Lionstone Investments Inks Lease Expansion at Atlanta Tower
- Nov 20, 2019
Square Inc. has expanded its lease by 26,000 square feet at BB&T Tower, a Class A office building in Midtown Atlanta. The technology company will occupy a total of 55,000 square feet at the property. Lionstone Investment acquired the trophy asset in 2017 from CBRE Global Investors for $182 million.
Located at 271 17th St. NW, the 25-story tower is the tallest office building in the Atlantic Station neighborhood. Completed in 2009, BB&T Tower features 21,672-square-foot floorplans and a parking ratio of two spaces per 1,000 square feet. The 541,870-square-foot asset includes amenities such as a conference center, concierge services and branch banking.
The LEED Gold-certified building, anchored by BB&T, is currently 91.5 percent leased, Yardi Matrix data shows. The tenant roster also includes Amazon, Sage Software and Womble Carlyle. The tower is across the road from The District’s shopping, dining and entertainment options and is also close to Colony Square, a mixed-use office and retail project developed by Lionstone in a partnership with North American Properties. The development received $278 million in financing last November.
The JLL team of Managing Director Travis James and Vice President Brooke Gothard facilitated the transaction on behalf of the tenant. Cushman & Wakefield Director Laura Power and Senior Director John Zintak represented the landlord.