Business

Atlanta’s Real Estate Sector Abuzz Over Office Prospect

Atlanta’s commercial real estate business is buzzing over the prospect of a 500,000 to 600,000 square-foot office project — and the mystery company behind it.
Atlanta’s commercial real estate business is buzzing over the prospect of a 500,000 to 600,000 square-foot office project — and the mystery company behind it.
Credit COURTESY OF ATLANTA BUSINESS CHRONICLE
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Atlanta’s commercial real estate business is buzzing over the prospect of a 500,000 to 600,000 square-foot office project — and the mystery company behind it.

According to this week’s Atlanta Business Chronicle, the intrigue is centered among Atlanta real estate developers that have sites to accommodate that much office space and state economic development officials secretly pursuing a company that could bring thousands of high-paying jobs.

For much of the summer, chatter about the project has ebbed and flowed. In the past week, the murmur has been growing among developers, architects, contractors and brokers.

Likely suitors for any big office project considering Atlanta include developer Seven Oaks Company LLC, which is expanding the Perimeter Summit project in Brookhaven. Cousins Properties Inc. has Abernathy 400, at Georgia 400 and Abernathy Road, which was a contender for the U.S. headquarters of Mercedes-Benz USA.

In Midtown, Selig Enterprises Inc. has 1105 West Peachtree Street, where it would develop more than 600,000 square feet of office space. Hines and Invesco Real Estate have a site at Atlantic Station where they would develop the 500,000-square-foot Atlantic Yards.

As is usually the case, landlords, tenants and their brokers involved in discussions are bound by confidentiality agreements. Georgia Department of Economic Development declined to comment on active projects.

Douglas Sams covers commercial real estate for the Atlanta Business Chronicle.