KDC to Develop 2 MSF Transit-Oriented Project in Metro Atlanta
- Feb 17, 2014
KDC is developing a 2.2 million-square-foot corporate office development on 17 acres in the Perimeter Center area of Dunwoody, Ga.
When finished, KDC’s transit-oriented development will include 2.2 million square feet of office space, 100,000 square feet of retail, restaurants and entertainment, and a 200-room select service hotel.
“It’s a transit-oriented development that will have a direct connection to the Dunwoody MARTA station, the rapid transit line in Atlanta,” Larry Wilson, KDC’s division president, told Commercial Property Executive. “It’s an extension of the type of development we’re seeing on the national level, where clients are attracted to a good quality of life in locations where people want to work and live.”
State Farm will lease 585,000 square feet of office space from KDC’s first office building, and plans to add additional buildings over the next decade. The building will be constructed on a nearly four-acre site at Hammond Drive and Perimeter Center Parkway.
“We are excited to be considering an expansion in the Dunwoody community as we position State Farm to better serve communities across the U.S.” Mary Crego, State Farm’s senior vice president said in a news release. “This expansion positions State Farm for the future as we grow to meet changing customer needs and expectations.”
The neighborhood is already highlighted by the Perimeter Mall and a plethora of established restaurants, retail and housing opportunities.
“What we are trying to create is a workplace of the future, which includes that live-work- play environment, with shopping, transportation and entertainment all within easy access,” Wilson said. “This is what State Farm was looking for and what is shaping up in the Atlanta market and submarket.”
According to Wilson, KDC plans to begin construction on the first building in the summer of 2014, to be completed by the fourth quarter 2016. The balance will be developed over the next eight-10 years.