{"id":1004729081,"date":"2024-09-17T02:37:25","date_gmt":"2024-09-17T10:37:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004729081"},"modified":"2024-09-17T21:55:26","modified_gmt":"2024-09-18T05:55:26","slug":"t-mobile-doubles-down-on-100-ksf-atlanta-office-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/t-mobile-doubles-down-on-100-ksf-atlanta-office-lease\/","title":{"rendered":"T-Mobile Re-Ups for 100 KSF in Atlanta"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/8256.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"800\" data-attachment-id=\"1004729085\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/t-mobile-doubles-down-on-100-ksf-atlanta-office-lease\/attachment\/8256\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/8256.jpg\" data-orig-size=\"640,800\" 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=\"One-Ravinia\" data-image-description=\"&lt;p&gt;Property at 1 Ravinia Drive, Atlanta&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Envisioned by Roche and Dinkeloo &#038; Associates, the Ravinia towers\u2019 shaded architectural design allows natural light to permeate. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/8256.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/8256.jpg\" alt=\"Exterior shot of One Ravinia, an office tower in Atlanta\" class=\"wp-image-1004729085\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/8256.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/8256.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">Envisioned by Roche and Dinkeloo &amp; Associates, the Ravinia towers total 800,000 square feet. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>T-Mobile has renewed its commitment to roughly 100,000 square feet of office space at CP Group and Farallon Capital Management\u2019s One Ravinia, a 386,603-square-foot property and part of a larger, two-building, 800,000-square-foot office campus in Atlanta.<\/p>\n\n\n\n<p>CBRE and Cushman &amp; Wakefield represented the landlord and tenant, respectively. The mobile telecommunication company has been a tenant at One Ravinia since 2007, anchoring the 17-story office tower.<\/p>\n\n\n\n<p>In 2021, a joint venture between CP Group and Farallon paid $219.5 million for a portfolio that included One and Two Ravinia, as well as One Overton Park, a 387,267-square-foot office asset in Atlanta, CommercialEdge data shows. Franklin Street Properties was the seller, while Blackstone Group funded the acquisition with a $205.4 million note set to mature in 2026.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-forging-prime-office-space\">Forging prime office space<\/h2>\n\n\n\n<p>Following the acquisition, the new ownership began upgrading Ravinia. Capital improvements were implemented to the lobbies, cafe and conference center. The landlords also added a new tenant lounge and 85,000 square feet of built-to-suit space. Work for the latter is ongoing and completion is expected in October.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/atlantas-office-market-sees-improvement-in-vacancy\/\">Atlanta\u2019s Office Market Sees Improvement<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Against the backdrop of the refurbishments, the towering duo achieved WELL Health-Safety Rating in 2023. Additionally, Two Ravinia got LEED Gold certified the same year, while One Ravinia is currently pursuing <a href=\"https:\/\/www.commercialsearch.com\/news\/leed-certification-stats-for-the-office-sector-in-2023\/\">LEED certification<\/a>.<\/p>\n\n\n\n<p>Floorplates range between 13,000 and 24,285 square feet at Ravinia One. The 42-acre campus comprises a 500-key hotel and amenities such as a gym, EV charging stations, a cafe, outdoor workspaces, as well as shuttle services to a nearby shopping center and train station, among others.<\/p>\n\n\n\n<p>Located at 1 Ravinia Drive, the tower rose in suburban Atlanta, in DeKalb County. Downtown Atlanta is roughly 15 miles southwest while Interstate 285 is less than 1 mile away. Multiple parks and quick-service restaurants can be found within walking distance.<\/p>\n\n\n\n<p>CBRE Executive Vice President Eric Ross led the negotiations on behalf of CP Group. Cushman &amp; Wakefield Executive Managing Director Kirk Diamond, together with Executive Director April Parrish and Managing Director Erin Smith, as well as Senior Transaction Manager Steven Taylor, represented T-Mobile.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-atlanta-s-office-market-is-healing\">Atlanta&#8217;s office market is healing<\/h2>\n\n\n\n<p>Greater Atlanta\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/atlantas-office-market-sees-improvement-in-vacancy\/\">office market appears to be on the mend<\/a>. The City in a Forest recorded 5.4 million square feet of office space leased during the first six months of the year, according to a <a href=\"https:\/\/www.avisonyoung.us\/documents\/d\/atlanta\/atlanta-office-market-report-2q-2024\" target=\"_blank\" rel=\"noreferrer noopener\">report by Avison Young<\/a>. The number of closed deals increased by 1.7 percent year-over-year.<\/p>\n\n\n\n<p>Although office vacancy clocked in at 32 percent in June, metro Atlanta\u2019s availability dropped by 0.6 percent quarter-over-quarter, the report goes on to show. This tightening in vacancy marked the first decrease since early 2021.<\/p>\n\n\n\n<p>What\u2019s more, the average lease-up time for office listings in the metro shrunk to 21.2 months in June\u2014a 7 percent decrease year-over-year in the time spent on the market\u2014with spec suites leasing 9 percent faster quarter-over-quarter, the report reveals. Avison Young estimates the desirability of build-to-suit space to arrive from move-in readiness during a period characterized by <a href=\"https:\/\/www.commercialsearch.com\/news\/is-the-rise-in-construction-costs-decelerating\/\">rising construction costs<\/a> affecting buildout.<\/p>\n\n\n\n<p>Other notable Atlanta office leases to close recently include Piedmont Healthcare Inc.\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/lionstone-lands-164-ksf-tenant-in-atlanta\/\">commitment to 164,221 square feet<\/a> at Lionstone Investments\u2019 540,000-square-foot property. Additionally, Newall Brands Inc. <a href=\"https:\/\/www.commercialsearch.com\/news\/atlanta-trophy-tower-lands-180-ksf-hq-lease\/\">committed to 180,000 square feet<\/a> at Concourse Office Park, a 697,400-square-foot office tower in Sandy Springs, Ga., owned by Building and Land Technology.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company anchors the property and has been a part of its roster since 2007. <\/p>\n","protected":false},"author":3471,"featured_media":1004729086,"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":[32789,51165,32799,44072,41099,41399],"class_list":["post-1004729081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-brokerage","category-latest","category-office","category-southeast","tag-cbre","tag-cp-group","tag-cushman-wakefield","tag-farallon-capital","tag-kirk-diamond","tag-t-mobile"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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