ATLANTA (FOX 5 Atlanta) - Business in the heart of Atlanta is booming. That’s according to Shorenstein Properties LLC, which announced Thursday its year-end summary for the Bank of America Plaza building in downtown Atlanta.
The San Francisco-based firm purchased the Southeast’s tallest skyscraper nearly two years ago and has since completed a $10 million renovation that has attracted several new companies to sign long-term leasing agreements for about 159,000 square feet of the 55-story complex.
Shorenstein said the renovations included the addition of high-tech spec suites with loft-style offices. This was a big factor in logistics software firm Flexport's decision to make the BOA Plaza its Atlanta home. Revel Systems, Buckley Beal LLP, Groundfloor, Florence Healthcare and Convoy were also among the companies that signed new leases. In addition, long-time tenant and international law firm Hunton Andrews Kurth extended their lease by 10 years.
Shorenstein Properties Senior Vice President of Asset Management Christopher Caltabiano said this is a good indicator of the economic health within the city.
“The recent improvements have breathed new life into the building and created a tech hub with future-ready workspace in the heart of the North Avenue Smart Corridor. Employers are consistently demonstrating a preference to set up shop near the areas where they need to recruit top talent, and we anticipate continued growth when the next batch of spec suites come online in early 2019,” Caltabiano was quoted as saying in a statement sent to FOX 5 News.
Caltabiano said they are proud to also continue to host both fast-growing tech firms such as Featurespace, GroSolutions, and Risalyze, as well as established legal and professional services firms like Troutman Sanders and Bank of America. He said the building plans to continue to court and hold a diverse portfolio of clientele.
“The energy in the building resulting from the capital improvements and emergence of new young companies has been incredible,” said Mark Elliott, a senior partner at Troutman Sanders.
But the tower isn’t all work. Shorenstein also upgraded the building’s West Wing, which houses a new 4,000 square-foot conference and event center, a 17,000 square-foot RPM Health Club and Spa, and Marketplace 600 which features a variety of food stations and a “Chef’s Table” showcasing the skills of visiting celebrity chefs.