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BREAKING: FBI Taps FD Stonewater for New Regional HQ

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After a three-year manhunt, the FBI has seized a piece of land (OK, not really seized so much as chosen) in Atlanta to build its new regional HQ. Arlington, VA-based FD Stonewater has been tapped to develop the 151k SF facility at the unidentified parcel (said to be off I-85 in the Chamblee submarket). FD Stonewater inked a 20-year, $101M lease with the GGS on behalf of the FBI to solely occupy the facility. 

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FD Stonewater principal David Alperstein (here with partner Richard Mann) says this is his firm's 14th build-to-suit for a federal agency across the US. And with the FBI, it has been a matter of reducing its overall footprint while at the same time creating more efficient and specially focused space in light of the FBI's ever-evolving law enforcement roles (think both terrorism and computer crimes). The FBI is even evaluating three different developers for a 2M SF-plus HQ building near Washington, DC. Although the GSA is experiencing delays because it can't spend any money on a new national HQ, it's expected to choose its DC site next year. David says FD Stonewater should break ground in Atlanta in early 2016 with delivery by late 2017.

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Highwoods Properties Vice President Jim Bacchetta

The Atlanta HQ's been a lengthy search process to replace its current 140k SF-plus facility at 2635 Century Pkwy. We first broke the news in 2012 that the GSA, which handles leasing for federal departments, had tapped CBRE to hunt for a new Atlanta office. And last year Highwoods Properties' Jim Bacchetta (here) told us he expected the FBI to leave its Century Center building. Highwoods officials were mum on the latest news.