North America's No. 2 Civil Contractor Picks Atlanta For New HQ
Atlanta just landed the headquarters of one of North America’s biggest builders, which is taking the top floor at a building in the Perimeter Summit complex.
FlatironDragados, the second-largest civil contractor in North America, signed a roughly 25K SF lease at 4004 Summit Blvd. in Brookhaven to establish its new corporate headquarters, it announced Monday.
The infrastructure giant is moving to the market after the 2024 merger between Colorado-based Flatiron and Spain-based Dragados’ North American arm.
“This represents an exciting new chapter for our company and creates opportunities for our people to grow,” FlatironDragados Chairman Peter Davoren said in a statement. “We look forward to leveraging the region’s exceptional talent, partnering with top civil construction firms, and advancing solutions that shape sustainable, resilient infrastructure across North America.”
The company is building the $4.6B toll lane expansion of Georgia State Road 400 near its new headquarters and had nearly $7B in revenue last year, according to The Atlanta Journal-Constitution. It signed a separate, 50K SF office lease at 800 Parc Point in Alpharetta in March for the team working on that project.
The company plans to employ 100 workers and start operating out of the top floor of Summit Four by the end of the year, according to its press release. Some employees are already in temporary space at one of the other buildings in the 1.7M SF complex, which is owned by Spear Street Capital.
Spear Street was represented in the deal by JLL's Brooke Dewey, Adam Viente and Alexis Vondersaar. JLL's release says the company will start working out of Summit Four in summer 2026.
“After evaluating several potential locations across the country, FlatironDragados saw incredible opportunity in the vibrancy of Georgia, the favorable business landscape in Atlanta and the amenity-focused office experience at Perimeter Summit,” Dewey said in a statement.
San Francisco-based Spear Street paid $278M in January 2023 to buy 1001 Summit, 2002 Summit and 4004 Summit from State Street and the General Electric Pension Trust, while the joint venture lost 3003 Summit to foreclosure in October that year.
JLL has executed more than 250K SF of leases at Spear Street's buildings in the last 18 months, it said in the release. High Street Residential is under construction on a 350-unit apartment building in the mixed-use complex that is expected to deliver next fall.
FlatironDragados worked with CBRE’s John Shlesinger and Grey McCarthy on the new-to-market lease, which is a shot in the arm for a local office market that has taken its lumps.
Tenants vacated more than 700K SF more than they took up through the first six months of the year, according to JLL. That represents a slowdown after more than 6M SF of negative net absorption in the prior two years. Vacancy, at 27%, is above the national average, but that is coming down in part because so many office buildings are getting torn down.
But while the market fundamentals may be improving, leasing activity fell 45% between the first and second quarters, driven by tariff uncertainty, Bisnow previously reported.
