The second building from two of Atlanta's most prolific developers is getting the go-ahead thanks to a major pre-lease.
Hines Interests and Cousins Properties have inked a deal with AXIS Capital Holdings Ltd. to occupy 76K SF for 15 years at the developers' planned 10000 Avalon office project, the sister building to 8000 Avalon that was a home run for the duo. AXIS will occupy three floors of the 251K SF Class-A building that will sprout up in the Avalon mixed-use project in Alpharetta, an affluent northern suburb of Metro Atlanta.
Hines and Cousins are expected to break ground this month with plans to deliver the $97M project by 2020, according to a Cousins press release. CBRE Vice Chairman Sam Holmes brokered the deal for AXIS.
This is a big boost for the second — and last — office building slated for Avalon, initially begun by North American Properties. Hines and Cousins secured a number of banner tenants for 8000 Avalon, including Microsoft, SAP, Crown Castle and the coworking operator Spaces, leading to that building being nearly fully leased when it was delivered last year.
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