Another tenant becomes official in one of Atlanta's first multi-tenant office buildings since the Great Recession.
Delta Community Credit Union inked a 79k SF lease with Riverwood 200, which comes on the heels of pre-leases with both Bennett Thrasher and Holder Construction. Cobbled together, the yet-to-be-developed Riverwood 200 is now 66% leased. It's good news for Seven Oaks Properties' Bob Voyles (here with Childress Klein's Connie Engel), who shared the news before a crowd of more than 300 this morning at our Future of Cumberland event at 400 Galleria Pkwy.
The deal consummates what we first reported here and here. Delta Community's lease also comes on the heels of it selling its existing 78k SF facility at 1025 Virginia Ave near Hartsfield-Jackson Atlanta International Airport for $13M to Gladstone Commercial Corp. Delta Community CEO Hank Halter says the new development will allow the credit union to consolidate administrative functions into a single HQ. The 12-story tower, slated to deliver in 2017, is being developed in a JV with Seven Oaks and Highwoods Properties, and is one of the first office projects out of the ground since the recession that isn't a build-to-suit. The deal was brokered by DTZ's Kirk Diamond, April Parrish and Erin Smith, Highwoods' Jim Bacchetta and Mike Wells, and Seven Oaks' Randy Holmes.
