Piedmont Signs 172 KSF Atlanta Office Lease

The tenant will spend more than $12 million to renovate and furnish the space.
Glenridge Highlands Two. Image via Google Street View

Piedmont Office Realty Trust has inked a new lease at Glenridge Highlands Two, a 424,000-square-foot office property in Sandy Springs, Ga. Deluxe signed a contract for 172,000 square feet in the building. The company will bring 700 jobs to Atlanta and will invest more than $12 million to remodel and furnish the space it will occupy.

Located on 5 acres at 5565 Glenridge Connector NE, the 20-story high-rise was completed in 2000. The Class A tower has 25,000-square-foot flexible floor plates, 8 passenger elevators, a fitness center and an on-site café. The property is also home to Morgan Stanley, CNA, Engle Martin & Associates and First Data Corp. Situated close to Interstate 285 and State Route 400, the property is 13 miles north of downtown Atlanta and 21 miles from the city’s international airport.

The building is part of a Piedmont-owned, 12-acre office park which includes Glenridge Highlands One, an 11-story, 288,000-square-foot building where the company is finalizing a capital improvement plan. The third phase of the office complex will see the addition of a 250,000-square-foot building, which the company is calling Glenridge Highlands Three.

In May, Piedmont announced that Independence Blue Cross will pay $360 million for the 45-story, 801,000-square-foot tower which houses its headquarters in Philadelphia. CBRE assisted the seller in the negotiation.