Best Economic Revitalization of a Neglected Building

ATLANTA—In our pre-event coverage of GlobeSt.coms ADAPT awards, we took a closer look at adaptive reuse projects across the country. The winner of the best economic revitalization of a neglected building goes to Interface HQ in Atlanta. We will be honoring the project at our awards ceremony in Baltimore on September 16^th.

In 2015, Interface began exploring the possibility of consolidating its Atlanta offices and showroom because its leases were coming due in 2018. Originally, the company was seeking a 70,000-square-foot building for its 160 corporate employees but instead, it decided to work with a developer and buy 1280 W. Peachtree St., a 40,000-square-foot building that had been built in the 1950s.

The neglected office building was an eyesore. It was a poorly lit class-D office building, and had low ceilings that created a stuffy, uninviting office environment. The Interface team saw an opportunity—the building was extremely well-located at a busy corner of booming Midtown Atlanta—to reduce the company’s carbon footprint and serve as a catalyst for revitalization. Access to MARTA was a key driver in Interface’s site selection; the building, directly across from the Arts Center Station, would provide Interface’s workforce with a sustainable and rapid means of commuting to work.

➤➤ Join your colleagues at the GlobeSt.com ADAPT: Opportunity Zones awards September 16th in Baltimore, MD, where we put a spotlight on the achievements of those who have had a hand in locating adaptive reuse solutions across the country. At the same time it is also focusing on Opportunity Zones and the potential they offer – for both adaptive reuse and new construction. Click here to register and view the agenda.

Parkside Partners, which held the building since 2015, and specializes in repurposing functionally obsolete buildings as boutique, class-A offices, had been looking at the property as an adaptive reuse opportunity for some time. Parkside originally envisioned the property as a single- or multi-tenant office building that could be reconfigured as industrial loft space with new building systems and a new rooftop amenity. However, Interface came into the picture in 2016 and the new redevelopment plan was set into motion.

Interior design began in fall 2016 and continued to evolve until November 2017. Construction of the base building kicked off in August 2017 and continued through April 2018. Interior construction took place from February 2018 through August 2018. The building was sold to Stockbridge Capital Group for $24 million by Parkside Partners in September 2018—the highest per foot in the Midtown market at the time thanks in part to the building’s focus on sustainability.

The building, one of the first in the Southeast on track to receive LEED v4 Platinum certification, effectively uses 48% less energy than code requires and houses a 15,000-gallon water collection system for flush fixtures. In an effort to minimize waste, design and construction teams recycled and donated building materials, with total waste diversion at 93%. The building also uses 78% less water than the typical office building. On its exterior, the headquarters features a forest-inspired building wrap that provides natural light and reduces heat. The development team is also applying for WELL Gold certification, another ‘first’ for the region.

Today, the project is 100% completed and operational, with the headquarters officially opening to Interface employees in December 2018.