Law Firm Inks 102 KSF Lease in Atlanta
- Jan 02, 2019
Global law firm Smith, Gambrell, & Russell has signed a 102,320-square-foot lease at 1105 West Peachtree, a new mixed-use building in Atlanta’s Midtown submarket, with the building’s owner, Selig.
Cushman & Wakefield facilitated the lease transaction with the firm’s Shea Meddin, Andrew Ghertner, Carla Williams and John Izard representing the tenant in the negotiations. Selig’s Chris Ahrenkiel and Steve Baile handled things on its end.
Once completed, Smith, Gambrell, & Russell will take floors nine through 12. The firm will have access to rooftop green space that includes a bar, restaurant and pool, located on the ninth floor directly outside of its premises, which is part of the Marriott Autograph Collection hotel.
“1105 West Peachtree is a new construction, mixed use project, located in the heart of Midtown with efficient floorplates and abundant amenities, and allows SGR to build out its brand-new office space of the future in a very efficient manner,” Meddin, Cushman & Wakefield’s senior director, told Commercial Property Executive. “The Sky Plaza was a big appeal as well.”
Cushman & Wakefield originally relocated Smith, Gambrell, & Russell to its current space at Promenade in 1991.
“When they hired us again and decided to potentially relocate, we knew it had to be somewhere special,” Meddin said. “SGR was focused on staying in the Midtown submarket due to the firm’s history and Midtown’s walkability, amenities, nearby restaurants and access to public transportation.”
At approximately 3.6 acres, the mixed-use building spans an entire city block and features a 660,000-square-foot office tower, a 178-key full-service Marriott Autograph Collection hotel and 64 luxury residential units.
The Rise of Midtown
Midtown Atlanta is currently seeing the highest construction activity in the metro area, and Selig is situated right in the middle of the action.
Over the last 10 years, Selig has developed nearly $1.5 billion in Midtown, including 1065 and 1075 Peachtree, PWC’s southeast regional headquarters and the Loews Atlanta Hotel.
“The Midtown market has low vacancy with very few large blocks of space available,” Meddin said. “During this phase in the cycle, options are limited. 1105 W Peachtree met all of SGR’s requirements.”
Construction is scheduled to begin early this month.