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The  office market is finally rebounding. (Time to break out that special bottle of "Office Market Rebounding" wine you've been saving for just such an occasion.)
Piedmont Office Realty Trust?s George Wells, Parkway Properties' John Barton, Regent Partners' David Tennery and Arnall Golden Gregory?s Russell Arouh during the first panel of our Atlanta State of Office event last week at the Ritz-Carlton Buckhead
Piedmont Office Realty Trust?s George Wells, Parkway Properties'John Barton, Regent Partners' David Tennery and Arnall Golden Gregory?s Russell Arouh (our valued sponsor and moderator) headlined the first panel of our Atlanta State of Office last week at the Ritz-Carlton Buckhead. They were bullish on the Atlanta office market, a stark change in tone from our 2011 event. (Must be the Falcons doing so well.) George highlighted various companies that recently struck deals here, including Teradata Corp, Krystal, and Galectin Therapeutics—which moved its HQ to Peachtree Corners from Boston. ?The trend is there. We're getting the  right kind of office users  into Atlanta,? George says.
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David sees Atlanta's office absorption as ?much deeper? than any time since the Great Recession. Tenants are not just playing ?musical chairs? with space. And that's encouraging institutional investment interest here again. ?We've seen some very strong, very smart, very  long-term key equity players  coming back into Atlanta,? David says. Click to hear David's thoughts on the return of Atlanta.
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Cousins Properties' Thad Ellis (right, with Eastdil Secured?s Drew Barnette showing us that green ties are in this season) notes that Downtown Atlanta is still slower  than the other submarkets, with that affecting 191 Peachtree Tower, which is 87% leased. ?We need to be  above 90%,? Thad says. But Cousins signed six leases,totaling some 45k SF at Promenade II, which it acquired last year, including expanding Buckley Klein and  inking an 11,500 SF lease with Blink, a Gannett-owned digital marketing firm that's new to Atlanta.
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We chatted with Kurt after our panel; he says Hines has its  sights set on urban sites in Atlanta for a  second apartment complex.Click to hear more details about Hines? multifamily plans  for Atlanta and across the nation.