Portman Holdings' planned speculative office tower in Atlanta is now a build-to-suit, thanks to one of the country's largest health benefit providers.
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Anthem has inked a deal to pre-lease the entirety of Portman's 21-story Midtown office project across from its Coda high-technology tower.
Anthem, which operates Blue Cross Blue Shield in Georgia, will occupy all of the project's 352K SF for its IT hub, a group that will encompass some 3,000 employees, officials said.
The news comes just a week after Portman filed permits with the City of Atlanta to begin site work at the corner of Fourth and West Peachtree streets for what it had previously announced would be a twin mixed-use tower project of more than 600K SF. Portman officials said only the Anthem build-to-suit — to be called Anthem Technology Center — will break ground next year, with delivery expected by 2020.
Savills Studley Senior Managing Director David DiPietro, Executive Managing Director Kelly Givens and Senior Managing Director Liron Nelik represented Anthem in the deal. Portman Director of Leasing Travis Garland represented the landlord.
Anthem already has a presence in Midtown's Technology Square with a 6,500 SF technology innovation studio.
Midtown also has become a major hub of tech companies in recent years, many looking to leverage talent being produced at Georgia Tech. As for Portman, Anthem Technology Center will be its second office project in Midtown in the past five years.
Portman started construction last year on the $375M, 770K SF Coda project with a 300K SF pre-lease with Georgia Tech. Other tenants at the project include ThyssenKrupp and Next Tier HD, which will operate an 80K SF data center. Coda is scheduled to deliver in 2019.
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