Tech Firms Expanding In Deal To Anchor New Ponce City Market Office Building

Payroll technology firm Sage Software is anchoring a new mass timber office building Jamestown is developing at Ponce City Market.

Sage inked a lease for 57K SF at 619 Ponce, the 114K SF office component of the second phase of Ponce City Market in Atlanta's Old Fourth Ward neighborhood, the company announced in a press release.

"This move signifies our commitment to the city's growth and showcases our dedication to contributing to its thriving economy as a technology leader," Sage President Aziz Benmalek said in the release.

Sage plans to move next fall from its current office at 271 17th St., the 737K SF office tower in Atlantic Station, a little more than 3 miles north of Ponce City Market.

The software company, which also maintains an office presence in Lawrenceville, is the latest leasing victory for Atlanta-based Jamestown at 619 Ponce, which is being built using Georgia timber. In May, the landlord signed Pottery Barn to more than 18K SF in the retail portion of the building.

Sage is among a dwindling number of companies signing new office deals — overall leasing activity has slowed down due to economic anxieties and lower office usage. Other tenants signing leases recently include Zaxby’s, which inked a 51,500 SF deal at 2002 Perimeter Summit, and American Express, which leased 40K SF at Midtown Union in March.

In the original Ponce City Market building, Jamestown recently took back office space from Twitter after the social media giant failed to pay its rent, Bisnow previously reported. 

Along with 619 Ponce, Jamestown is developing two other buildings in the second phase of Ponce City Market, including a 405-room flexible-stay hotel and Signal House, a senior housing rental tower.