Rubenstein Partners Inks 130 KSF Office Lease in Atlanta – What is a Ground Lease?

, Rubenstein Partners Inks 130 KSF Office Lease in Atlanta – What is a Ground Lease?, Robert Khodadadian
Uptown Atlanta. All images courtesy of Rubenstein PartnersUptown AtlantaUptown AtlantaUptown Atlanta

MARTA’s Capital Programs, Expansion and Innovation Group has signed a 130,000-square-foot office lease at Uptown Atlanta, the 1.1 million-square-foot mixed-use destination owned by Rubenstein Partners. MARTA’s division will relocate from 2400 Piedmont Road to occupy four full floors within Uptown’s East Tower, intending to move up to 540 employees to the new location. 

Once established at its new headquarters, CPEI Group will focus on Clifton Corridor Transit Initiative, a project that will provide a connection between Uptown and other major employment and healthcare hubs in the area. 

In another recent leasing deal, Rubenstein signed Mindspace as a tenant at a 511,161-square-foot office building in New York City. The global boutique flex office space provider entered into a 10-year agreement for more than 37,000 square feet.

A major transit-oriented property

Completed in 2002, Uptown Atlanta encompasses 1 million square feet of office space across two 14-story buildings, together with 100,000 square feet of ground retail and green space. The property is anchored by the Lindbergh Center MARTA Station and home to MARTA Headquarters.

Rubenstein acquired the asset in 2019 for $160 million, CommercialEdge shows, and is currently undertaking a property redevelopment process that is slated for completion this fall. The revamp included the complete transformation of the office atrium, a 35,000-square-foot space that features common-area amenities and gathering spaces.  

Situated at 500 Lindbergh Drive NE on a 3-acre lot, Uptown Atlanta is at the intersection of Buckead and Midtown, some 6 miles from downtown Atlanta. The transit-oriented property is connected to the city’s major pedestrian trails, such as the forthcoming PATH400, Atlanta BeltLine and the South Fork Trail.

 

The post Rubenstein Partners Inks 130 KSF Office Lease in Atlanta appeared first on Commercial Property Executive.

 Atlanta, Brokerage, News, Office, South, Capital improvement, Rubenstein Partners LP 

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