Transwestern Plans Trophy Office Tower for Atlanta
- Jun 01, 2016
Atlanta—Atlanta’s Central Perimeter submarket is hungry for Class A office space and Transwestern Development Co. plans to help feed it with the $130 million development of Nexus, a 354,500-square-foot trophy office building.
Nexus will sprout up on a prime spot near the intersection of Hammond Drive and Perimeter Center Parkway, surrounded by all things transit in an area that’s also high on the walkability meter. Such locations aren’t easily obtained, but Transwestern pulled it off.
“We had been in search of a site for a few years and it was through a combination of timing and relationships all intersecting in our favor that we were able to secure this premier site,” Bo Jackson, senior managing director with Transwestern, told Commercial Property Executive. “Land sites with the walkable characteristics we required in this area are the most difficult to come by.”
Architectural firm Cooper Carry is behind the design of the office tower, which will be high on amenities, efficiency and sustainability. Those on foot and behind the wheel will be well accommodated, as Nexus will offer a direct connection to the Marta Station and one of the property’s parking facilities via a covered pedestrian skybridge.
Transwestern’s plan is to deliver a “next generation workplace” in a submarket that, along with Buckhead, boasts the lowest Class A vacancy rates, as well as rental rates that have reached record highs quarter after quarter for quite some time, according to a first quarter report by Transwestern’s real estate services division.
“Central Perimeter remains a first choice work place for a diverse mix of industries driven by its long-term, attractive central location providing access for the metro-wide Atlanta workforce either by auto or by rail,” said Jackson. “The urbanization with attractive residential additions and the continuously improving retail and restaurant selection make Central Perimeter a natural choice for forward thinking business decision makers.”
Transwestern plans to break ground on Nexus in the first quarter of 2017, and wrap up construction in the fourth quarter of 2018. “We look forward to designing, developing and delivering a new workplace the marketplace will embrace,” Jackson added.