Southside Sees First New Class-A Office Since Porsche
The Southside Atlanta market is seeing its first new Class-A office building since Porsche parked next to the airport.
Grove Street Partners, in a joint venture with Batson-Cook Development Co., has broken ground on Gateway Center Two, a 51K SF office building that is part of the Gateway Center development.
The developers even snagged an anchor tenant: Philadelphia-based ECFMG — a nonprofit medical certification and training provider — inked a deal to occupy 24K SF in the new development, moving from elsewhere within the submarket.
Colliers International Atlanta Senior Vice President Lee Evans represented the developers while Cresa Managing Principals John Behm and principal Jim Byrd and Jason Jones represented the tenant.
The South Atlanta office market is among the tightest submarkets in all of Metro Atlanta, with a vacancy rate of just over 12%, according to Transwestern. It also ranks among the submarkets with the least amount of existing Class-A office space at just over 1M SF, which is just 9% vacant.
In 2015, Porsche Cars North America opened its $100M headquarters at Aerotropolis, complete with a test track.
This is Gateway Center's fifth major development on the campus that is connected to Hartsfield-Jackson Atlanta International Airport's SkyTrain commuter rail. Other developments at the site include the 128K SF Gateway Center One project, the recently completed Renaissance Hotel, Marriott Hotel and a SpringHill Suites Hotel.
