Trucking logistics firm Convoy leads latest leasing splash with multi-floor deal as demand for high-tech loft space stays healthy
Shorenstein Properties announced today several new tenant signings and lease expansions at Bank of America Plaza, a newly energized Class A office tower in Midtown Atlanta situated in the heart of the North Avenue Smart Corridor. The signings represent more than 80,000 of new occupancy at the building, and mark the latest chapter in a leasing boom that has attracted tech firms and other start-ups to the Southeast’s tallest skyscraper.
Convoy, a U.S.-based trucking software company that was recognized as GeekWire’s 2017 “Startup of the Year”, signed a multi-floor lease totaling over 49,000 square feet that will allow the fast-growing company to expand operations in its Atlanta hub. Convoy is committing to a long-term lease at Bank of America Plaza after first moving to the building in 2018.
Jeff Keppen and Nicole Goldsmith of CBRE represented Shorenstein in the transaction. Tim McCarthy and Jeff Heller from JLL represented Convoy.
All of the latest signings represent hundreds of additional jobs at the building. Other new tenants and lease expansions at Bank of America Plaza include:
- D.S. Smith – 13K RSF new lease
- Itineris – 8K RSF expanded lease
- Tin Roof Software – 8K RSF expanded lease
- Groundfloor – 4K RSF expanded lease
- Florence Healthcare – 4K RSF expanded lease
“Bank of America Plaza continues to emerge as a top choice for companies that are seeking a community-driven workplace experience which will bolster employee productivity and generate meaningful business results,” said Christopher Caltabiano, Senior Vice President of Asset Management at Shorenstein Properties. “This latest round of leasing activity reflects renewed interest in South Midtown as Atlanta’s next “must visit” destination thanks to a bevy of new mixed-use projects taking shape around the building that resonate with today’s workforce. We’re pleased to welcome this dynamic group of tenants to Bank of America Plaza, and look forward to supporting their growth in the years ahead.”
More than 150,000 square feet of leasing agreements have been signed at Bank of America Plaza over the last 12 months due to increased demand for next-generation workspace. Much of that activity being fueled by the dynamic tech ecosystem created by a spec suite program that Shorenstein incorporated throughout the tower to keep up with burgeoning market demand.
Shorenstein also recently completed a $10 million renovation to the building’s West Wing that delivered modern amenities, workspace and Marketplace 600, a 17,000-square-foot food hall. Other amenities include the 17,000-square-foot RPM Health Club & Spa, expansive conference facilities, and a Starbucks in the main lobby.
The crown jewel of Atlanta’s skyline, Bank of America Plaza is home to both fast-growing tech firms such as Featurespace, Flexport, Revel Systems, and Riskalyze, as well as established legal and professional services firms like Troutman Sanders and Bank of America.
About Shorenstein Properties LLC
Shorenstein is a privately owned real estate firm active nationally in the ownership and management of high-quality office and residential properties, with offices in San Francisco and New York. Shorenstein’s portfolio includes properties owned by the Shorenstein family through its affiliates Shorenstein Company LLC and Shorenstein Residential Equity Investors, as well as properties owned by a series of closed-end institutional funds sponsored by Shorenstein Properties LLC. These funds, with equity commitments totaling $7.9 billion, have invested in properties totaling 62.6 million square feet in transactions with a gross investment value in excess of $14.9 billion. Shorenstein Properties LLC is currently investing its eleventh fund, which has total equity commitments of $1.2 billion. Shorenstein uses its integrated investment and operating capabilities to take advantage of those opportunities which, at the particular time in the investment cycle, offer the most attractive risk-adjusted returns. Investments have included land entitlements, ground-up developments, asset repositionings and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. For more information, visit shorenstein.com.
