Westside Paper Scores Leasing Wins: The Atlanta Deal Sheet
Westside Paper, the adaptive reuse project, continues its run of leasing wins.
In the latest deal at the former home of the Atlanta Paper Co., Packsize, a custom packaging provider, leased 33K SF for a new office.
This was one of the larger deals in Atlanta’s Westside this year, Westbridge founder Chris Faussemagne said, and it is a new office for the company in Atlanta.
CBRE’s Jeremy Krause and Ben Kronman brokered the deal for Packsize, while JLL’s David Horne and Caroline Fisher represented the landlord, FCP and Westbridge.
The lease comes after Atlanta-based packaging firm Veritiv announced an expansion of its partnership with Packsize in March.
Packsize is among a handful of companies that have leased a collective 70K SF at Westside Paper in the past few months. The Home Depot-owned Construction Resources augmented its 50K SF showroom at the property with a 23K SF office, and live events technology firm Disguise inked 10K SF.
Overall, in the past 20 months, FCP and Westbridge inked 180K SF of new leases at the 240K SF adaptive reuse site.
LEASES
The Atlanta-based general contractor and construction firm Choate Construction is relocating to The Terraces in Perimeter.
The firm inked 57K SF at the 1M SF office campus in Central Perimeter, across from Perimeter Mall. The firm is moving from its longtime home at 8200 Roberts Drive, just off Georgia 400, and will occupy the North Terraces building.
Stream Realty Partners’ Jeff Heller and John Winter represented Choate, while JLL’s Brooke Dewey and Glenn Aspinwall brokered the deal for the landlord, MetLife Investment Management.
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The law firm Drew Eckl & Farnham has inked a 40K SF lease on the sixth floor of 1375 Peachtree, relocating from Truist Plaza to the 412K SF office building in Midtown.
Newmark’s Craig Kalinowski, Stewart Thrash, Brad Kirschner, RJ Zurak and Lindsay Kalski brokered the deal for the property’s asset manager, FullG CRE Investments Inc., while Stream Realty’s John Winter and LJ Wilhelmi brokered for the law firm.
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The residential listing database is opening a new service center this July in Atlanta’s West End.
First Multiple Listing Service has leased 3,300 SF in the 1070 building at Lee + White, the 443K SF adaptive reuse project of a former warehouse. The project, located along the Atlanta BeltLine, is owned by Ackerman & Co. and MDH Partners.
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Koch Inc. subsidiary software firm Infor has subleased 82K SF at Campus 244 for its new Atlanta headquarters, the Atlanta Business Chronicle reported.
The company is moving its headquarters from New York, where it has been since 2012. It had previously moved to New York from Alpharetta.
The company told the ABC it expects to house more than 500 employees at the Central Perimeter office complex in the near term.
SALES
Chicago-based CenterPoint Properties purchased Building 100 at Cartersville Logistics Park in Bartow County from a joint venture between Corebridge Real Estate Investors and Transwestern Development.
The 251K SF warehouse is leased fully to a third-party logistics operator. It was developed in 2022.
CenterPoint paid $33.5M for the property, according to the Georgia Superior Court Clerks' Cooperative Authority database.
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An LLC tied to New Jersey-based Faropoint purchased two industrial flex buildings in Gwinnett County for more than $20M.
The firm purchased the 142K SF 3883 Steve Reynolds Blvd. building for $20.1M from an LLC attached to Link Logistics, according to GSCCCA database tax records.
Faropoint also acquired the 81K SF 3950 Steve Reynolds Blvd. flex facility in Norcross for $12.2M from the same previous owner.
PERSONNEL
Keith Benator joined Portman as executive vice president of capital markets. Benator, a 20-year industry vet with more than $3B in real estate transactions during his career, previously served as senior vice president at Jamestown.
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Partners Real Estate tapped Trey Dove as senior vice president. Dove comes most recently from Capital Real Estate Group, the Atlanta Business Chronicle reported.
