Puritan Mill Slated For Expansion
Chicago-based Origin Investments is coming to play in the West Midtown submarket.
The firm bought out the ownership interests of Weaver & Woodbery Co. in Puritan Mill, a two-building, 83K SF loft office project off Joseph E. Lowery Boulevard, for an undisclosed sum. Origin now co-owns the project with Urban Realty Partners. Hayes Swann and Huston Green, both with Colliers International, brokered the deal.
While the project is fully leased, there is a potential development play for Origin: The site is home to a nearly two-acre parcel that could add up to 110K SF. Plans are already in the works to potentially add retail and event space to the project.
Tenants already in the lineup include Herman Miller, architectural firm ai3 and solar engineering firm Radiance Solar.
“We expect to add considerable long-term value through the redevelopment of the adjacent parcel ... which will all be further supported by the broader redevelopment of the West Midtown market,” Origin managing director of acquisitions David Welk said in an email.
Origin has been a growing player in the Atlanta commercial real estate market, eyeing the possibility of a micro-unit apartment project in a JV with Aspen Heights and buying the Brand Bank facility in Buckhead.