SAP Leases Space at New Atlanta Office Building
- Aug 21, 2017
SAP will soon open its second location in metro Atlanta after signing a 43,800-square-foot lease at 800 Avalon, a new office building in Alpharetta, Ga. The agreement spans 10 years and will allow the software development company to consolidate its employees based in two other offices located in the same neighborhood. SAP will join other well-known tenants including Microsoft and co-working company Spaces.
“Cousins and Hines are thrilled with the amount of activity and interest we see for Class A office space in this niche market in Atlanta,” said Thad Ellis, Cousins Properties senior vice president and Atlanta managing director, in prepared remarks. “Being part of 8000 Avalon puts SAP, as well as all of our customers and their employees and guests, at the center of a vibrant mixed-use district.”
Senior Vice President Gregg Metcalf, Managing Director Tim McCarthy and Vice President Ryan Fetz of JLL represented the tenant in the lease transaction.
800 Avalon: A $73 million project
SAP’s new office is part of a new mixed-use development in the North Fulton submarket which Hines and Cousins Property completed in June 2017. In addition to the 224,000 square feet of office space, the project also offers residential options and 580,000 square feet of retail space.
The new lease boosts 800 Avalon’s occupancy to 93 percent. The only remaining pad available might soon be purchased by the developers themselves.
Image courtesy of Cousins Properties