Renovated ATL Office Building Lands New Leases
- Apr 27, 2017
New York-based Columbia Property Trust recently announced that, over the past six months, leasing activity has been intense at its One Glenlake building located in Atlanta’s Central Perimeter submarket.
The 351,000-square-foot property recently went through a $3 million complex renovation project. As a direct result, five new tenants signed leases for more than 92,000 square feet of space here since November 2016, bringing the building’s occupancy to 94 percent. According to Yardi Matrix, rents at One Glenlake range between $31 to $33 per square foot annually.
Located just off Highway 400, adjacent to Newell Brands Inc. and Mercedes Benz’s new U.S. headquarters, One Glenlake was developed by Pope & Land for Granite Properties and completed in the spring of 2003. Columbia Property Trust acquired the 14-story building for $80 million in June 2004.
In 2015, the company teamed up with design firm Indigo Collective and architecture and design firm Gensler to reposition the building and mobilize the ground level floor for tenant use and create spaces where employees can work outside their traditional offices. The renovation and modernization process resulted in an enhanced lobby that features a communal table, floor-to-ceiling windows to maximize daylight, mid-century modern furniture and locally curated art work.
Following the current renovations, the One Glenlake amenities include a café and a conference center with catering kitchen, a daycare center, ATM, carwash and dry-cleaning services, and a fitness center. The building also includes 1,158 covered parking spaces in a multi-level structure.
“Our repositioning of One Glenlake has raised the bar in the Central Perimeter area,” said Nelson Mills, president and CEO at Columbia Property Trust, in prepared remarks. “Working with Indigo Collective and Gensler, we’ve been able to create an innovative, best-in-market experience that has accelerated momentum and enabled us to reach our leasing goals for this building within only a few months of the project’s completion,” he added.