Lincoln Property Company Southeast Negotiates Lease Renewal and Expansion at Central Perimeter Office Building
ATLANTA (Aug. 19, 2022) – Lincoln Property Company Southeast (Lincoln) has secured a lease expansion and renewal at 50 Glenlake, a 143,000-square-foot office complex located in Atlanta’s Central Perimeter submarket. Lincoln’s Matt Fergus, Michael Howell and Seabie Hickson represented the landlord in the transaction.
Resilia Pharmaceuticals Inc., a privately held specialty pharmaceuticals company based out of Atlanta, signed to expand its lease from 2,203 square feet to 6,143 square feet of space. Austin Miller of RG Real Estate represented the tenant. Also at 50 Glenlake, Atlanta-based financial data and analytics provider FI Navigator Corporation signed a renewal on its 2,401-square-foot lease.
“These signings underscore the positive leasing momentum we have seen recently in Central Perimeter as more companies return to the office, with Class-A buildings such as 50 Glenlake attracting and retaining tenants at higher rates,” said Lincoln’s Hickson. “The complex is currently undergoing a significant transformation that will introduce a new state-of-the-art lobby and modernized amenities, and we look forward to seeing how this property will continue to evolve to meet the needs of top-tier tenants.”
The building’s owner, B Group Capital Management, is currently overseeing major renovations to the property, including building out all new corridors, renovating the lobby with a new customer lounge and providing outdoor seating by the café for tenants. The elevators and restrooms on site will also be upgraded.
Located on Glenlake Parkway, 50 Glenlake has available office spaces ranging in size from 2,486 square feet to 10,794 square feet. Set inside a beautifully landscaped property, 50 Glenlake has a strengthening amenity base, including an on-site cafe, conference and fitness centers, bike storage and covered parking. The six-story office building also offers convenient access to the MARTA bus line, hotels, shopping and dining at the nearby Perimeter Mall and close proximity to Georgia 400.
The Central Perimeter submarket remains a dynamic office hub in Metro Atlanta, with conditions on the rebound as companies move forward with return-to-office plans. According to a Q2 2022 report from Lincoln, the Central Perimeter’s office vacancy decreased to 23.9% last quarter.