Atlanta Hawks Signs 54 KSF Lease Expansion

The NBA franchise is a longtime tenant of the office tower in downtown Atlanta.
101 Marietta St. Image by Thomson200 via WikiMedia Commons

NBA franchise the Atlanta Hawks has signed up for a three-floor, 53,865-square-foot lease expansion at 101 Marietta St., a premium office tower in downtown Atlanta owned by The Dilweg Cos. The long-time tenant’s addition of three floors will allow the team to consolidate all of its front-office operations two blocks away from its home venue, State Farm Arena.

The landmark, 36-floor building is currently 82 percent leased to WeWork, Associated Press, CH Robinson and other tenants in industries ranging from entertainment and media to education and professional services. Durham, N.C.-based real estate investment firm Dilweg Cos. has executed more than 171,000 square feet of new and expanded leases at the 652,092-square-foot property over the last 12 months.

The Hawks are growing their footprint after a recent hiring expansion that included adding the club’s NBA G League affiliate, the College Park Skyhawks. The team will renovate each of its three floors starting this month to deliver improvements that will include a new employee lounge and break room with a full-service kitchen and TV screens and updated offices for the Hawks sales team featuring open-floor layouts and sales and training spaces.

Tower gets a revamp

The property at 101 Marietta St., formerly known as Centennial Tower, was built in 1970. Dilweg Cos. acquired the asset in 2015 and in August 2017 completed a $5 million capital improvement program that brought a cutting-edge lobby, restaurant-style booths and collaborative workspaces to the rebranded tower. Regional coffee roaster Revelator Coffee opened its newest Atlanta location in the lobby last fall.

In March 2018, Dilweg acquired Pershing Point Plaza, a seven-story, Class A office building at 1375 Peachtree St. NE in Midtown Atlanta from CBRE Global Investors. The new owner plans to spend more than $10 million on an extensive renovation program.