Trammell Crow Company (TCC) and a joint venture partner advised by CBRE Global Investors have unveiled plans for a 3.94-acre site that sits in the heart of Atlanta’s Central Perimeter and is directly connected to the Dunwoody Marta Station. The site, which TCC acquired on December 15, 2017, will be home to Twelve24, a new, transit-oriented 16-story office tower featuring 334,000 square feet of Class A office space along with 11,000 square feet of ground floor retail and restaurants. In addition, Insight Global, a national staffing and services company, has signed a long-term lease for approximately 60 percent of the building. Twelve24 is expected to break ground in summer 2018 and complete in early 2020.
”We are excited to have secured a new headquarters facility that can accommodate our growth and gives us the opportunity to design a space reflecting who we are as a company, all while remaining in the Central Perimeter area with great access for our clients and employees,” said Glenn Johnson, Insight Global’s Chairman and CEO.
Twelve24 will feature large, open floorplates with floor-to-ceiling glass, extensive outdoor terraces within tenant spaces and within the building’s common areas. The project will also feature best-in-class amenities including a great room (a lounge and collaboration area for tenants and guests), a conference center, an executive-level fitness center, and on-site restaurants. The development team is seeking LEED Gold Certification. Additionally, TCC is working with Concord Hospitality Enterprises to develop a 10-story, 180-room select service hotel directly connected to Twelve24. Hotel guests and Twelve24 tenants will share the elevated outdoor terrace level between the two buildings.
“TCC’s strategy to re-enter the Atlanta office market was to identify a site and building design allowing for one of the most unique office development opportunities in the Atlanta metro area,” said Brandon Houston, Principal with TCC’s Atlanta Business Unit. “Twelve24’s transit-oriented mixed-use environment with the combination of restaurants, retail, office, and hospitality creates a truly exceptional work space environment. The architecture of the building allows our anchor tenant, Insight Global, and our other tenants, the ability to office in a location where they can connect, innovate, and advance their businesses. We are excited to be working with Insight Global during the design phase to create a successful project outcome for all project stakeholders.”
The site is located in Atlanta’s largest office submarket and Twelve24 will be the only multi-tenant office building with direct access to MARTA’s Dunwoody Station. It is adjacent to the Perimeter Mall for a variety of restaurants, shopping and entertainment venues. Additionally, the City of Dunwoody City Council recently passed a new zoning ordinance to allow for future densification and walkable, pedestrian-friendly destinations along Hammond Drive, which is the main street for the project. The project sits minutes from GA-400 and I-285 via multiple routes allowing easy access to numerous northern Atlanta communities.
“We were immediately impressed by the quality and user-focused nature of the Twelve24 project,” said Nathan Zinn, Portfolio Manager, CBRE Global Investors. “Securing a premier anchor tenant like Insight Global is confirmation of the project’s strong appeal, and we look forward to working with TCC to deliver it to the market.”
Jodi Selvey and Emily Richardson with Colliers International represented Insight Global, and Eric Ross with CBRE is representing Twelve24 on behalf of the ownership. Duda Paine Architects is the design architect, and Wakefield Beasley & Associates is the architect of record.
About Insight Global
Insight Global is a national staffing and services company that specializes in sourcing information technology, accounting, finance, and engineering professionals, and delivering service-based solutions to Fortune 1000 clients. Insight Global completes more than 33,000 placements annually in short-term, long-term, contract-to-hire, and direct placement positions through our network of more than 43 regional offices across the U.S. and Canada. The company has been ranked one of the fastest growing staffing firms for the past 10 consecutive years, and named the 3rd largest IT staffing firm in America by Staffing Industry Analysts for three consecutive years. We offer unmatched customer service by developing an in-depth understanding of client needs, providing qualified professionals, and tailoring managed services solutions for large projects, which allows clients to focus on expanding their business and achieving their goals.
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $98.3 billion in assets under management* as of September 30, 2017.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. As of September 30, 2016, TCC had $7.1 billion of projects in process and $3.7 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). For more information, visitwww.TrammellCrow.com.
