Greenstone's Encore Project Expanding Beyond Office
Greenstone Properties is offering another glimpse of its latest office hope in Cumberland/Galleria.
The firm exclusively sent us the latest imagery of 100 Encore Center, a 14-story, 350k SF office building right next door to the Cobb Energy Performing Arts Centre off Cobb Galleria Parkway, which fronts I-75 between Cumberland Boulevard and Akers Mill Road.
But Greenstone's Chris Scott says the project will be more than just the Class-A office building; plans also include a 250-room hotel, 35k SF of retail and a 50-unit condo project on the five-acre parcel.
Greenstone, fresh from its success leasing the 222k SF Encore Center at 3400 Cumberland Blvd to HD Supply, is seeing a potential pool of existing Cumberland-area tenants who may want to seek newer office digs, Chris says.
While Greenstone is not planning to go spec, Chris says the firm could pre-lease as little as 30% of the space to get the financing green light to begin construction.
“We feel real good about our possibilities to get this one out of the ground,” he says.
Greenstone isn't the only developer vying for a new mixed-use project near the arts center. As we first reported here, right next door Preferred Apartment Communities, led by Cobb County multifamily icon John Williams (here), is pushing forward on plans to rezone Galleria 75 Office Park to make way for 450k SF of improved offices, 600 apartment units and 45k SF of retail.
As we also first reported, longtime Atlanta developer George Morgan and his capital partner, Miami-based Morris Kaplan, are attempting to rezone nearly 19 acres of flat expanse off Cumberland Boulevard just south of Paces Ferry Road in Vinings to encompass 300 apartment units, 50 condos, 225 senior housing units, 200 age-restricted (meaning those 55 years old or older) apartment units, a 300-room hotel, a 101k SF grocery-anchored shopping center and a 100k SF office building.
