Lincoln Property Company Southeast (Lincoln) has negotiated a new lease and six renewals totaling more than 48,000 square feet at Midtown Plaza in Atlanta. Lincoln’s Hunter Henritze and Michael Howell, senior vice presidents, and Caroline Fisher, vice president, represented the landlord.
“We are seeing many top-tier tenants reaffirm their commitments to Atlanta-area office space by renewing their leases, despite the challenges COVID raised for in-person work over the past two years,” said Lincoln’s Henritze. “Office space remains a critical tool in developing a strong company culture and recruiting and retaining top talent. Midtown has long been Atlanta’s hotspot for office leasing, and we are pleased with such outstanding activity at Midtown Plaza and are proud to play a role in these tenants’ continuing growth stories.”
Fortna, an end-to-end design-build firm delivering transformative, data-driven distribution solutions, expanded its existing lease at Two Midtown Plaza by 8,957 square feet for a total footprint of 23,636 square feet. Andrew Waguespack of Colliers represented the tenant. Abelian Partners, a practitioner consulting firm offering solutions to financial institutions, signed a new lease at One Midtown Plaza for 4,054 square feet of space. Matt Barnes of Savills represented the tenant.
Fortna’s expansion follows the company’s recent acquisition of Optricity, a warehouse optimization, analysis and performance improvement software company, in a strategic move to bolster its global presence and strengthen its offerings for clients. Fortna’s Midtown Plaza office serves as the company’s global headquarters, accommodating both Fortna and Optricity’s expanding team of experts, and includes collaborative workspaces and a demo center.
Lincoln has also secured six renewals at Midtown Plaza in addition to this deal, including:
Booz Allen Hamilton, a consulting firm, renewed its 8,360-square-foot lease. RJ Zurak & Chris Stelling of CBRE represented the tenant.
Fulcrum Loan Holdings LLC renewed its 4,311-square-foot lease. Ryan Cone of Cone Commercial represented the tenant.
Marks & Williams, a law firm specializing in commercial, residential and business law, renewed its 3,200-square-foot lease. Russ Jobson at Colliers represented the tenant.
Haddow & Company, a real estate consulting firm, renewed its 1,905-square foot lease. Dale Lewis at CBRE represented the tenant.
WestEd, a San Francisco-based nonprofit, renewed its 2,737-square foot lease.
Midtown Plaza is a two-building, 506,108-square-foot office complex situated within one of Atlanta’s most urbanized and dynamic submarkets. Located on Atlanta’s prestigious Peachtree Street, the property offers a variety of on-site amenities including a high-end conference center, a fitness center, a full service cafe, a tenant lounge bank, EV charging stations, two interconnected parking garages and direct access to the Arts Center MARTA station.
According to a Q4 2021 research report by Lincoln, Atlanta’s Midtown submarket absorbed a total of 556,701 square feet, making it only one of two major submarkets in the city to finish with positive net absorption. Midtown currently has the most space under construction of any Atlanta submarket with 1,619,035 square feet worth of construction, and is at the top of the market for asking rents with an average rate of $40.64. Its vacancy rate has also continued to decline throughout 2021, falling by 0.4% in the fourth quarter to finish off the year at 22.7%.