Atlanta Tower Lands High-Profile Tenant
- May 23, 2016
Atlanta—The Metro Atlanta Chamber will be giving up its long-time home in downtown Atlanta to move about half a mile to Cousins Properties’ 191 Peachtree Tower, the Chamber announced late last week. The 50-story, 1.2 million-square-foot Class A office tower, sited between Andrew Young International Boulevard and Ellis Street, is now 92 percent leased, up from 89 percent at the end of the first quarter, according to Cousins Properties.
The move is being driven by the Georgia World Congress Center Authority’s purchase in March of the MAC’s current location at 235 Andrew Young International Blvd. NW., at the southwest corner of Centennial Olympic Park. The Authority plans to expand the 21-acre park.
Neither the Atlanta Chamber nor Cousins Properties replied to Commercial Property Executive’s requests for additional information.
The one-level space on the 34th floor reportedly “will incorporate design elements reflective of Atlanta’s founding as well as its modern-day status as a hub for transportation and making connections,” according to a prepared statement from the Chamber. The organization’s new office will include spaces designed for meetings and other functions, given that in an average week the Chamber hosts about 500 guests from the Atlanta business community, as well as national and international delegations.
The MAC will be moving its 75 employees into the new 25,000-square-foot space late this year.
On the same day as the Chamber’s announcement, Cousins announced that it had signed two new leases totaling 50,940 square feet at 191 Peachtree Tower. The identity of the second tenant was not released.
These advances at 191 Peachtree Tower come shortly after the major announcement that Cousins and Parkway Properties would merge in a stock-for-stock deal and spin off their Houston assets into a separate REIT with a 41-property, 15.8 million-square-foot portfolio.