FanDuel Bets On Ponce City Market For Tech Hub
Online fantasy sports and sports betting platform FanDuel Group is leasing a $15M technology hub in Ponce City Market.
FanDuel, which is a division of British Flutter Entertainment PLC, announced Monday morning that it signed a lease for 68K SF at Jamestown's iconic Midtown redevelopment. FanDuel plans to operate its software engineering, product development, user experience and user interface teams at the mixed-use property, growing to 900 workers over the next five years.
“Ponce City Market is the perfect location for our new technology campus and reflects our commitment to becoming a central part of the Atlanta corporate footprint,” FanDuel Chief Product Officer Sarah Butterfass said in a press release. “Additionally, its location allows us to build deep ties to Atlanta’s diverse pipeline of talent coming from its many top-flight universities.”
The announcement comes nearly a month after Gov. Brian Kemp announced that FanDuel planned to open a tech hub in the city, the latest in a string of companies moving to Midtown.
This also is the latest win for Jamestown, which developed Ponce City Market in a former Sears multi-story warehouse in the Old Fourth Ward neighborhood. The project now encompasses 643K SF of office, 300K SF of retail, 75K SF of entertainment and more than 36 restaurants, abutting the Atlanta BeltLine.
FanDuel is likely to be followed by another big office lease. Twitter is expected to expand its office footprint at Ponce City Market, taking as much as four times its current 9K SF there, the Atlanta Business Chronicle reports, citing sources familiar with Twitter's plans.
Twitter will backfill some of the space at Ponce City Market that MailChimp will leave behind when it moves to the first phase of New City Property's Fourth Ward project, anchoring a 480K SF office building by next year, the ABC reports.
Jamestown is planning to develop 160 residential units atop an existing parking deck along North Avenue at the site. The developer's further expansion plans include another office building, an outdoor courtyard surrounded by 38K SF of retail and dining, and another 400 units of "hospitality living."