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Goldman Sachs Signs Office Deal At Upcoming Phipps Plaza Tower

A global investment banking firm is taking up shop at Simon Property Group's new Buckhead office tower.

One Phipps Plaza, the office building that is part of the larger Phipps Plaza redevelopment.

Goldman Sachs has leased 36K SF — a floor and a half — at One Phipps Plaza, the 13-story, 365K SF office building Simon is developing overlooking the luxury Phipps Plaza mall, sources familiar with the deal tell Bisnow.

Goldman Sachs is relocating its Atlanta office from Monarch Plaza, just south along Peachtree Road from Phipps Plaza, where it leases 13K SF, according to CoStar data shared with Bisnow. It is unclear when the New York-based financial giant will move to the tower, which topped out in April and is expected to open next year. 

This is Simon's second high-profile pre-lease at One Phipps, which is part of the larger reinvention of the mall proper. Nearly a year ago, Novelis announced that it planned to relocate its North American headquarters from Two Alliance Center into 90K SF at One Phipps.

Spokespeople for Simon Property Group, Goldman Sachs and Newmark, which is representing Goldman in the deal, declined to comment. Officials with CBRE, which leases One Phipps for Simon, didn't respond to a request for comment.

Highwoods Properties Senior Vice President Jim Bacchetta, whose firm owns Monarch Plaza, also declined to comment.

Simon is redeveloping its upscale Buckhead mall, adding a 152-room Nobu hotel and restaurant as well as a 90K SF Life Time Fitness.

Goldman Sachs has been growing its presence in Atlanta. In March, it completed the all-stock purchase of Atlanta-based fintech firm GreenSky Inc. Goldman Sachs Urban Investment Group also infused MARTA with $100M in March for the transit agency's Atlanta Affordable Housing and Transit-Oriented Development initiative that seeks to finance mixed-income TOD projects in proximity to its transit stations.