Lincoln Financial Adding Hundreds of Jobs, Moving to RiverEdge Summit
Lincoln National Corp is planning to beef up its group insurance division in Atlanta, adding hundreds of jobs to the metro economy.
In what will amount to another economic development coup for the metro area this year, Lincoln Financial Group is in talks to lease 100k SF at RiverEdge Summit in Sandy Springs. There, sources tell us, the company plans to expand its group insurance division by adding an undefined number of new jobs to the metro economy (although it's expected to be in the hundreds given the small presence the division has now at both Paces West and Platinum Tower). In economic circles, the deal was known as Project Copper. Lincoln's other division, Lincoln Financial Media (which owns Atlanta radio stations Star 94FM and ESPN 790 The Zone), is being sold to Entercom Communications Corp, and is not part of this office deal.
Lincoln's deal also exemplifies a growing conundrum for companies looking for big blocks of office space in many areas of Atlanta: You can just as easily get bumped by another company willing to make a deal for a shrinking supply of big office blocks. (And RiverEdge Summit's own Peeping Tom, the resident wild turkey, is more popular than ever). In this case, Lincoln's pending deal has bumped United Healthcare out of the running for the same spot at RiverEdge Summit. United Healthcare has been scouting the Central Perimeter market for 85k SF (with JLL representing). Calls to JLL were not returned by press time.