| Atlanta is a finalist for the massive Time Warner back office facility. It looks like it's coming down to incentives. |
| Time Warner's Keith Cocozza confirmed with us yesterday that the media giant is still considering Atlanta, Tampa, and Rochester, NY to locate a back office division that could bring up to 500 jobs(NYC's Time Warner Center is above). Some CRE pros speculated that a mystery 300k SF requirement that's been floating around the Midtown and Downtown submarkets was in fact Time Warner, but a source familiar with the requirement says it's not. It would especially make sense in Midtown given the proximity to Time Warner's Turner division next to GA Tech. The company is being courted by the three states to see which comes up with the most appealing incentive package, sources say. CBRE is running the deal for Time Warner. Called a shared service center, it's a plan to consolidate back office functions (like IT) into a single city. Sources further say a decision on the winning city is months away, and the company remains uncertain whether it will take existing space (certainly there's plenty), launch a build-to-suit, or anchor a new office tower. |
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