is also within walking distance of Perimeter Mall, as well as other retail offerings.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield Senior Director Caroline Nolen, Managing Director Andy Sumlin and Director Jillian Bailey represented the landlord in the transaction. The company\u2019s Executive Director April Parrish, Senior Director Joe Garvey and Executive Managing Director Kirk Diamond, along with Managing Director Erin Smith and Senior Transaction Manager Steven Taylor, worked on behalf of the tenant.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-atlanta-s-office-leasing-landscape\">Atlanta&#8217;s office leasing landscape<\/h2>\n\n\n\n<p>As of April, the average listing rate in Atlanta\u2019s office market stood at $31.68, below the national figure of $37.66 but up 3.8 percent year-over-year, according to <a href=\"https:\/\/www.commercialsearch.com\/news\/office-distress-risks-rising\/\">a recent CommercialEdge report<\/a>. The vacancy rate in the metro clocked in at 18.4 percent, on par with the 18.3 percent national rate, and 130 basis points lower than the one recorded last April.<\/p>\n\n\n\n<p>Recently, Stream Realty Partners has been <a href=\"https:\/\/www.commercialsearch.com\/news\/stream-realty-to-lease-438-ksf-atlanta-tower\/\">tapped to lease 3630 Peachtree<\/a>, a Class A+ Atlanta office building spanning 438,000 square feet. The owner, Granite Properties, acquired the asset back in 2022 from Heitman, paying $202 million for it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal marks the largest office lease in the Central Perimeter since 2018.<\/p>\n","protected":false},"author":3120,"featured_media":1004718255,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21784,21742,21747,32781],"tags":[35289,32799,33603],"class_list":["post-1004718254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-brokerage","category-latest","category-office","category-southeast","tag-building-and-land-technology","tag-cushman-wakefield","tag-morgan-stanley-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Atlanta Trophy Tower Lands 180 KSF Tenant - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Building and Land Technology has secured a 180,000-square-foot leasing agreement, at the Queen tower within Concourse Office ParK.\" \/>\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-trophy-tower-lands-180-ksf-hq-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlanta Trophy Tower Lands 180 KSF Tenant\" \/>\n<meta property=\"og:description\" content=\"Building and Land Technology has secured a 180,000-square-foot leasing agreement, at the Queen tower within Concourse Office ParK.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/\" \/>\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=\"2024-06-20T11:23:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T15:02:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Radu Corfus\" \/>\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-trophy-tower-lands-180-ksf-hq-lease\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/\",\"name\":\"Atlanta Trophy Tower Lands 180 KSF Tenant - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg\",\"datePublished\":\"2024-06-20T11:23:13+00:00\",\"dateModified\":\"2024-06-20T15:02:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2\"},\"description\":\"Building and Land Technology has secured a 180,000-square-foot leasing agreement, at the Queen tower within Concourse Office ParK.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg\",\"width\":640,\"height\":480,\"caption\":\"The Queen tower rises 33 stories at 6 Concourse Parkway. Image courtesy of CommericalEdge\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Atlanta Trophy Tower Lands 180 KSF Tenant\"}]},{\"@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\/a04f9fc8d7ed936167c8786eb77e39c2\",\"name\":\"Radu Corfus\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72\",\"caption\":\"Radu Corfus\"},\"description\":\"Radu Corfus is an Associate Editor at Multi-Housing News and Commercial Property Executive with a background in creative writing and copywriting. He joined the Yardi team in 2022. Before writing for CPE and MHN, Radu collaborated on story writing for animations while finishing his studies in Japanese and English language and literature.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/radu-corfus\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Atlanta Trophy Tower Lands 180 KSF Tenant - Commercial Property Executive","description":"Building and Land Technology has secured a 180,000-square-foot leasing agreement, at the Queen tower within Concourse Office ParK.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/","og_locale":"en_US","og_type":"article","og_title":"Atlanta Trophy Tower Lands 180 KSF Tenant","og_description":"Building and Land Technology has secured a 180,000-square-foot leasing agreement, at the Queen tower within Concourse Office ParK.","og_url":"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-06-20T11:23:13+00:00","article_modified_time":"2024-06-20T15:02:43+00:00","og_image":[{"width":640,"height":480,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg","type":"image\/jpeg"}],"author":"Radu Corfus","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/","url":"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/","name":"Atlanta Trophy Tower Lands 180 KSF Tenant - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg","datePublished":"2024-06-20T11:23:13+00:00","dateModified":"2024-06-20T15:02:43+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2"},"description":"Building and Land Technology has secured a 180,000-square-foot leasing agreement, at the Queen tower within Concourse Office ParK.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg","width":640,"height":480,"caption":"The Queen tower rises 33 stories at 6 Concourse Parkway. Image courtesy of CommericalEdge"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Atlanta Trophy Tower Lands 180 KSF Tenant"}]},{"@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\/a04f9fc8d7ed936167c8786eb77e39c2","name":"Radu Corfus","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72","caption":"Radu Corfus"},"description":"Radu Corfus is an Associate Editor at Multi-Housing News and Commercial Property Executive with a background in creative writing and copywriting. He joined the Yardi team in 2022. Before writing for CPE and MHN, Radu collaborated on story writing for animations while finishing his studies in Japanese and English language and literature.","url":"https:\/\/www.commercialsearch.com\/news\/author\/radu-corfus\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/6-Concourse-Pkwy-e1718878636369.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004718254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3120"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004718254"}],"version-history":[{"count":9,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004718254\/revisions"}],"predecessor-version":[{"id":1004718371,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004718254\/revisions\/1004718371"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004718255"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004718254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004718254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004718254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}