Timberland REIT Selects Buckhead For HQ: The Atlanta Deal Sheet
A newly formed timber company is making its headquarters at Terminus 100 in Buckhead.
Timberland REIT Rayonier Inc. signed an approximately 36K SF lease for its headquarters at the 27-story, 590K SF tower in the heart of Buckhead’s financial district, the company announced in a press release. The deal follows Rayonier’s January merger with Georgia-based PotlatchDeltic Corp., which controls a combined nearly 850,000 acres of forested land in Georgia, the Atlanta Business Chronicle reported.
Rayonier is moving its headquarters from Florida, while PotlatchDeltic previously was based in Spokane, Washington. The new Atlanta headquarters is expected to open in the first quarter of 2027.
“Our new headquarters establishes a strategic hub in the heart of the U.S. South, combining a thriving business ecosystem with proximity to a significant portion of our landholdings,” Rayonier CEO Mark McHugh said in the release.
Cousins Properties’ Jeff Dils and Cameron Bloodworth brokered the deal for the landlord, while JLL’s Ryanne Pennington and Brennan Koslow represented Rayonier.
LEASES
Luxury gym Equinox is leasing 44K SF at Buckhead Village for its first-ever Georgia location, set to open in 2027. Equinox will offer group fitness, Pilates, personal coaching, a full-service spa and wellness offerings as well as its training facility in the Jamestown-owned project, formerly known as Buckhead Atlanta.
"Atlanta has long been one of the most important markets on our growth roadmap, and Buckhead Village presented a unique opportunity to introduce the Equinox experience in a location that reflects the energy, sophistication, and lifestyle of the city,” Equinox Head of Development Andy Subervi said in a press release.
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Atlanta law firm Kabat Chapman & Ozmer LLP has inked a 13K SF lease at 14th & Spring, the 12-story, 324,500 SF tower at 1150 Spring St. in Midtown. The firm plans to move from its current location at the Wells Fargo Tower at 171 17th St. in Atlantic Station.
CBRE’s Kyle Kenyon, Nicole Goldsmith and Jeff Keppen represented the landlord, Shorenstein. Raney Real Estate’s Ben Raney brokered the deal on behalf of the law firm.
FINANCING
Allen Morris Co. refinanced its signature West Midtown office tower with money from Mexico.
Banco Inbursa provided a $113.7M refinancing loan for Star Metals Offices, the 15-story, 267K SF Class-A office tower located in the Star Metals District mixed-use project off Howell Mill Road.
The refinancing retires a previous construction loan from Bank OZK and Barings, according to an Allen Morris press release. Bank OZK provided Allen Morris an initial $66.6M loan in 2019 that was originally set to mature in March 2023, according to loan documents from the Georgia Superior Court Clerks' Cooperative Authority database. In that same year, the Fulton County Development Authority issued a $133M revenue bond to help finance its construction.
The Bank OZK loan was restructured and expanded to $74.4M in 2024, with a revised maturity date of March 28, 2026, according to database records. Details on the new loan were not disclosed. Star Metals Offices is 97% leased.
SALES
The cost of Portman Holdings going home again is $66.7M.
That’s the price tag the Atlanta-based development firm paid for the Westin Atlanta Peachtree Plaza last month, according to the Georgia Superior Court Clerks' Cooperative Authority database. Portman announced in May it bought the iconic 73-story cylindrical hotel from Marriott International through its Portman Hospitality Fund I but did not disclose a purchase price.
Portman’s eponymous founder, John Portman, who died in 2017 at the age of 93, designed and built the more than 1,000-room hotel in 1976. The building is one of the tallest hotels in the Western Hemisphere.
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LM Real Estate Partners purchased a nearly 100K SF cold storage warehouse at 109 Thompson Road in Hiram, fully leased to Hungryroot, from Jones Development Co. for $27.5M, according to a press release.
The facility was developed earlier this year by Jones Development.
Colliers’ Robyn Hurrell, Kyle Kidd, Alex Cantu and Alex Davenport brokered the deal for the seller.
DEVELOPMENT
Vida Cos. is breaking ground on Carrena, a 289-unit apartment complex at 3130 Financial Center Way near the Mall of Georgia in Buford after obtaining construction financing on June 1. Carrena is the first of three development projects using capital from Vida’s $47M Opportunities Fund.
The four-story apartment complex will feature a saltwater swimming pool, gym, piano lounge, roof deck and lounge, and nature trails.
The project is set to begin accepting residents in the fall of 2027.
