Both Atlanta and Northpark Town Center are getting a new Fortune 500 company. (When one of the kids gets a new toy, you have to get one for the others, too.)
Veritiv Corp is under LOI for 68k SF at Northpark, which is under contract with Cousins Properties for $348M, sources tell us. Cousins details in an SEC filing that it has an LOI with an unnamed tenant for that size at the three-building, 1.5M SF office complex in Sandy Springs. But officials did not comment on specifics. Sources say the company could announce this week that it plans to consolidate its corporate HQ into Atlanta following its spin-off from International Paper Co and merger with Unisource Worldwide.
Currently, Veritiv has duel HQ designation in both Atlanta and Loveland, Ohio. According to SEC filings, Veritiv does plan to keep the executive offices in Atlanta and continue to “maintain a significant presence” in both areas. With Unisource, the firm has 47k SF at 6600 Governors Lake Pkwy in Norcross (here). It's unclear as of press time if the company will remain there or will consolidate into Northpark, but a spokesperson for the company tells us they are in the market for office space. Cousins also declined to comment.
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