C&W Closes 39 KSF Downtown Atlanta Lease
- May 03, 2017
Cushman & Wakefield has secured a new tenant at Marquis I, a 504,000-square-foot office tower in Downtown Atlanta. The State Road & Tollway Authority (SRTA) has signed a 38,794-square-foot lease to consolidate its two locations and expand its office and retail operations. The lease includes 36,400 square feet of office and 2,394 square feet of retail space.
Senior Director April Parrish, of Cushman’s Office Tenant Representation Group, worked on behalf of the tenant, with the assistance of Kirk Diamond, executive managing director, Erin Smith, director, and Steven Taylor, transaction manager. JLL represented the landlord, Banyan Street Capital, with the help of Senior Vice President Kay Younglove, Vice President Mike Werner and Leasing Associate David Horne.
“After surveying the market for viable alternative locations to accommodate GRTA and SRTA’s consolidation and expansion, Peachtree Center was the best fit,” said Parrish in prepared remarks. “The property offered a needed retail presence in addition to office space, as well as countless amenities for employees and customers,” she added.
The new office will provide space for The Georgia Regional Transportation Authority (GRTA) as well, since it is merging with SRTA in the new collaborative office.
“Peachtree Center is a good fit for the needs of our combined and growing offices,” said Chris Tomlinson, executive director of SRTA and GRTA, in a prepared statement. “The site also provides us the opportunity to open our first joint retail customer center in a convenient and attractive Downtown location for both Peach Pass and Xpress Commuter Coach customers,” he noted.
Marquis I is located at 245 Peachtree Center Ave. and was constructed in 1985. According to Yardi Matrix data, the property is subject to an 11-year unsubordinated ground lease held by the Development Authority of Fulton County, set to expire in December 2018.
Image courtesy of Peachtree Center via Facebook