In an attempt to capture the momentum of technology companies moving to Midtown, Georgia Tech is making its first stride toward developing a more than 600k SF technology-centric tower in Technology Square, housing both high-powered computing and incubator space.
Cushman & Wakefield released an RFQ seeking developers to help Tech expand Technology Square and develop the High Performance Computing Center (rendering here). The mixed-use tower will include in excess of 600k SF of office space, half of which will be leased by Georgia Tech, and another 100k SF that is under LOI with an unidentified tech company, according to RFQ documents here. C&W's Tony Zivalich is leading the charge for the esteemed university, but was unavailable for comment. “Details of these industry partners and their level of commitment will be disclosed to the finalists during the advanced stages of the RFP phase,” officials state in documents.
This is the latest evidence that Midtown has become the preferred Atlanta home for tech companies. Just this past week, NCR finalized details on its planned move to Centergy Two at Technology Square, and numerous tech and healthcare companies have flocked to the submarket in recent months, including Athenahealth and Mail Chimp at Ponce City Market. Tech looks to create a hub for biotech and tech companies with this project, especially with its 2MW high-performance computing center, which will be leased out to third-party users. Other features of the project include street-level retail, co-working space for startups, a member's club with amenities similar to an airline club, and a technolgy showcase center featuring the latest innovations. Tech's site is bounded by Spring, West Peachtree and 4th streets as well as Armstead Place. According to docs, it's looking to engage a developer on a ground lease of at least 60 years.
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