ATLANTA—And the International TOBY (The Outstanding Building of the Year) award goes to—6525 The Corners in Peachtree Corners, GA. The Building Owners and Managers Association hands out the annual award.

6525 The Corners won in the “Under 100,000 Square Feet” category. CBRE manages the property. Glenfield Capital is the owner.

“Glenfield Capital took a stakeholder approach to Peachtree Corners when we invested into the community,” James Cate, managing principal of Glenfied. “The property improvements and capital investment resulted in a vastly improved office environment for companies.”

BOMA recognized 6525 The Corners following a major rebranding. The campaign included sustainability enhancements, a new fitness center and connectivity within technologically advanced gathering rooms, and modernization of common areas and individually leased office footprints. Glenfield Capital has invested in electric vehicle charging stations, LED lighting and healthy work areas both indoors and outside in parks.

The partnership between Glenfield Capital and CBRE extends past the physical building. Ownership, management and tenants have shown this commitment to the Peachtree Corners community through fundraisers, events with various philanthropies, and support of local schools and tutoring programs for high-risk students, among other noble causes.

It's a strategic time to win a TOBY, given the state of Atlanta's office market. During the second quarter of 2017, overall average office rents eclipsed last quarter's record of $23.51 per square foot. That translates to a new record of $24.10 per square foot, an increase of $0.59 per square foot. (Is this Atlanta's biggest office market challenge right now?)

What's more, overall office space net absorption rebounded in the second quarter from last quarter's negative absorption, with 405,038 square feet of positive net absorption. The Northwest office submarket experienced 210,124 square feet of positive net absorption, followed by Midtown with 153,167 square feet absorbed. (Is this a model for office space of the future?)

6525 The Corners won in the “Under 100,000 Square Feet” category. CBRE manages the property. Glenfield Capital is the owner.

Instant Insights /

Strategic Submarket Office Building Wins International TOBY

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