JTEC Energy Relocates HQ to Atlanta Mixed-Use Building – What is a Ground Lease?

, JTEC Energy Relocates HQ to Atlanta Mixed-Use Building – What is a Ground Lease?, Robert Khodadadian

Lee + White Building 1050. Image courtesy of Ackerman & Co.

Ackerman & Co. and MDH Partners have secured a new tenant at their Lee + White development in Atlanta. Renewable energy provider JTEC Energy signed an 18,755-square-foot lease at the 442,562-square-foot adaptive reuse property, where it will relocate its headquarters. Lee & Associates worked on behalf of the new tenant, while Cushman & Wakefield represented the landlords in the leasing negotiations.

JTEC is set to move in late in the second quarter of 2023, bringing approximately 30 employees at Lee + White. The company’s customized lab and office space will be situated in Building 1050. Nanotechnology company Carbice is also a tenant in the same building.

Lee + White is located at 933 Lee St. S.W., close to interstates 20, 75, 85 and 285. The property is 2.7 miles from downtown Atlanta and within 9 miles of Hartsfield-Jackson Atlanta International Airport.

An emerging mixed-use destination

Situated in Atlanta’s West End neighborhood, Lee + White is an 11-building asset that the current owners purchased in 2019 for $40.4 million, CommercialEdge data shows. Known as West End’s Warehouse Row, the mixed-use destination is slated to include 200,000 square feet of office spaces, a new retail component, a food hall and a common-area and event space called the Great Lawn, in the first phase of the redevelopment. The new food hall is expected to open early next year and Ackerman Retail’s Kelly Wilson already secured leases with retail vendors, restaurants, and others. The redevelopment is also set to include five more retailers that will occupy shipping containers in a container village.

Cushman & Wakefield’s Senior Director Porter Henrize and Associate Melanie Garlock represented the ownership in the lease negotiations. Lee & Associates Director Cori Nuttall and Associate Willie Candler worked on behalf of JTEC.

Mixed-use developments are increasingly popular around the country. Earlier this year, Convexity Properties secured a $125 million loan for 5 City Blvd, a 15-story, 378,000-square-foot Class A mixed-use office and retail project in Nashville, Tenn., that is expected to be completed in late 2024.

The post JTEC Energy Relocates HQ to Atlanta Mixed-Use Building appeared first on Commercial Property Executive.

 Atlanta, Brokerage, Mixed Use, News, South, Ackerman & Company, Cushman & Wakefield, Lee & Associates, MDH Partners 

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