Grubb Properties Inks 63 KSF Atlanta Office Lease
- Feb 22, 2018
Grubb Properties has signed a new long-term lease with specialty health-care system Veritas Collaborative to occupy four floors at one of its Park at Perimeter Center East office buildings, located in Atlanta’s Central Perimeter Market.
Veritas will lease 62,980 square feet of the total 94,734 square feet in Building 41, one of the three mid-rise buildings within the office park. Originally constructed in 1974, the asset features six stories, two passenger elevators and access to 379 parking spaces, according to Yardi Matrix. Grubb acquired and took over management of Park at Perimeter Center East back in 2015, marking its first Atlanta office investment. Since purchasing the complex, Grubb invested $4.4 million in capital improvements focused on energy efficiency and modernization to lower energy costs and provide building updates.
“We are delighted to bring Veritas Collaborative to the Park at Perimeter Center East,” said Joe Dye, executive vice president, Commercial, Grubb Properties, in prepared remarks. “The location and setting provide a perfect location for them. True to their name, the Veritas Collaborative team have been sincere partners and will bring a best-in-class operation to meet a much underserved need.”
Sue Back of Davis Moore and Chad Koenig of Cushman & Wakefield represented Veritas in the deal, while David Horne and Liz Koteles of JLL represented the landlord. Last week, both Cushman & Wakefield and JLL played a role in TH Real Estate signing a new lease and three renewals totaling 64,000 square feet at its 440,000-square-foot, Class A office complex in Princeton, N.J.
Image courtesy of Yardi Matrix