North American Properties (NAP) today announced Jones Day will fully occupy the office component at Building 500, the 135,600-square-foot building at the corner of 15th and Peachtree Streets. The first floor of the six-story building will feature a lobby for Jones Day and retail space.
Out of the current speculative office pipeline in Atlanta, Building 500 is the first to be 100% leased before putting a shovel in the ground. The planned speculative building has since become a build-to-suit project to cater to Jones Day’s specifications. Below grade work on the building begins this summer, with vertical construction commencing in March 2020.
“It’s no longer about having a sumptuous wood-paneled lobby and big corner offices inside the building, it’s now about technology, efficiency and a differentiating factor, where partners and associates find themselves when they step outside,” said Mark Toro, Managing Partner at NAP. “There is immeasurable value in people with different backgrounds, beliefs and skills communing.”
Jones Day joins the mass of office users relocating to mixed-use environments that offer a highly amenitized experience to engage their guests as well as recruit and retain top talent. The internationally recognized law firm will design a custom workplace experience with a more efficient floor plan than offices of the past. It will also include an expansive terrace on the 4th and 5th floors overlooking Peachtree Street.
“Designing a modern workspace that provides a more efficient design by using the latest technology to elevate the experience for our clients and promote collaboration among our lawyers and staff is paramount to our ability to continue to deliver service that our clients expect,” said Aldo LaFiandra, Partner-in-Charge of the Jones Day Atlanta office. “Of course, another significant factor to our decision is the prospect of being in the mixed-use environment at Colony Square. The restaurants, retailers and entertainment at the Midtown destination in addition to public transportation access, proximity to Piedmont Park, and concentration of arts at the Woodruff Arts Center will provide an excellent work environment for our lawyers and staff. This, together with our modern workspace, will allow us to continue to attract the best and brightest.”
Jones Day will move approximately 250 employees to Building 500 in Summer 2021. With nearly 2,700 office workers at the existing office towers, Buildings 100 and 400, and an additional 300 expected at Building 300, the reimagined Colony Square will host an estimated 3,250 daytime workers upon completion. In addition to Jones Day, Whole Foods Market will anchor the new 87,500-square-foot Building 300 currently underway.
Cushman & Wakefield’s Senior Director Andy Sumlin, Director Sonia Winfield and Director Laura Power represented North American Properties. Savills’ Vice Chairman, Director and Southeast Region Lead Chris White, Executive Managing Director John Flack, Executive Managing Director Bo Keatley, Executive Managing Director David Rubenstein and Director Bryan Boyd represented Jones Day. ASD|SKY will lead the design of Jones Day’s new space.
“There is incredible momentum in Midtown with a lot of new speculative office coming online,” said Sumlin. “Colony Square’s aptitude to attract such a high-profile tenant roster while also impacting the community through a mix of one-of-a-kind offerings signifies the destination’s ability to transform Midtown once again, similar to its influence on the neighborhood in the 1970s. We attribute this to the energy and ‘hang out’ factor NAP has created at Colony Square. We can’t wait to see this forward-thinking global law firm join the community’s exceptional talent pool.”
NAP also recently announced a series of restaurant signings, including Sukoshi, a grab-and-go sushi bar inspired by sister restaurant O-Ku by famed restaurateur Steve Palmer (opening this summer); Rumi’s Kitchen, a local favorite for Persian cuisine by acclaimed chef Ali Mesghali (opening May 2020); and Freshii, a fast-casual, affordable and healthy eatery (opening this summer). Anchor tenants include IPIC, a first-to-market, luxury dine-in movie theater, and Main & Main, a 25,000-square-foot food hall overlooking The Grove, a shady pocket park fronting 14th Street. Both anchors will open in May 2020.