Granite Sees Activity Boost in ATL Portfolio
A string of leases for Granite Properties is a litmus of the overall activity that is still burgeoning in Buckhead and it's emerging in the Cumberland/Galleria area, the company's Atlanta leader, John Robbins, tells us.
Its rate of activity and deals, though, in Cumberland has accelerated this year, John says. Those deals include Chapman Griffin Lanier Sussenbach Architects' 10k SF renewal at 2500 Cumberland, and RiverStone Resources' 10k SF lease at 3301 Windy Ridge. It's been a level of activity that has seen its 100 City View building go from 70% to 95% leased, 2500 Cumberland from 50% to 85% leased and 3301 Windy Ridge jump from 50% to 77% leased in the past two years.
John (here with his wife, Jae, and their two kids) tells us that Buckhead has been extraordinarily active. And that's across the board, from the trophy towers to the Class-B office space. Take the firm's Piedmont Center 5-8. Since the beginning of 2015, it's inked 20k SF in deals, including Cloud Sherpas' 7k SF deal in Building 7 and Corsairus' 6,100 SF deal in Building 8. While it's a string of small deals, Granite is seeing bigger tenants, given its 100k SF of vacancy there, which John says should largely be filled by year's end.