Companies calling Midtown their home has been a common theme in recent Atlanta headlines, and it looks like that trend isn’t stopping anytime soon. Midtown Atlanta has seen a rapid spike in development just in the past 3 months, accounting for over 57% of all Atlanta office development activity. At time of this publication, Midtown Atlanta has nearly doubled its amount of square feet (SF) under construction since Q1 2019, from 2.15 million SF to 4.12 million SF under development.
Notable company expansions and relocations include Cousins Properties’ 750,000 SF tower leased entirely by Norfolk Southern Corporation and health insurance company Anthem inked two major leases for two new buildings as the company consolidates to its new Midtown home. Construction on the new 31-story Midtown office tower, 1105 West Peachtree, has landed leases from Google and Atlanta law firm Smith, Gambrell & Russell.
However, not all Midtown office development is accounted for. Atlantic Yards North & South, two speculative buildings developed by Hines, will consist of 500,000 SF of speculative office space and developers Portman Holdings, The Allen Morris Company, Atlantic Capital Properties, North American Properties and SJ Collins Enterprises have all began construction on their newest office developments.
In the years 2020 & 2021, there is a projected 3.5 million SF of office space to deliver and 1.5 million SF of proposed office development in the pipeline. For a more detailed look into Midtown Atlanta’s office development including projects that are proposed and under renovation, click HERE.
Lee & Associates Atlanta is a full service commercial real estate firm specializing in tenant and landlord representation, for office, industrial and retail property, land and investment advisory, asset management and project services, valuation and consulting services. Locally, the office was founded in 2005 with 45 market professionals covering Atlanta and Georgia. We are a part of the Lee & Associates organization, which is comprised of 890 commercial real estate specialists serving clients through 56 offices across the United States. We are dedicated to providing outstanding customer service and are committed to achieving our clients’ goals and objectives.
The information and details contained herein have been obtained from third-party sources believed to be reliable; however, Lee & Associates Atlanta has not independently verified its accuracy. Lee & Associates Atlanta makes no representations, guarantees, or express or implied warranties of any kind regarding the accuracy or completeness of the information and details provided herein, including but not limited to the implied warranty of suitability and fitness for a particular purpose. Data sources: CoStar Group, Atlanta Business Chronicle, Curbed and Bisnow.