The Towers at Wildwood, a class A office building, has reached 90% occupancy.
ATLANTA—How hot is the office market in Northwest Atlanta?
Northwest Atlanta posted 85,913 square feet of net absorption gains during the quarter, pushing year-to-date totals up to 126,168 square feet. Central Perimeter rebounded with 35,202 square feet of direct office space absorbed during the quarter. Northeast Atlanta posted 78,658 square feet of quarterly losses, with the largest vacancy due to LSI Corp. giving up 57K SF at The Offices @ Gwinnett Commons.
Some buildings are near full. One of them is The Towers at Wildwood. The class A office building has reached 90% occupancy.
CBRE's Sabrina Gibson, Clark Gore and Eric Ross represented America's Capital Partners, the building's owners, since early 2016. In that time, the team has brought the building from 66% to 90% occupied, through a combination of new tenants and existing tenants that have renewed their leases.
“This asset is 720,000 square feet and is the largest building in the submarket,” Gibson, CBRE senior associate, tells GlobeSt.com. “Hitting 90% occupancy is a milestone, and we continue to experience great activity in Atlanta's suburban markets. Tenants are looking for buildings that are of the same quality as what they experience intown, and are easily accessible from prime residential areas. Bringing this asset to stabilization with this caliber of new tenants is a win in Atlanta.”
The latest tenants to come on board at the Towers at Wildwood are HITT Contracting and Primrose, which leased 25,000 and 35,000 square feet, respectively. HITT Contracting is vacating its former space in Midtown and was specifically looking to be in the Northwest. Primrose is vacating space in Acworth to be closer to the city's core and the corresponding labor pool.
The Towers offer a fitness center, a bike share program with access to the Chattahoochee National Forest, easy access to Interstate 75 and Interstate 285. The office building is also close to entertainment such as Suntrust Park, 360 degree views and attractive architecture.
(Rubenstein is getting serious about Atlanta office space. Get all the details.)
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