Colliers leased more than 267,000 square feet of space in the past year with 47,420 square feet of expansions
Since the beginning of last year, Peachtree Center and Marquis Towers executed more than 30 office leases totaling 267,478 square feet of new and expanded space for tenants. The flurry of deals reflects both tenants’ commitment to Peachtree Center amidst a major renovation nearing completion at the mixed-use development and the growth and vibrancy of the Downtown submarket as a whole.
In the first quarter of 2019, current tenants State Railway Toll Authority, Fellow Labriola, Juvare, Atlanta Volunteer Lawyers Foundation, Multi-Agency Alliance for Children and Drew Eckl Farnham Law expanded their spaces at Peachtree Center and Marquis Towers totaling 47,420 square feet.
“Peachtree Center is the perfect home for Juvare,” remarked Bob Watson, CEO, Juvare. “Our team is as diverse as the city of Atlanta and being in the center of it all with easy access to MARTA, tons of restaurants and retail, and the buzz of the city is a key to our teams’ success.”
In November 2018, Colliers announced Habitat for Humanity signed a 54,606-sqaure-foot lease in the Marquis Two tower. The deal represented one of Colliers’ largest deals of 2018. The global non-profit is moving its administrative headquarters from 270 Peachtree and will occupy its new space at Peachtree Center in November. Habitat for Humanity joined Peachtree Center’s extensive roster of non-profit tenants and was the 20th tenant to expand or move into Peachtree Center last year.
Scott DeMyer and Emily Richardson handle leasing efforts for Peachtree Center’s four core towers, while Deming Fish and Jessica Doyle represent the upscale Marquis Towers on Peachtree Center Avenue. The Marquis Towers are known for skyline views through floor-to-ceiling windows and bright, efficient floorplans.
“In the past four months we’ve experienced a surplus of tenants looking to expand their current offices and welcomed exciting new tenants to Marquis Towers,” Fish said. “By continuously choosing Peachtree Center, these tenants are showing their commitment to this iconic office experience, excitement for its modernization and affinity for Downtown Atlanta as a whole.”
According to Colliers, Downtown led the Atlanta market in office absorption last year with 230,852 square feet absorbed. The submarket absorbed more than 100,000 square feet each quarter in 2018 which resulted in Downtown having the highest occupancy gains in Atlanta. In 2018, Downtown Atlanta had its best year of occupancy gains since 2008.
In May, Peachtree Center is on track to complete the massive redevelopment of its public spaces and retail center known as The Hub. The iconic building spent the past year adding new eateries and experiences and modernizing its design. The renovated community has enhanced the experience offered to Peachtree Center’s office tenants, which already includes seamless transit access and proximity to over 50 restaurants and shops. Additionally, Peachtree Center’s Marquis Towers will benefit from the renovation project with a new fitness center and conference center this year.
For more information on Peachtree Center, visit peachtreecenter.comor call Scott DeMyer at 404-781-0217. For more information on Marquis Towers, visit marquistowersatl.com or call Deming Fish at 404-877-9270. For more information on Juvare, visit juvare.com.
About Peachtree Center:
Peachtree Center, developed by renowned architect John Portman, is an office, retail and dining destination in the heart of Downtown Atlanta. Comprised of six high-rise office buildings and more than 50 shops and restaurants in The Hub, Peachtree Center is centrally located over a MARTA station and adjacent to three hotels accessible by pedestrian bridges. Banyan Street Capital, one of the largest private office owners in Atlanta and throughout the East Coast, recapped Peachtree Center in 2014 after a nine-year association with the property, with the vision of creating enhanced community and a modern, vibrant environment for tenants. For the latest information on Peachtree Center, visit www.peachtreecenter.com and www.marquistowersatl.com engage with Peachtree Center on Twitter, Instagram and Facebook.
About Colliers International:
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.
Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.
