Pharma Giant To Open First Atlanta Office In New Tower Over Luxury Mall
The company that makes Botox is planting a flag in Buckhead with a new office at One Phipps Plaza.
Chicago-based AbbVie is launching an expansion into Atlanta at the 13-story, 365K SF One Phipps Plaza in Buckhead, sources familiar with the transaction tell Bisnow.
The Fortune 100 pharmaceutical company has signed a 20K SF lease at the office component of Simon Property Group’s Phipps Plaza redevelopment.
Sara Barnes, the market intelligence manager for Avison Young, also confirmed the deal, signed in May, from the firm’s database. Avison Young wasn't involved in the deal.
CBRE Executive Vice Presidents Jeff Keppen and Chris Port and Senior Vice President Nicole Goldsmith represented Simon in the deal. Representatives for Simon, AbbVie and CBRE didn't return calls seeking comment.
At One Phipps Plaza, which opened less than two years ago, AbbVie joins Novelis, which relocated its headquarters from Two Alliance Center nearby, as well as Goldman Sachs and Resurgens Technology Partners, according to a CoStar report obtained by Bisnow.
The tower is nearly half leased, according to CoStar.
Simon added the office, a Nobu hotel and a multistory Life Time Fitness facility to the mall over the past few years.
AbbVie reported total assets of more than $11.7B last year and last week announced a plan to acquire Celsius Therapeutics, which is developing a medicine to treat inflammatory bowel disease, for $250M, BioPharma Dive reported. The company also announced it received Food and Drug Administration approval to expand the use of its drug Epkinly, co-developed with Genmab, to treat follicular lymphoma.
It was unclear as of publication what operations AbbVie would house at One Phipps Plaza.
