May 21, 2019 – CBRE Global Investors announced today it signed a long-term lease with coworking giant Spaces at The Collective at Concourse, an iconic group of Class A office buildings located in Atlanta’s Central Perimeter market. The 40,000-square-foot deal, which includes the entire eighth floor as well as conference space in the lobby in Building I, will become Spaces’ sixth location in metro Atlanta. The firm is expected to complete its build-out in November of this year.
“We are thrilled that Spaces has chosen to plant its flag at The Collective at Concourse, which presents the ideal environment for one of the nation’s fastest-growing coworking brands,” said Stu Sziklas, Senior Managing Director at CBRE Global Investors. “CBRE Global Investors’ proven formula of community-driven physical space, hospitality services and special events helps tenants attract and retain top talent and will enable Spaces to create a dynamic workplace environment that is customized to the needs of each member company. We look forward to partnering with Spaces on creating memorable experiences that drive bottom-line results and long-term growth.”
The owner was represented by Jeff Keppen and Nicole Goldsmith of CBRE. Brannan Moss and Shad Rounds of Jones Lang Lasalle represented the tenant.
Totaling 751,093 square feet, the three mid-rise office buildings known as Concourse Buildings I, II and IV are undergoing an extensive $6 million capital improvement project to transform the property into a creative and collaborative work environment. The newly energized campus will include revamped atrium-style lobbies with abundant collaboration spaces, natural light and new conference centers, a new greenspace for community events and highly visible signage opportunities.
Located on a 63-acre park with stunning lakeside views, the property features a 4-star Westin Hotel, The Concourse Athletic Club, two miles of walking and biking trails, lakeside patio seating and numerous restaurants and cafes. Round-the-clock shuttles are available for workers going to and from The Collective at Concourse to the nearby Dunwoody and Sandy Springs MARTA stations.
“The Collective at Concourse presented distinct advantages that simply could not be replicated elsewhere in the market,” said Michael Beretta at Spaces. “The accessibility within a walkable urban-suburban environment with acres of green spaces and numerous on-site amenities will allow us to attract top companies from across the region and appeals to the growing share of millennial workers who are choosing to plant roots in inner-ring suburbs. Concourse is the ideal location to launch the next chapter of our growth in metro Atlanta.”
Part of the IWG network of flexible workspace companies, Spaces has over 50 locations across the U.S. Spaces members at Concourse will be able to access more than 60 million secure Wi-Fi hotspots and more than 9,000 professional meeting spaces around the world through the IWG network.
CBRE Global Investors has leased more than 90,000 square feet of space since assuming ownership of The Collective at Concourse in November 2017. The buildings are currently 88% leased.