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Commercial Property Executive: Top 10 Office Projects Underway in Atlanta
June 12, 2020
by Jeff Hamann
Atlanta’s office development scene remains incredibly active: In the first four months of 2020, developers completed close to 1.7 million square feet of space, with an additional 1.5 million square feet slated for delivery through the end of the year. At the start of June, some 7.7 million square feet of office space was underway in Atlanta. Despite initial concerns that the COVID-19 pandemic would put a stop to development activity, the vast majority of the metro’s projects continue to move forward.
Although the shock of the pandemic will almost certainly result in falling demand for office space, Atlanta’s lower price points and diversified economy could help the metro’s properties weather the storm, to an extent. Even as uncertainty grows, speculative projects are still leasing up and work carries on, particularly in the Midtown submarket, which is home to 40 percent of all ongoing office development activity.
8. 14th & Spring
Slated for completion in June 2022, the 317,500-square-foot 14th & Spring is one of eight office developments underway in midtown Atlanta. Greenstone Properties and the PBS Group broke ground on the project in January 2020, backed by $84.7 million in construction financing from U.S. Bank. Balfour Beatty is the HKS-designed project’s general contractor.
When complete, the 12-story building at 1150 Spring St. will be the first phase of a larger mixed-use development, set to include a total of 15,000 square feet of retail space and 339 luxury rental units in a separate 12-story tower. In addition to a wide range of amenities—from bicycle storage to a rooftop terrace—the project will have a subterranean parking structure with 840 spaces. The developers are pursuing LEED Certification.
Link to Full Story of Top 10 Projects