Tech Firm Relocating Headquarters To New City's Fourth Ward

An Atlanta data security software company is relocating from Sandy Springs to a new office project off the Atlanta BeltLine Eastside Trail.

OneTrust inked a 75K SF lease at Fourth Ward off North Avenue and Ralph McGill Boulevard, where the first phase of the four-building mixed-use campus is nearly complete.

OneTrust will move its headquarters from Northpark Town Center in Sandy Springs, where it leases 124K SF, according to Avison Young, in early 2025, New City President Jim Irwin confirmed to Bisnow. It is taking nearly all of the remaining space at the 513K SF, two-building office component.

“We have a company that is poised for incredible growth and understood that they needed to find a location and caliber of project that would align with the culture of their company,” Irwin said. “It’s a recruitment and retention story.”

Savills Vice Chairman David Rubenstein represented OneTrust, while Cushman & Wakefield Vice Chair Aileen Almassy represented New City in the negotiations. 

While downsizing its footprint with the move, OneTrust is heading to a submarket “where people are excited to live, work and gather as a community,” OneTrust CEO Kabir Barday told Bisnow in an email.

“We’re proud to showcase the best of this city to our customers, partners and team members who come to visit,” he said.

OneTrust provides software to assist in privacy, security and data governance. It was founded in 2016 and grew to tech unicorn status, raising more than $900M in total venture capital, including more than $500M in a Series C round that valued the company at more than $5B. It counts SoftBank's Vision Fund II and Franklin Templeton among its investors, Reuters reported.

OneTrust brings the first phase of Fourth Ward to 98% occupancy as New City puts on the finishing touches. The first phase of the project also includes street-level retail, the 359-unit Overline Residences apartment building that opened earlier this year and a 157-room boutique hotel that is scheduled to open in May.

Located on the edge of the popular Old Fourth Ward neighborhood in Midtown, the roughly $1B Fourth Ward project overlooks Historic Fourth Ward Park and sits just south of Ponce City Market.

New City launched construction in 2020 with Mailchimp pre-leasing 300K SF for its headquarters, which is set to officially open in January.

Advertising and PR conglomerate WPP took 39K SF at the end of last year and already operates out of the project, Irwin said. Coworking giant Industrious manages a 28K SF spread at the project, a deal that was consummated this past May.

Irwin said New City is poised for the second phase of Fourth Ward, which will involve another 380K SF of office space. New City hasn't broken ground on that phase, nor has it refinanced its construction loan for the first phase, but Irwin didn't dismiss the idea of starting construction on spec.

“The first phase of the project is coming at a unique moment. Really, it’s been a year of proving our thesis” that companies will pay top-of-market rent to be in the hottest submarkets and newest buildings in Metro Atlanta, he said.

“Imagine you enjoyed where you worked every day and looked forward to coming in. That’s what it’s ultimately about.”