ATLANTA—Towers at Wildwood Plaza doing its fair share to drive up office occupancy rates in Atlanta. Ownership inked more than 120,000 square feet of office space in 2016 and appears to be set for a strong 2017.
Thomas Horstemeyer, a boutique intellectual property law practice, is the most recent new tenant at The Towers at Wildwood, a class A office building in Atlanta's Northwest submarket. The firm signed a full floor lease for 24,569 square feet.
CBRE's Jay Dowlen and Leigh Martin represented the landlord. But what's driving the building's office leasing success?
“The building offers 360 degree views of Atlanta's entire skyline from its class A, corporate office space, while also overlooking the Chattahoochee National Forest,” Eric Ross of CBRE tells GlobeSt.com. “The combination is not something most buildings can offer.”
Towers at Wildwood is both attracting and retaining tenants. In November, Environmental Resources Management signed a 14,186-square-foot lease renewal. And new tenant Messe Frankfurt secured a 14,276-square-foot lease.
CBRE's Sabrina Gibson, Clark Gore and Ross have represented America's Capital Partners, the building's owners, for the last year. In that time, the team has completed leases for the likes of including IBM, The Kellen Company, and General Electric.
“The attractive large block of space offers easy access to I-75 and I-285, a short commute to residential areas such as Cobb County and Alpharetta, and entertainment such as Suntrust Park,” Ross says. “These attributes, within reach of an unmatched class A office, led to the leasing streak in 2016.”
Ross also noted that the Towers provide a modern feel and aggressive economics. As he sees it, this combination has made The Towers at Wildwood a top of market building performer in the Northwest market
CBRE Research's third quarter 2016 statistics show that the Northwest submarket is Atlanta's tightest, with a vacancy of 7.9%. Atlanta's average vacancy rate for the same timeframe is 16.8%.
The future looks bright. After completing approximately 1 million square feet of office space in 2015, builders were on track to deliver 954,000 square feet of space in 2016. The majority of development will be located within the Buckhead, Midtown and Northwest Atlanta submarkets.
ATLANTA—Towers at Wildwood Plaza doing its fair share to drive up office occupancy rates in Atlanta. Ownership inked more than 120,000 square feet of office space in 2016 and appears to be set for a strong 2017.
CBRE's Jay Dowlen and Leigh Martin represented the landlord. But what's driving the building's office leasing success?
“The building offers 360 degree views of Atlanta's entire skyline from its class A, corporate office space, while also overlooking the Chattahoochee National Forest,” Eric Ross of CBRE tells GlobeSt.com. “The combination is not something most buildings can offer.”
Towers at Wildwood is both attracting and retaining tenants. In November, Environmental Resources Management signed a 14,186-square-foot lease renewal. And new tenant Messe Frankfurt secured a 14,276-square-foot lease.
CBRE's Sabrina Gibson, Clark Gore and Ross have represented America's Capital Partners, the building's owners, for the last year. In that time, the team has completed leases for the likes of including IBM, The Kellen Company, and
“The attractive large block of space offers easy access to I-75 and I-285, a short commute to residential areas such as Cobb County and Alpharetta, and entertainment such as Suntrust Park,” Ross says. “These attributes, within reach of an unmatched class A office, led to the leasing streak in 2016.”
Ross also noted that the Towers provide a modern feel and aggressive economics. As he sees it, this combination has made The Towers at Wildwood a top of market building performer in the Northwest market
CBRE Research's third quarter 2016 statistics show that the Northwest submarket is Atlanta's tightest, with a vacancy of 7.9%. Atlanta's average vacancy rate for the same timeframe is 16.8%.
The future looks bright. After completing approximately 1 million square feet of office space in 2015, builders were on track to deliver 954,000 square feet of space in 2016. The majority of development will be located within the Buckhead, Midtown and Northwest Atlanta submarkets.
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.