"It has been my goal throughout the department's relocation process to provide our general office employees a more functional, easily accessible and modern workplace," says Georgia Transportation commissioner Harold Linnenkohl. "One Georgia Center is such a location." The department was represented by the Georgia Building Authority.
With the lease, Cousins Properties' One Georgia Center will be 100% occupied. At the end of the second quarter, the building was 43% occupied. Most of the space the department will occupy is vacant, but some of the space is filled with existing tenants that plan to relocate, a Cousins Properties Inc. spokesman tells GlobeSt.com. "This was one of the largest vacancies in our portfolio, so securing this lease was important," he says. "It's important for the building, but it's also gratifying to be able to meet the department's space needs."
The department will begin moving into the space by the end of the year. The move will be accomplished in phases. "This was a competitive and challenging deal," says Cousins' office/multifamily division president Larry Gellerstedt, in a prepared statement. "The GDOT lease will give the agency the modern efficient office space and also fill a significant vacancy in our Atlanta office portfolio."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.