Bridge Signs Renewal, Expansion at Atlanta Office Park
- Jan 16, 2020
MarketSource has signed for a 104,763-square-foot lease renewal and a 16,317-square-foot expansion at Royal Centre Four, a 312,112-square-foot office building within the Royal 400 Business Park in Alpharetta, Ga. The marketing and sales solution provider will occupy 121,080 square feet at the Class A property owned by Bridge Investment Group. Jim Caswell, Russell Hofstetter and Nathan Williams negotiated the deal on behalf of the landlord. According to Yardi Matrix data, Bridge acquired Royal 400 for $107 million in 2018 from The Dilweg Cos.
Situated at 11700 Great Oaks Way on more than 17 acres, Royal Centre Four was completed in 2000 and renovated in 2019. The six-story building features 51,350-square-foot floor plates and a parking ratio of 5 spaces per 1,000 square feet. Amenities include a fitness club, café and a new 7,000-square-foot tenant lounge featuring tech-ready conference and training facilities. General Motors, Infinity Insurance and Ultimate Software are some of the companies on the tenant roster.
The ownership has invested more than $6 million in capital improvements at the three-building, 625,000-square-foot office campus since the acquisition. Property upgrades and additions include new tenant lounges and conference spaces with adjoining patios and outdoor seating, as well as flexible-term spec suites.
The office park is 3 miles southeast of the city center near Georgia State Routes 400 and 120. The mixed-use Avalon project is some 2 miles northwest, while North Point Mall is 2.4 miles southwest. The property is also adjacent to NorthWinds Office Park, where a software company occupied nearly 130,000 square feet as of November.