Arby's Plans To Vacate Headquarters, Eyes Former Newell Rubbermaid HQ
Piedmont Office Realty Trust will no longer have the meats at its Central Perimeter office building.
The Atlanta-based office investment REIT — with more than $5B in assets in its portfolio of 19M SF — is actively marketing the space currently occupied by Arby's Restaurant Group's corporate headquarters, Piedmont REIT Executive Vice President George Wells said.
The firm does not expect Arby's to renew its 125K SF headquarters at 1155 Perimeter Center West, the 377K SF office building in the heart of Central Perimeter. Piedmont REIT has tapped JLL Executive Vice President Adam Viente and Senior Vice President Jeff Frantz to market Arby's headquarters space, which is expected to be available in early 2019, he said.
“They've been very quiet,” Wells said. "They're exploring their options."
Sources said Arby's is zeroing in on Three Glenlake Parkway — the 14-story, 376K SF office building at Abernathy Road and Georgia 400 in Sandy Springs — as its new headquarters.
As Bisnow first reported, Arby's issued a request for proposals on potential new office locations earlier this year, tapping JLL International Director David Demarest and Senior Managing Directors Brannan Moss and Josh Hirsh for the search that could encompass as much as 150K SF. Moss declined to comment for this story.
Arby's owns or franchises more than 3,300 restaurants in 48 states and seven countries.
Three Glenlake was formerly occupied by Newell Rubbermaid's corporate headquarters. In 2015, Rubbermaid purchased 6655 Peachtree-Dunwoody Road, a nearly 200K SF office building in Embassy Row, where it soon after consolidated.
Last year, the company announced it was moving its headquarters to New Jersey following its merger with Jarden Corp.
Spokespeople for Columbia Property Trust, which owns Three Glenlake, and Arby's declined to comment.
Atlanta-based REIT Columbia Property Trust has seen some momentum at its Glenlake office complex. After spending $3M to renovate One Glenlake Parkway, Three Glenlake's sister building, it inked a deal with healthcare technology provider Cotiviti for 66K SF and expanded Regus to nearly 40K SF this year.