The Edison. Picture courtesy of Stream Realty Companions
Morgan Stanley has signed a 100,000-square-foot lease extension at The Edison, a two-building workplace advanced in Alpharetta, Ga. The monetary companies firm expanded its authentic, 116,000-square-foot lease, absolutely occupying the Class A workplace campus.
Stream Realty Companions’ crew of Managing Administrators Peter McGuone and Bryan Heller negotiated on behalf of the owner, Invesco Actual Property, whereas JLL represented the tenant. The proprietor picked up the property in 2020 from vendor TPA Group, based on CommercialEdge.
Constructed between 2018 and 2020, the workplace advanced consists of a pair of two-story buildings situated at 1 and three Edison Drive, and consists of two passenger elevators, 27,000-square-foot flooring plates and a complete of 1078 car parking spots, based on the identical supply. Widespread-area facilities embody 10,000 sq. toes of amenity house, on-site café, a clubhouse, a health middle, a convention middle and outside assembly areas.
Located on an roughly 35 acres within the North Fulton submarket, the campus is near Georgia State Route 400. The property is 3 miles from downtown Alpharetta, 27 miles from downtown Atlanta, 30 miles from Marietta and inside 38 miles of Hartsfield–Jackson Atlanta Worldwide Airport.
Workplace leasing improves in Atlanta
Atlanta’s workplace emptiness charge improved in April, a latest CommercialEdge market replace exhibits. The market began the 12 months at 20.0 % emptiness. The metro confirmed indicators of enchancment in March, when it’s emptiness lowered to 19.8 %, additional reducing barely in April, to reached 19.7 %. That very same month, JPMorgan Chase & Co. expanded its Atlanta footprint with a 40,000-square-foot deal at Monarch Tower.
Earlier this 12 months, The Transportation Safety Administration signed a 44,000-square-foot workplace lease at 1500 Centre in Atlanta’s East Level suburb. The 97,969-square-foot, Class A property is located inside Camp Creek Enterprise Heart.
