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Images: Atlanta’s largest building seeks new lease on life

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When you think of Atlanta’s tallest building, you probably think of the pyramid-shaped Bank of America Plaza with its gleaming top.

Located one block north of Atlanta’s tallest skyscraper is the city’s largest building at nearly 100,000 square feet. The 47-story, 40-year-old landmark was formerly known as AT&T Midtown Center I and is now renamed Tower Square.

In addition to the new name, the building’s owner recently appointed a new rental team. The team believes the updated property is uniquely positioned to thrive in the face of the work-from-home and hybrid working zeitgeist, stimulating job growth and the economy of South Midtown. A fresh public function.

West Peachtree Street Plaza opened last year as a way for Tower Square employees to quickly access an outdoor work and play environment. Courtesy of Avison Young Atlanta Agency Leasing Group

The Class A office building (also formerly BellSouth Center and Southern Bell Center), which opened in 1981, is over 1.4 million square feet and is not only Atlanta’s tallest skyscraper, but also the largest in the southern United States, according to Avison Young. said Mr. Atlanta Agency Leasing Group, a commercial real estate firm, was recently tasked with filling it.

An Avison Young rep explained that the Tower Square building is “ready to use” following capital improvements completed last year. This includes Midtown’s largest private His Green Space, an elevated corner space on West Peachtree Street that aims to give employees access to fresh air and relaxing spaces after work. Includes the installation of a plaza..

According to Avison Young, the next store to open is a new two-story retail store next to the plaza, some of which is designed to interact with West Peachtree Street. The target tenants are vaguely “a variety of eateries and other retailers,” the company’s chief said this week.

Avison Young officials point to relatively new office residents working across the street from Norfolk Southern’s headquarters, Tech Square, CODA and Anthem offices, among others, as evidence of a retail market.

“It’s no secret that Atlanta is becoming more attractive to new industries and ventures looking to be near top talent and synergistic companies in technology, life sciences and more,” said a prepared statement. . “Tower Square has all the potential to be that hub.”

The leasing company pointed out some of the property’s attributes this week.

A recently redesigned lobby space at the foot of Tower Square. Courtesy of Avison Young Atlanta Agency Leasing Group

It’s the only facility in the district with an in-building MARTA connection (MARTA North Avenue Station) and has a ‘pedestrian’s paradise’ walk score of 91, along with nearby bike lanes.

According to Avison Young, Tower Square’s interior featured floor-to-ceiling windows and panoramic views, as well as column-less floorboards that allow for today’s layout flexibility.

Steve Dils, principal and managing director of Avison Young, said the reason for this is the availability of new homes in neighborhoods such as Lilli Midtown and Solace on Peachtree, as well as neighborhoods ranging from Georgia State University and Georgia Tech to Atlanta University Center. Named over 25,000 students at the university. As an employee of Tower Square, we have an environment that attracts diverse talents.

Rendering showing the building’s private plaza along West Peachtree Street and its function once fully built with retail and other components. Courtesy of Avison Young Atlanta Agency Leasing Group

Among Atlanta’s core districts, Midtown has the strongest rental momentum, according to . Recent Interim Report To Colliers, a global real estate brokerage firm.

Midtown absorbed 693,000 square feet of office space in the first half of 2022. That’s a volume Colliers described as “massive” and “impressive,” and the vacancy rate he said dropped to 17.6% in the second quarter. However, most of its successes (396,000 square feet leased) is attached to Google’s office deal in a newly developed tower further north on West Peachtree Street.

We asked for details on Tower Square’s current lease rates and how much space is left overall. We’ll update this story as information comes in. In the meantime, head over to the gallery to take a closer look at the building today and see how it’s expected to work soon.

Midtown news, discussion (Urbanization of Atlanta)

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