Recent deal momentum signifies resilience in North Fulton market despite pandemic headwinds
Lincoln Property Company Southeast (Lincoln) has negotiated several new leases and significant lease expansions and extensions at the NorthWinds Office Park in Alpharetta, Georgia, totaling more than 90,000 square feet of space. Lincoln’s Hunter Henritze, Michael Howell, Caroline Fisher and Robert deGolian represented the landlord, The Brookdale Group.
“Though some uncertainty persists in the market at this new stage of the pandemic, this significant volume of deals represents another positive sign of growth toward recovery,” said Lincoln’s Henritze. “As one of the fastest-growing suburbs in the metro, Alpharetta has continually attracted some of the largest players looking to establish a presence in the area. We are pleased to have closed these noteworthy wins during the first half of the year and remain optimistic that the second half of the year holds many more successes for the Atlanta office market.”
Deposco extended and expanded its lease by 11,025 square feet, now leasing a total of more than 60,000 square feet in NorthWinds IV. Ryan Bowie with Icon Commercial represented the tenant. Deposco is a provider of cloud-based SaaS platforms that allow retailers, distributors, 3PLs and brand companies to allocate, source and fulfill customer orders across multiple channels all under one platform.
Other recent transactions include:
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Campbell & Brannon extended its lease of 17,425 square feet of space. Alan Joel of Joel & Granot represented the tenant.
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US Orthopedic Partners signed a new, 10,445-square-foot lease. Doug Wise with Cresa represented the tenant.
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Goldman Sachs expanded and extended into a 7,579-square-foot lease. Kirk Adams from Newmark represented the tenant.
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The Hanover Insurance Company signed a new deal for a 7,119-square-foot space. Chris Heller and April Parrish from Cushman & Wakefield represented the tenant.
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Homrich Berg signed a new deal for a 6,992-square-foot space.. Craig Goldberg of CBRE represented the tenant.
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Weissman P.C. extended its lease of a 6,991-square-foot space. Dan Granot with Joel & Granot represented the tenant.
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REP Perimeter Holdings extended its lease of a 6,803-square-foot space. Bubba Chrismer with Cresa represented the tenant.
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CBIZ signed an extension on its 6,514-square-foot space. Ben Cooper with CBIZ Gibraltar represented the tenant.
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Instant Financial extended and expanded its lease to occupy a total of 4,151 square feet. Ronnie Cannon of Wm. Leonard & Co. represented the tenant.
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Adair & Baker extended its lease of a 2,896-square-foot space. Jay Dowlen with CBRE represented the tenant.
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H Clay Moore & Associates Inc. signed a direct deal on a 2,762-square-foot spaceI.
NorthWinds is a premier office park featuring seven six-story, Class-A office buildings totaling 1.04 million square feet. The property offers a comprehensive on-site amenity package, including two hotels, two banks, nine restaurants, two complimentary fitness facilities, a daycare and learning facility and six free conference and training facilities. NorthWinds is located less than one mile from the award-winning mixed-use development Avalon, and also offers immediate access to GA-400 and other major transportation routes.
According to Lincoln’s Q4 2021 research report, Atlanta’s North Fulton submarket absorbed a total of 406,307 square feet and currently has 97,500 square feet of space under construction. The submarket posted a vacancy rate of 21.7% at the end of the year, with an average rent per square foot totaling $25.44. Companies in Atlanta signed new leases totaling 2.5 million square feet within the final three months of 2021, a sharp uptick from the previous year and a sign that the market is poised to continue recovering in 2022.
About Lincoln Property Company
Dallas-based Lincoln Property Company is one of the nation’s largest diversified commercial real estate companies, with over 8,550 employees and an international footprint that includes offices in 450 cities across the United States and two offices in Europe. Since its inception in 1965, Lincoln has developed over 239 million square feet of office, industrial, and retail projects as well as 216,000 apartment units. Stemming from its development and ownership background, Lincoln’s operating platform seamlessly integrates its various service lines, provides for consistent and measurable performance and utilizes cutting-edge technology over its 400+ million square feet of leased and managed assets. For more information on the Southeast Region of Lincoln Property Company, please visit lpcsoutheast.com
