Dilweg Repositioning Atlanta Midtown Office
“1375 Peachtree is a truly unique property and we’re very excited to transform it into an office asset with modern, state-of-the-art amenities," says Jerry Banks, managing director for the Atlanta region at Dilweg.
ATLANTA, GA—The Dilweg Companies is repositioning the 409,579-square-foot, eight-story office asset at 1375 Peachtree Street Northeast in the heart of Atlanta’s Midtown.
Formerly known as Pershing Point, Dilweg renamed the property 1375 Peachtree and is undertaking a $10 million renovation plan. ASD|SKY is leading the redesign of the building.
“1375 Peachtree is a fantastic asset in the heart of Midtown,” says Drew Cunningham, COO of The Dilweg Companies. “We are excited to announce our plans to transform this building into a highly desirable and contemporary office building.”
CBRE’s agency leasing team of Chris Port and Nicole Goldsmith is heading leasing efforts at the property.
“The repositioning of 1375 Peachtree is very exciting as it will include many new amenities to attract tenants in the tech and creative industries,” says Port, senior vice president at CBRE. “Some of the new features include a shared rooftop space facing Peachtree Street, additional retail in the lobby, and a new conference facility and tenant lounge. These upgrades combined with the property’s prime location, within walking distance to the Arts Center MARTA Station, will transform this asset from a traditional office tower to a premier creative office hub.”
Other new amenities include indoor bike storage, lockers, and showers for tenants. Retail offerings include Anytime Fitness, HUGE Coffee Shop, Jimmy Johns, and Trading Post Sundry Shop. The building is currently anchored by long-term tenants Kaiser Permanente Healthcare’s IT division (156,000 square feet) and global advertising firm HUGE (31,000 square feet) and is balanced by ten others, largely TAMI (Technology, Advertising, Media and Information Systems) tenants.
“From the thoughtful integration of a linear park along Peachtree to the state-of-the-art conferencing facilities that open up to a park in the sky, our design activates the public realm, provides increased engagement between tenants, and supports today’s ever-changing workspaces.” says Adam Toal, project architect at ASD|SKY. “A sculptural addition to the building entry includes a metal screen element that allows the activity from within the building to engage with the street while simultaneously providing a more intimate gathering space between the lobby and the public realm.”
Built in the 1960s, the property has continually evolved with the submarket and has long been a space sought after by technology innovators – once the headquarters for MindSpring and Earthlink.
“1375 Peachtree is a truly unique property and we’re very excited to transform it into an office asset with modern, state-of-the-art amenities, balancing today’s requirements for highly efficient and experience-centric workplace environments designed to quickly adapt to future needs,” says Jerry Banks, managing director for the Atlanta region at Dilweg.
Atlanta placed fifth in CBRE’s Scoring Tech Talent report, which ranks 50 US and Canadian markets according to their ability to attract and grow tech talent. Georgia Tech, which is located less than one mile from Pershing Point, is an essential catalyst for tech clustering in Atlanta and gives companies access to a constant flow of new talent. Midtown finished 2017 edging out Buckhead with the city’s strongest office fundamentals – lowest direct vacancy rate and highest average rental rates.