ATLANTA—PMRG just won a huge office leasing assignment in Midtown Atlanta. Office REIT Franklin Street Properties picked PMRG to handle leasing at Pershing Park Plaza, a nine-story, 160,000-square-foot, class A office building located at 1420 Peachtree Street Northeast.
A wholly-owned subsidiary of FSP acquired the trophy office asset in August 2016 for about $45.5 million. PMRG's Chip Roach and Stephen Clifton are handling leasing for the office asset.
“The Atlanta office market and Midtown more specifically has seen record absorption over the last 24 months,” says Roach, executive vice president and Atlanta market leader at PMRG, tells GlobeSt.com. “Large blocks of available space are in very short supply in Midtown thanks in large part to the high tech companies and firms that support the tech industries relocating to Midtown.”
Located at the Gateway to Midtown Atlanta, Pershing Park Plaza offers office tenants easy access to both Interstate 75 and Interstate 85. The office building is only two blocks north of the Arts Center MARTA rail station, offering access and a high walkability factor.
Pershing Park Plaza is 97% leased to several high profile companies including international law firm, Jones Day. The office building is walking distance to Atlanta's arts district, restaurants, retail and thousands of new residential units which have been recently delivered or are currently under construction.
“These tenants want to live near their offices as well as the city's epicenter for culture and entertainment which is leading to record growth in the Midtown residential base,” Roach says. “These factors combined with the area having the best street infrastructure and transit access in Atlanta should make Midtown a very dynamic and sustainable office market for a long time.”
ATLANTA—PMRG just won a huge office leasing assignment in Midtown Atlanta. Office REIT Franklin Street Properties picked PMRG to handle leasing at Pershing Park Plaza, a nine-story, 160,000-square-foot, class A office building located at 1420 Peachtree Street Northeast.
A wholly-owned subsidiary of FSP acquired the trophy office asset in August 2016 for about $45.5 million. PMRG's Chip Roach and Stephen Clifton are handling leasing for the office asset.
“The Atlanta office market and Midtown more specifically has seen record absorption over the last 24 months,” says Roach, executive vice president and Atlanta market leader at PMRG, tells GlobeSt.com. “Large blocks of available space are in very short supply in Midtown thanks in large part to the high tech companies and firms that support the tech industries relocating to Midtown.”
Located at the Gateway to Midtown Atlanta, Pershing Park Plaza offers office tenants easy access to both Interstate 75 and Interstate 85. The office building is only two blocks north of the Arts Center MARTA rail station, offering access and a high walkability factor.
Pershing Park Plaza is 97% leased to several high profile companies including international law firm,
“These tenants want to live near their offices as well as the city's epicenter for culture and entertainment which is leading to record growth in the Midtown residential base,” Roach says. “These factors combined with the area having the best street infrastructure and transit access in Atlanta should make Midtown a very dynamic and sustainable office market for a long time.”
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