A Fortune 500 car dealer is moving its headquarters from Duluth to Sandy Springs.
)
Asbury Automotive Group is under contract to purchase the former Newell Brands’ headquarters in Central Perimeter from the container and pen maker with plans to move its 350 employees into the 98K SF building next summer, the City of Sandy Springs announced Wednesday.
Asbury, one of the largest car dealers with 150 locations in the U.S., is expected to close on the purchase of 6655 Peachtree Dunwoody Road in the next 30 days, according to the city. It is currently headquartered at 2905 Premiere Parkway in Duluth, a two-building, 81K SF office campus owned by TerraCap Management.
“This is an exciting change for the team and will afford our current and future employees many benefits, both in the building itself and conveniences in the surrounding community,” Asbury CEO David Hult said in a statement.
As part of the deal, Sandy Springs plans to waive building permit fees and occupational taxes for three years, an incentive package worth more than $254K, according to the city. Asbury joins a handful of other Fortune 500 companies in Sandy Springs, including Intercontinental Exchange, Veritiv Corp. and UPS.
Earlier this year, Newell — the maker of Sharpie pens and Rubbermaid containers — vacated the building to move to 180K SF of leased space at Concourse Corporate Center’s Queen Building for its new headquarters.
Cushman & Wakefield Executive Managing Director Kirk Diamond, Executive Director April Parrish, Senior Managing Director Joe Garvey, Managing Director Erin Smith and Senior Manager Steven Taylor are brokering the sale for Newell.
“We are very excited to welcome the Asbury Automotive Group to Sandy Springs,” Sandy Springs Mayor Rusty Paul said in the release. “Asbury will bring 350 new jobs to our City, adding high-quality employment opportunities and significant economic impact to our community.”
)
)
)
)
)
)
)
)
)
)
)
)