X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Locally based architecture and interior design firm Perkins+Will has purchased 45,000 square feet of office space at 1315 Peachtree St. NE, one block south of its current offices in Midtown. The firm paid roughly $6.8 million, or $150 per square foot, for the space and will likely invest a greater amount in renovations.

At least 200 employees will occupy the new, larger space in the building’s top four floors next summer, consolidating two current offices across the street from each other where the firm has spent the past three decades. The company considered various long-term leasing options in the local market before deciding to buy the space formerly occupied by Invesco Ltd.

“It’s a building that suits our needs in a nice neighborhood, and it wasn’t available for lease,” Perkins+Will CEO Phil Harrison tells GlobeSt.com. He notes that the move underscores the firm’s strong position in the Southeast and will ultimately serve as a working environment for sustainable office design for its clients.

Perkins+Will, whose history dates back to 1935, will seek LEED Platinum certification for the new space under the US Green Building Council rating system for existing buildings. The six-story building includes a Fulton County Branch Library on its second floor, according to Atlanta-based Colliers Spectrum Cauble, the building’s broker.

Perkins says the purchase was made slightly complicated by the fact that 1315 Peachtree operates on a ground lease by the City of Atlanta. “It’s less expensive than if we had bought the dirt,” he says.

Green elements to be added to the new space include rainwater collection for landscape irrigation and restrooms, a reflective roof, underfloor air distribution and a more efficient lighting system. The firm is also considering natural gas co-generation to power the space.

“Creating a high-performance building and innovative workplace environment within an existing urban context will demonstrate the value of good design to our employees, business partners and clients<" says Willard Lariscy, managing director of Perkins+Will's Atlanta office. The interdisciplinary design firm has 21 offices around the globe.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.