Newest Tenant Provides Boost to Launch of City’s Economic Development Campaign
The City of Decatur announced that WeWork, the coworking office space provider, has leased 33,000 square feet of office space in downtown Decatur, marking the city’s latest success in attracting companies and coming shortly after the launch of a new economic development campaign.
WeWork will occupy all of the office space at 120 West Trinity Place in downtown Decatur and will be able to provide workspace for more than 540 members. The building is being constructed on a 4.7-acre site once owned by DeKalb County but acquired by the Decatur Downtown Development Authority (DDA) in 2013 with hopes of redeveloping the location.
Atlanta-based office REIT Cousins Properties purchased the property from the DDA in 2016 and began construction with its partner, AMLI Residential, on a mixed-use development that will offer 330 apartments, 19,000 square feet of retail and restaurant space and 33,000 square feet of office space. Construction is underway and expected to be completed in early 2020.
“Cousins and AMLI are thrilled to partner with the City of Decatur to create a compelling mixed-use development adjacent to MARTA. We believe the project will be a terrific addition to downtown Decatur,” said Colin Connolly, President and Chief Executive Officer of Cousins.
“We welcome the announcement that WeWork is leasing all of the office space at the 120 West Trinity site in downtown Decatur,” said Decatur mayor Patti Garrett. “The City of Decatur has always been supportive of smaller, creative businesses that are entrepreneur-driven, so combining this new building with the announcement by WeWork brings much needed office space and an expanded environment for 21stcentury businesses in our downtown district.”
With this deal, WeWork will have more than 750,000 square feet of community space throughout metro Atlanta.
“WeWork is excited to officially plant its roots in Decatur, a city full of history and character that we’ve been eyeing for some time now,” said WeWork Southeast General Manager Bobby Condon. “WeWork 120 West Trinity Place will be centrally located in downtown Decatur where our members can take advantage of walkability, public transit and an excellent quality of life in the ultimate live-work-play environment. By offering our space-as-a-service approach to the workforce of Decatur and those looking to do business there, WeWork is able to provide companies of all size with the flexible space, community and resources to help them grow and scale their business.”
The announcement comes as Decatur, long known as one of metro Atlanta’s premier cities in terms of housing, schools and entertainment, looks to enhance its image as a place for companies to come and grow. The city and DDA recently launched an economic development campaign to promote Decatur as an employment center of choice for businesses seeking office space, hiring branding agency Son and Sons and public relations firm The Wilbert Group to assist in that effort.
With over 1.8 million square feet of office space, Decatur touts its competitive advantages as a walkable, transit-friendly community with a distinct local flair and access to a highly educated workforce. Decatur is looking to recruit a new generation of businesses that is drawn to Decatur’s ethos and complements the city’s purpose-inspired doers, makers and disrupters.
“We have the luxury of building and launching this campaign when the Decatur market is strong and the economy is growing,” Chris Sciarrone, Decatur DDA Chair. “Decatur has so much to offer companies seeking office space, with abundant commercial office space, a vibrant business district with over 100 retail and restaurant businesses, 600 downtown condominiums, and over 600 recently completed residential rental units all within walking distance of the Decatur MARTA station.”
The campaign comes with a new DDA logo that builds on the genuine personality and familiarity of the city’s long-time logo – a home, school and house of worship in primary colors. New messaging, which will be seen soon on ads, banners and in other public spaces, reinforces why Decatur is ideally suited for businesses seeking new office space and includes “A Great Place to Grow Your Business,” “Business is Greater in Decatur” and “Let’s Get Down to Business.”
About the City of Decatur
The City of Decatur, located just east of Atlanta and home to 23,000 people, is characterized by world class big-city business assets, progressive attitudes, highly educated people, an accessible government and superb quality of life for those who live and/or work here. The city was recently listed as the 2018 Best Neighborhood in Atlanta by Creative Loafing. Decatur already is home to Emory Health Care, Agnes Scott College, Columbia Seminary, the Task Force for Global Health and a vibrant mix of small, local professional firms. Because Decatur is surrounded by exceptional and well-regarded academic institutions, it benefits from a pipeline of talent; 82,000 students are within a 20-minute drive of downtown Decatur.
About the Decatur Downtown Development Authority
The Decatur Downtown Development Authority (DDA) was founded in 1982 to implement the Decatur Town Center Plan and to provide day-to-day management of the downtown development program. Since that time, our role has expanded to include responsibility for all of Decatur's commercial districts. The Downtown Development Authority works with the traditional, downtown business district and the Development Authority has jurisdiction over the neighborhood districts. Both Authorities share a board and staff and exist to provide assistance to prospective business owners and developers interested in investing in Decatur's economic development plans. These programs are housed within the City's Community & Economic Development Department.
About WeWork
Founded by Adam and Rebekah Neumann and Miguel McKelvey in 2010, The We Company comprises three distinct business lines: WeWork, WeLive, and WeGrow. WeWork is a global platform with more than 500,000 members and provides innovative workplace solutions for any type of member organization, regardless of company size, maturity, or space needs. WeWork’s mission is to create a world where people work to make a life, not just a living. WeWork currently has 485 locations in 105 cities across 28 countries, and its members include over one-third of the Global Fortune 500. For additional information, please visit www.we.co.
About Cousins Properties
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments. For more information, please visit www.cousins.com.
