Two For One? How Crawford & Co Move To Burbs Could Pave Way For Weather.com
One longtime global insurance consulting firm HQ'd in Central Perimeter may be packing its bags for Peachtree Corners. And that could leave the door open for one big office tenant to grab signage rights over I-285.
Sources tell us Crawford & Co is in talks with the owners of Midori, the 110k SF office building in the heart of Peachtree Corners off Triangle Parkway, as one of the preferred choices for its new global HQ location. Midori (here) was one of the buildings used by Fiserv before the fintech firm left Peachtree Corners for Alpharetta. Sources indicate other potential buildings are being eyed as well, including Powers Ferry Landing in Central Perimeter.
It's a deal that could potentially impact another high-profile RFP in the market: It could free up the space to allow Weather.com to move into Crawford & Co's current home at 1001 Perimeter Summit (below). Sources also say the new IBM division, acquired earlier this year from The Weather Channel, is in talks to occupy space—including that potentially being vacated by Crawford & Co—at the Perimeter Summit tower lording directly over I-285, and that any deal could include signage.
As we reported last week, Weather.com—being repped by CBRE and Scotland Wright & Associates' namesake Scotland Wright (above)—also is eyeing the former Gold Kist HQ that is ground zero for a potential major redevelopment.
If Crawford & Co moves to Midori, it could be a much-needed shot in the arm for Peachtree Corners—which lost Fiserv to Alpharetta—and Gwinnett County, which is still nursing a black eye from the loss of NCR's world HQ to Midtown.
Peachtree Corners' office market is one of the most cost-attractive in terms of rents in Metro Atlanta. Gwinnett office rents on average are just over $20/SF for Class-A space, far below the $23/SF average for suburban Class-A office in Metro Atlanta, according to Colliers International.
That said, the Peachtree Corners submarket has gained some corporate traction, mainly by securing Comcast's HQ last year. Officials with Crawford & Co declined to comment, as did officials with CBRE, who represent both the insurance company and the owners of Midori.