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Atlanta Commercial Real Estate

Parkway Nearly Full in Buckhead

Parkway Properties' John Barton is running out of space in Buckhead. And that's a really big deal. Fresh from inking PulteGroup's 101k SF HQ and Blue Cross and Blue Sheild of Georgia's  recent 29k SF expansion, the One Capital City Plaza tower is now  99% occupied. (Soon, there will be nowhere to hide and take a nap during work.) "All of our Buckhead buildings are essentially full, and we are materially outperforming the Class-AA and A occupancy rates in the Buckhead submarket and the overall Atlanta market," John says.Parkway also leased a  61k SF renewal for the Board of Regents of the University System of Georgia and a mix of  renewals and expansions totaling 135k SF for Georgia State University Foundation, both at Tower Place 200. Those deals have pushed occupancy there to  more than 92%, 10 points higher than when Parkway acquired the tower in January. "More and more users—particularly the large users—are realizing that their space options are drying up," he says.

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