April 19, 2024

Construction Goes Vertical at Jamestown’s Mass-Timber Office Project in Atlanta – What is a Ground Lease?

By Mar2,2023
Construction Goes Vertical at Jamestown’s Mass-Timber Office Project in Atlanta – What is a Ground Lease?, Robert Khodadadian
Construction Goes Vertical at Jamestown’s Mass-Timber Office Project in Atlanta - What is a Ground Lease? <!-- wp:html --><div class="wp-caption alignright"><a href="https://www.commercialsearch.com/news/wp-content/uploads/sites/46/2023/03/ponce-city-market-20230227-e1677674778762.jpg" target="_blank" rel="noopener"></a> <p class="wp-caption-text"><em>Rendering of 619 Ponce. Image courtesy of Jamestown Properties</em></p> </div> <p><strong>Jamestown Properties</strong> has started vertical construction on 619 Ponce, an office project totaling 110,000 square feet, part of the next phase at Ponce City Market in Atlanta. Upon completion, 619 Ponce will be a mass timber, four-story building, encompassing 85,000 square feet of office space and 25,000 square feet of retail space.</p> <p>Located at 619 Ponce de Leon Ave. NE, 619 Ponce is being built using locally sourced timber, with beams and columns made from yellow pine sawtimber. Designed by <strong>Handel</strong> <strong>Architects</strong>, the project is slated to include medical capabilities, daycare, bike storage, access to Ponce City Market’s rooftop area, outdoor space on every floor and floor-to-ceiling windows. The upcoming office building is targeting net neutral operational carbon, LEED Core and Shell certification, as well as Fitwel certification.</p> <p>Plans for this next phase of the Ponce City Market project also call for a flexible-stay hospitality living building with 405 units and a senior housing multifamily component dubbed Signal House.</p> <p><strong>READ ALSO</strong>: <a href="https://www.commercialsearch.com/news/behind-the-rise-of-mass-timber-towers/">Behind the Rise of Mass Timber Towers</a></p> <h2>Building a community</h2> <p>Originally a distribution and warehouse property, Ponce City Market was built in the 1920s, and underwent a massive renovation when Jamestown purchased the asset—formerly known as The Sears, Roebuck & Co. building—in 2011. The historical structure reopened in 2015, featuring 550,000 square feet of Class A office space, 300,000 square feet of retail and dining space, and 259 residential units spread across nine floors. Today, Ponce City Market is home to 90 businesses, with tenants including <span>Athenahealth, Nike, Mailchimp, Industrious and others, according to CommercialEdge. </span></p> <p>The new development in expected to bring over 550 long-term jobs to the Old Fourth Ward community. When fully completed, Ponce City Market is anticipated to house nearly 100 companies, with more than 5,750 employees and roughly 800 residential units.</p> <p>Last year, Jamestown began work on another massive redevelopment project: One Times Square. The <a href="https://www.commercialsearch.com/news/jamestown-to-redevelop-one-times-square-for-500m/">$500 million project</a> will modernize the 118-year-old building as a 21st-century visitor center for New York City.</p> <p>The post <a href="https://www.commercialsearch.com/news/construction-goes-vertical-at-jamestowns-mass-timber-office-project-in-atlanta/">Construction Goes Vertical at Jamestown’s Mass-Timber Office Project in Atlanta</a> appeared first on <a href="https://www.commercialsearch.com/news">Commercial Property Executive</a>.</p> <p>  Atlanta, Development, Mixed Use, News, Office, South, Sustainability, Fitwel, Handel Architects, Jamestown Properties, LEED </p> <p>ground lease, ground leases, net lease, ground leases 101, ground lease nyc, skyline properties, skyline properties nyc, Robert Khodadadian, investment sales, broker, commercial real estate, skyline properties, commercial real estate, NYC real estate, ground lease, Skyline Properties, Skyline NYC, Skyline Properties NYC, New York City Real Estate, ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties, NYC Real Estate, Real estate investment, commercial real estate, robert khodadadian, skyline properties, ground lease, net lease, investment sales, brokerage, manhattan real estate, off market broker, daniel shirazi, Off-market real estate</p><!-- /wp:html --> The 110,000-square-foot development is part of the next phase at Ponce City Market. The post Construction Goes Vertical at Jamestown’s Mass-Timber Office Project in Atlanta appeared first on Commercial Property Executive. ground lease ground leases net lease ground leases 101 ground lease nyc skyline properties skyline properties nyc Robert Khodadadian investment sales broker commercial real estate NYC real estate Skyline NYC New York City Real Estate commercial buildings apartment buildings townhouses mixed use investment building mixed use user buildings live plus income buildings industrial properties Real estate investment brokerage manhattan real estate off market broker daniel shirazi Off-market real estate

Rendering of 619 Ponce. Image courtesy of Jamestown Properties

Jamestown Properties has started vertical construction on 619 Ponce, an office project totaling 110,000 square feet, part of the next phase at Ponce City Market in Atlanta. Upon completion, 619 Ponce will be a mass timber, four-story building, encompassing 85,000 square feet of office space and 25,000 square feet of retail space.

Located at 619 Ponce de Leon Ave. NE, 619 Ponce is being built using locally sourced timber, with beams and columns made from yellow pine sawtimber. Designed by Handel Architects, the project is slated to include medical capabilities, daycare, bike storage, access to Ponce City Market’s rooftop area, outdoor space on every floor and floor-to-ceiling windows. The upcoming office building is targeting net neutral operational carbon, LEED Core and Shell certification, as well as Fitwel certification.

Plans for this next phase of the Ponce City Market project also call for a flexible-stay hospitality living building with 405 units and a senior housing multifamily component dubbed Signal House.

READ ALSO: Behind the Rise of Mass Timber Towers

Building a community

Originally a distribution and warehouse property, Ponce City Market was built in the 1920s, and underwent a massive renovation when Jamestown purchased the asset—formerly known as The Sears, Roebuck & Co. building—in 2011. The historical structure reopened in 2015, featuring 550,000 square feet of Class A office space, 300,000 square feet of retail and dining space, and 259 residential units spread across nine floors. Today, Ponce City Market is home to 90 businesses, with tenants including Athenahealth, Nike, Mailchimp, Industrious and others, according to CommercialEdge. 

The new development in expected to bring over 550 long-term jobs to the Old Fourth Ward community. When fully completed, Ponce City Market is anticipated to house nearly 100 companies, with more than 5,750 employees and roughly 800 residential units.

Last year, Jamestown began work on another massive redevelopment project: One Times Square. The $500 million project will modernize the 118-year-old building as a 21st-century visitor center for New York City.

The post Construction Goes Vertical at Jamestown’s Mass-Timber Office Project in Atlanta appeared first on Commercial Property Executive.

 Atlanta, Development, Mixed Use, News, Office, South, Sustainability, Fitwel, Handel Architects, Jamestown Properties, LEED 

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