Piedmont Healthcare Slashes Office Footprint In Move To Midtown
One of Georgia's largest healthcare systems is relocating its offices from Cobb County to Midtown in a major consolidation effort.
Piedmont Healthcare has signed a 164K SF lease with Lionstone Investments for office space at 271 17th St., according to a press release.
The hospital system is consolidating three of its offices in the space at the 25-story, 737K SF tower in the Atlantic Station project, it said in a statement Monday. The deal is the largest office lease in Atlanta this year and the second-largest in the region behind Manhattan Associates’ 210K SF renewal at Wildwood Center in Cobb County.
“Our new ‘System Support Center’ will consolidate three locations into one, improving work efficiencies and reducing our administrative footprint by more than 50 percent,” a Piedmont spokesperson said in a statement. “We have been assessing and planning for a more efficient and consolidated space overall the past several years. This new location provides our organization with a better place for working together more efficiently and effectively.”
Piedmont, which operates five of the 25 largest hospitals in Georgia, occupies 235K SF at the Paces West office property in Vinings in a lease that is set to expire in June 2025, according to data from Avison Young.
The owner of Paces West, CP Group, didn't return calls seeking comment.
Piedmont is also moving workers out of its offices at Piedmont West off Howell Mill Road and 2001 Peachtree St., across from the Piedmont Atlanta campus.
“[Piedmont’s] lease is evidence that while the broader market is weak, office demand is concentrating into specific buildings in micro-geographies that are still growing,” Dan Dubrowski, chairman and co-founder of Lionstone Investments, said in a statement.
As it is at Paces West, Piedmont's name and logo will be emblazoned atop 271 17th St., which overlooks the Interstate 75/85 connector through the city, according to a rendering provided to Bisnow.
Cushman & Wakefield Vice Chairman Aileen Almassy and Senior Director John Zintak represented Lionstone in the lease. Savills Vice Chairmen Bo Keatley, David Rubenstein, John Flack and Corporate Managing Director Michael Broome represented Piedmont.
