Cousins Files Permits Laying Groundwork For Expanded Parking Deck And Park At Capital City Plaza
The Atlanta-based REIT, one of the largest office landlords in the metro area, filed a permit with the city of Atlanta to add a 14K SF parking deck, retail space and a plaza to One Capital City Plaza in Buckhead. The permit would only seek to prepare the land for the $7.4M expansion jutting off Cousins' 409K SF office tower off Peachtree Road.
The parking deck would be expanded by more than 300 spaces to 1,004, the Neighbor Newspapers reported. But atop that deck, Cousins plans to install a publicly accessible park with manicured lawns and plantings as well as added space for another restaurant, the paper reported.
Capital City Plaza was among five Buckhead office assets Cousins acquired in 2016 as part of its merger with Parkway Properties.
Cousins Executive Vice President John McColl told Neighbor Newspapers the planned renovation is an attempt to improve the aesthetics of Capital City Plaza, which was built in 1989. While the tower is 95% occupied, Anthem Blue Cross/Blue Shield is expected to vacate more than 200K SF by the middle of next year as the firm consolidates into its new digs in Midtown, according to CoStar. Other major tenants at Capital City Plaza include the headquarters of homebuilder PulteGroup and Workday.
Officials with Cousins did not respond to emails seeking comment.