Bisnow Scoop: Fintech Global Payments Could Be Latest Move To Midtown, Buckhead From 'Burbs
We've got the inside scoop on another Atlanta fintech company looking to leave the 'burbs for the city.
Sources tell us Sandy Springs-based Global Payments is eyeing a possible move into either Buckhead or Midtown, vacating its current offices ensconced in the wooded enclave of 10 Glenlake Parkway, just off Abernathy Road. Savills Studley's Chris White (on right with Cushman & Wakefield's Telly Fathally) has been tapped by the firm to hunt for some 200k SF, eyeing sites ITP, including at Atlantic Station, where Chris was instrumental in bringing another banner fintech firm, WorldPay.
Sources say while Global Payments is leased up at 10 Glenlake (here) until 2021 with 170k SF, it has a termination clause it could exercise. The problem: It's just out of space in the Central Perimeter office. And that's not helpful given the company is in the process of acquiring NJ-based rival Heartland Payment Systems in a $3.8B deal.
Heartland, which will help propel Global Payments into a company with some $3B in revenue annually, has a scattered office presence in Metro Atlanta, including in Alpharetta. Sources say Global Payments could keep a presence in Central Perimeter.
But Global Payments could very well be one of the prime contenders in the market for some of the new office buildings sprouting up, including Tishman Speyers' Three Alliance Center (here), Hines Interests' T3 planned techcentric office building (below) in Atlantic Station and Seven Oaks' 4004 Perimeter Summit.
Chris did not return calls seeking comment. And Global Payments officials declined to comment. The company would also be part of a trend of fintech companies packing up from the 'burbs for an intown presence, including NCR and WorldPay, which both made the moves in part to attract and retain Millennial employees.