News
IBM SEARCH IS ON
November 1, 2016
| IBM has Atlanta atwitter today, in a good way. The mammoth tech company is starting to consider options that could lead to one of the largest speculative lease transactions in Atlanta since, well, the last mega-deal it did in the mid-1980s when it agreed to anchor the former IBM Tower in Midtown. |
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| IBM, which has more than 1.5M SF in metro Atlanta, hired CB vice chair John Shlesinger to help with the req, which is about half that. Rumors of the engagement have been happy hour conversation this month, and news finally broke today. Ironically, IBM?s move to more efficient space could lead to negative absorption. Its largest location is at the Hillside/Lakeside complex on Northside Parkway in northwest Atlanta, which it's had for 25 years, and a move would represent a monumental shift and leave the city with the equivalent of a large empty skyscraper, which Jamestown bought in late 2003 for $131 million. Jamestown has ample time to persuade IBM to expand the campus; IBM?s lease doesn?t expire till 2014 |
