Microsoft Leases Up Two-Building Office Development Atlantic Yards
The company will create 1,500 new jobs at the Hines and Invesco Real Estate development, within the Midtown Atlanta market.
ATLANTA, GA – Hines and Invesco Real Estate announce that Microsoft Corporation is set to occupy the entirety of the two-building, office development, Atlantic Yards, in Atlanta, GA.
The Fortune 25 company will create 1,500 new high-tech jobs in the West Midtown neighborhood.
The construction of Atlantic Yards recently topped out and the development is expected to deliver later this year. Microsoft plans to occupy the 523,000 square feet of space in summer 2021.
Hines and Invesco Real Estate partnered together to design the differentiated office environment and client-facing workplace, as an industrial-inspired, creative office within the Atlantic Station and Midtown Atlanta submarket.
The joint-venture partners will work Microsoft to customize an office presence in the area. Microsoft plans to additionally personalize the buildings’ ground-level spaces as an opportunity to directly engage with customers.
The property, located blocks away from Georgia Tech, will offer tenant amenities including a courtyard, rooftop gardens, private balconies and open-air terraces.
To secure the deal, the real estate partnership worked alongside the Georgia Department of Economic Development, Metro Atlanta Chamber, Invest Atlanta, Fulton County Development Authority and Georgia Power.
PCCP LLC served as the construction lender for the project.
Through the new development, the joint-venture partners plan to revive the underappreciated, West Midtown office market.
Within the past year, Hines has leased nearly 673,000 square feet in the submarket, including this lease. The firm recently announce leases at its adjacent office building, T3 West Midtown, with Facebook, Macy’s Tech and Interior Architects. The two office developments are part of the larger transformation of Atlantic Station, currently underway.
The redevelopment of Atlantic Station aims to reintroduce the area to the marketplace with its soon-to-open retail and restaurant offerings, new tenant mix, hospitality options and new multifamily units.
The privately-owned, international real estate investment firm, Hines currently holds a presence in 205 cities across 24 countries. Founded in 1957, Hines has $133.3 billion in assets under management and 165 developments currently underway.
Global real estate investment manager, Invesco Real Estate holds $84.7 billion in assets under management. The firm employs 550 professionals across 21 regional offices throughout the US, Europe and Asia.
