Jamestown Snags Atlanta Payroll Firm In Latest Deal At Ponce City Market
A third technology tenant is heading to Ponce City Market this year.
HR and payroll software company OnPay announced Tuesday plans to lease almost 21K SF at Ponce City Market, Jamestown's trend-setting adaptive reuse project in Midtown Atlanta.
OnPay, which expects to move to Ponce City Market by the fall from its current headquarters in the heart of Midtown at Promenade II, plans on doubling its workforce over the next 24 months, the company announced in a press release. OnPay raised $6M in Series A funding last year to hire more workers and expand its marketing and product development efforts.
“This move will allow us to better accommodate our fast-growing teams, continue to attract great talent, and play an increasingly meaningful role in Atlanta’s tech community,” OnPay CEO Jesse Burgess said in a statement.
This is the latest office deal at Ponce City Market, a former Sears multi-story warehouse in the Old Fourth Ward neighborhood that has become a local paragon of adaptive reuse success. Jamestown converted the property to 643K SF of office, 300K SF of retail, 75K SF of entertainment, and more than 36 restaurants and food stalls abutting the Atlanta BeltLine.
Earlier this month, online sports betting platform FanDuel Group inked a 68K SF lease for a $15M technology hub at Ponce City Market. Twitter is also in talks to expand to more than 30K SF at Ponce City Market, where it currently leases 9K SF, the Atlanta Business Chronicle reported.
Jamestown has been backfilling the coming loss of one of its first-generation anchor tenants after MailChimp signed a 300K SF deal to move to New City Properties' neighboring Fourth Ward development at 760 Ralph McGill Blvd.
MailChimp officials said the firm, which occupies more than 130K SF at Ponce City Market, was unable to expand any further at the building, where it has been since 2013. MailChimp is expected to move to its new property by fall 2022, New City President Jim Irwin said in an interview Wednesday.
New City is marketing the remaining 150K SF at Fourth Ward to an active market, Irwin said.
“We are very encouraged by the amount of activity we're seeing in the market so far, both from in-market tenants that are looking to modernize their space and new-to-market inquiries,” Irwin said. “As we sort of come out of the Covid freeze, you're finding businesses desperate to get people back to work and looking for locations and markets that are frankly desirable. And Atlanta largely, and the Fourth Ward particular, with the BeltLine and heavy amenitization, provides a place where employees are glad, they want to come back.”