Manulife's Mixed-Use Plans

The real estate arm of John Hancock Life Insurance Co has thrown its hat in the ring as the latest developer to potentially move on an office-centric mixed-use development in Central Perimeter. (All these developers should do a Royal Rumble to decide who gets to develop the space.)

Manulife Financial filed plans with the Georgia Department of Community Affairs for a mixed-use project on 18-plus acres next to Ashford Green office building. The Development of Regional Impact plans calls for a 250k SF office building and two five-story apartment buildings totaling 500 units. In the document, Manulife is shooting for a 2025 timeframe for build-out. Calls to Manulife were not returned as of press time.

Manulife is among a growing number of developers eyeing new office developments in Central Perimeter, especially at a time when big blocks of space are scarce thanks in large part to State Farm. Among the players who could move forward with a new office tower include Ackerman & Co at its Abernathy 400 site and Hines Interests' 100 Northpark, a site off Abernathy Rd that could accommodate 1.5M SF of office. This, of course, is independent of the planned State Farm campus on the site off Perimeter Center Parkway next to the famed Chequers Seafood restaurant. But there are certainly tenants in the market who could kick off a new development, such as Intercontinental Hotel Group, which is already eyeing 100 Northpark and Seven Oaks' Perimeter Summit as an anchor to a new tower for its 275k SF HQ now at Three Ravinia Drive.