Paces West. Picture courtesy of CP Group
5 new tenants at CP Group’s 18-story, 640,000-square-foot Paces West workplace constructing in Atlanta have signed leases on the Vinings property, together with three for area within the firm’s new move-in prepared workCPlaces spec suites.
CP Group, which has owned the property at 2727 Paces Ferry Street SE since June 2019, is about to ship six new spec suites, also called Spec Locations, by the tip of the yr together with three for incoming tenants. The newly signed tenants are:
- Ellie Well being, a wellness companies supplier that was represented by Sam Zelony of Windsor Realty, signed a lease for a 3,129-square-foot spec suite.
- Midea Group, a world high-technology firm that was represented by Matt Barnes of Savills, signed a lease for a 3,618-square-foot spec suite.
- Johnson Service Group, a staffing and consulting agency represented by Kush Mirani of CBRE, leased a 5,394-square-foot spec suite.
- Barry Wehmiller Design Group, an engineering, structure, development, system integration and consulting agency, leased 2,953 sq. ft of area and was represented by Frank Cannon of CBRE.
- GA Medicare 101, an insurance coverage firm that was represented by Kevin Hermetz of Ackerman & Co., leased 3,094 sq. ft of area.
Jeff Bellamy and Adam Viente from JLL represented the owner in every transaction.
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Paces West is located 2 miles from I-75 and has quick entry to I-285. The constructing is a brief drive to Truist Park, residence of the Atlanta Braves, and the Cobb Vitality Performing Arts Centre. Additionally it is inside strolling distance to quite a few motels, eating places and a boutique buying heart. Property facilities embody a health heart with locker rooms, showers and yoga rooms; a café and occasional store; on-site banking; dry cleansing; automotive wash service; two convention rooms and 24-hour manned safety.
Flex area program
CP Group, the second-largest workplace landlord in Atlanta, rolled out the primary versatile workplace areas in August 2022 at its Lakeside Workplace Park and One and Two Ravinia within the metropolis. The spec suite program was introduced in late 2021 and designed in collaboration with Gensler, later joined by ASD | Sky. Earlier this month, the Boca Raton, Fla.,-based firm introduced it plans to finish 340,000 sq. ft of the versatile workplace suites this yr throughout its portfolio. Atlanta workplace properties which can be a part of this system embody 5600 Glenridge and the Financial institution of America Plaza, the 55-story, 1.3 million-square-foot workplace tower in Midtown Atlanta, acquired by CP Group in March 2022, Cumberland Heart II and 3225 Cumberland, each within the Cumberland/Galleria submarket.
The personalized suites are designed to satisfy the wants of corporations looking for move-in, but scalable workplace environments for evolving groups. The workCPlaces model has three varieties of areas which can be aimed toward small to medium-size tenants and enterprise-level companies. Along with Spec Locations, the move-in prepared pre-built workplace suites, the opposite choices are Flex Locations, particular person suites with shared facilities, supposed for high-growth corporations, and Cowork Locations, scalable coworking workplace area for small, rising groups.
Brendan McGee, director of worCPlaces at CP Group, stated in a ready assertion the corporate is seeing excessive demand for customizable and adaptable environments by employers looking for environments that may accommodate their quick, fast-evolving wants and long-term enterprise objectives. He stated the leasing momentum in a market like Atlanta has almost outpaced the corporate’s potential to assemble the customized spec suites.
