1) What is in the development pipeline in Central Perimeter?
2) Will transportation be able to accommodate the rapid growth of Central Perimeter, while fostering livable communities? How can Central Perimeter make itself a viable host to companies like MassMutual who cite lack of transit infrastructure as a reason to relocate out of the neighborhood?
3) What does the six month moratorium on multifamily development mean for Dunwoody?
4) With rising construction costs, will multifamily developers continue to build here or flock further out to the suburbs?
5) Will office space, the cornerstone of Central Perimeter’s growth, continue to be the driving factor, or will medical facilities outpace office?
Terraces is a pair of 11-story Class-A office buildings located in the Central Perimeter submarket of Atlanta. Originally developed by MetLife Investment Management, then reacquired by the firm in 2013, Terraces has recently renovated tenant-focused amenities including expansive, reimaged lobbies, collaborative gathering zones, a state-of-the-art fitness center, an additional 30-person presentation style conference center, and expanded common spaces known as “sky lobbies” that offer ample natural light and floor to ceiling views of the Atlanta skyline. Phase two of the project, slated to begin in 2019, will be dedicated to enhancing the property’s exteriors including significant improvements to its 24-acre campus. The refreshed landscape will feature lake-side seating and 1.5 miles of walking paths providing tenants with abundant outdoor gathering space and a welcomed escape from the conventional office setting.
Terraces’ strategic location provides convenient and desirable access to the area’s high-quality talent pool. The property’s setting offers access to more than 30 walkable dining, lodging and retail options. The campus is also conveniently located within close proximity to the Dunwoody and Sandy Springs MARTA stations, as well as major Atlanta thoroughfares GA 400 and I-285.
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What's Next for Central Perimeter
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Future of Transit
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115 Perimeter Center Place
Atlanta, GA 30346
Floor: 7th floor
Parking Information: Parking available on the 3rd level of the parking garage. Please enter the property through the entrance across the street from the Target monument sign located on Perimeter Center Place. Once parked, please take the elevator down to the 1st level. There is a building entrance sign immediately to the right when getting off the elevator. Please follow the hallway until you reach the 1st floor main lobby. The security team will be in the parking garage and in the hallway leading to the building to help with direction.
According to Cushman & Wakefield, office and residential inventory growth in Central Perimeter is quickly outpacing other Atlanta neighborhoods, with average office rents nearly 25% higher than the Atlanta market overall. This is largely due to MARTA's success in attracting a solid customer base, which has ushered in redevelopment and new construction.
Over the past decade, the number of new residential units within half a mile of MARTA stations has more than tripled inventory growth elsewhere. Central Perimeter's strong corporate growth has also driven real estate interest and the expansion of transit-oriented development.
Convenient transportation is an issue, however: 75% of Dunwoody residents commute alone in personal vehicles, just 6% use buses, and a scant 0.1% ride bikes. Exceedingly car-dependent neighborhoods suffer from high congestion. Having public transportation is central to driving company relocation: major headquarters like Insight Global, who inked the largest office deal of 2018 at Twelve24, cited MARTA proximity as paramount.
MassMutual just relocated their company headquarters out of Central Perimeter to Gwinnett County. Managing Partner Jeffrey Bulvin said the traffic conditions in Central Perimeter were becoming too burdensome for his 100+ person workforce.
Find out from our all-star panel of city officials, developers and owners what they are planning to accommodate tenant growth with live, work, and play in mind.
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