Anchored by Gwinnett’s Infinite Energy Center, the mixed-use community will open in 2020
North American Properties (NAP) has retained CBRE to lease 750,000 square feet of high-tech office space at Revel, a $900 million entertainment-focused mixed-use destination anchored by Infinite Energy Center in Gwinnett County. Revel will introduce the first opportunity in the Sugarloaf submarket to lease office space within an activated experiential mixed-use community.
In addition to the 750,000 square feet of Class A office space, the 118-acre mixed-use community will feature 400,000 square feet of street-level retail, restaurant and entertainment uses, which include a bowling alley; a 25,000-square-foot food hall, a 55,000-square-foot premium movie theater, a 20,000-square-foot grocery market and a 35,000-square-foot fitness center; 840 multifamily homes; 50 single family homes; a 300-room 4-star hotel; and a public realm that hosts over 1,000 events for the community each year. NAP recently filed plans with the state to have the project reviewed as a development of regional impact.
“Modern office tenants want an authentic, walkable community experience that excites their employees to be at the office every day,” said Heather Lamb, first vice president at CBRE. “There is pent-up demand for office space with access to urban amenities in suburban markets. Since the announcement of Revel, we are seeing strong interest from cutting-edge companies looking for workspace in an experiential mixed-use environment to recruit and retain the best talent available.”
According to CBRE research, the Class A Sugarloaf office market is currently at 9 percent vacancy with the largest available space at 20,000 square feet. Revel is the first new office construction in the Sugarloaf market since 2009. Within a 30-minute drive time of Revel, there are 1.6 million residents with an average household income over $98,000. With direct access to the Interstate 85 corridor, Gwinnett County is one of the fastest growing counties in the nation. The CBRE office leasing team includes Lamb, senior vice president Bryan Heller, first vice president Peter McGuone and associate Parker Nelson.
Revel’s office space will be equipped with Gigabit connectivity and smart technology required by high-tech users today. Office tenants will also enjoy the resort-level concierge services and experiential retail environments that NAP is known for providing.
“Revel will not only transform the experience for 1.2 million event goers at Infinite Energy Center, it will also create an entirely new destination for Gwinnett’s residents, office workers and visitors to commune,” said Mark Toro, managing partner of NAP. “Great food, great entertainment and resort-inspired hospitality are the cornerstones for the Revel experience. Just like Alpharetta has Avalon and Midtown has Colony Square, we look forward to delivering a project that will become the heartbeat of Gwinnett.”
About North American Properties
Founded in 1954, North American Properties is a privately held, multi-regional real estate operating and development company that has acquired, developed and managed more than $7 billion of mixed-use, retail, multifamily and office properties across the United States. Rooted in its purpose-driven approach to development, North American Properties is creating great places that connect people to each other; cities to their souls; partners to opportunities; and individuals to experiences that move them. Headquartered in Cincinnati, with offices in Atlanta, Dallas and Fort Myers, Florida, the company has developed 22 million square feet of commercial space and 19,000 residential units in 15 states and 67 cities. In the past three years, North American Properties has launched 36 projects totaling $2.2 billion in total capitalization. In metro Atlanta, North American Properties led the turnaround of Atlantic Station and the ground up development of Avalon. Currently, the team’s $3.8 billion retail-driven mixed-use development pipeline includes: Colony Square in Midtown Atlanta, Revel in Gwinnett County, Georgia and Riverton in the New York metro area.
About CBRE
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
