SKCR Sees Active Leasing Season for First Half of 2022
The Atlanta office market is on the rebound. It might be a slow process but we are seeing more companies return to the office as the world continues to move on from the pandemic, with healthy leasing conditions now evident in all corners of the city. The first quarter showed positive signs for office, and suburban submarkets outpaced urban areas in leasing activity as the slow shift continues away from the Midtown and Buckhead hubs.
Our brokers have been particularly active at SKCR, securing deals in nearly every submarket across both Metro Atlanta and the broader Southeast region. Momentum pushes forward as we enter the second half of 2022, and we are taking some time to reflect on our wins from the first six months of the year.
In Q1, we continued the leasing growth we saw in late 2021 with a round of new leasing victories from our team of seasoned brokerage professionals. Some of the highlights include:
- Tom Kirbo, Furman Wood and Jeb Gordon led the execution of a 90,000-square-foot flex space lease in Alpharetta, representing the landlord in the transaction.
- Jeb Gordon and Tom Parker represented the tenant in a 100,000-square-foot industrial lease, also in Alpharetta.
- In Dallas, Texas, John Poulos worked with Atlanta-based client Professional DataSource, Inc. to downsize the space it inherited after an acquisition at International Plaza III from 55,000 square feet to 45,000 square feet, securing a negotiated lowered rent and a 5-year extension as well.
Q2 proved to be equally as active, with nearly 200,000 square feet in total deals across the metro region:
- Stewart Wallace and John Poulos executive a 35,133-square-foot lease with The Atlanta Pickleball Center at 1359 Ellsworth Industrial Blvd in Atlanta.
- At The Commons at Lake Hearn in Central Perimeter, Daniel Topping, Furman Wood and Scott Martin secured a 5,011-square-foot, five-year renewal with Northside Imaging. The same team also locked in a 6,451-square-foot lease with D4C Dental Brands at The Commons at Lake Hearn, which recently underwent major renovations to become one of the premier medical office buildings in the submarket.
- Daniel Topping and Jeb Gordon brokered the purchase of a 24,000-square-foot industrial warehouse in Smyrna. The same duo also secured a 12,139, five-year industrial lease in Atlanta with Juneau Construction, serving as the tenant rep.
- In Smyrna, Keith Guthrie and Jeb Gordon secured a 23,000-square-foot industrial sale with Beko Technologies Corporation.
- Daniel Topping served as the tenant rep in Growth Strategies Group’s 1,967-square-foot lease at 5871 Glenridge Dr in Atlanta and Critical Components’ 2,019-square-foot lease in Charlotte, North Carolina.
- Furman Wood and Daniel Topping oversaw a full-floor, 88,000-square-foot lease at 5925 Cabot Parkway in Alpharetta.
- At Crestwood Pointe I in Duluth, Scott Martin and Tom Parker inked a 1,500-square-foot lease with S&D Oil.
Despite challenging economic headwinds, we are optimistic about the remainder of the year as businesses across the region continue to renew and expand their leases and look for new space to move into. Our team remains exceptionally busy, with major projects on the horizon including a recently announced transformative renovation for 900 Circle 75 and a new multifamily building, The Henry, near The Battery in Cobb County. To keep up with our team and learn more about our ongoing projects, visit www.skcr.com and follow us on LinkedIn.