Microsoft signs full-building lease in Atlanta

Microsoft signs full-building lease in Atlanta
Image: Courtesy of Hines

Microsoft Corporation has signed a lease agreement to occupy 523,000 square feet, the entirety of the two-building Atlantic Yards office property which is being developed by Hines and Invesco Real Estate in Atlanta.

Microsoft will create 1,500 new high-tech jobs in West Midtown, with occupancy targeted for summer 2021, said Hines in a statement.

Atlantic Yards will serve as a client-facing workplace and focus on artificial intelligence (AI) and cloud services. The buildings will offer such tenant amenities as an expansive courtyard, rooftop gardens, private balconies and open-air terraces, ideally suited for entertaining clients and recruiting top talent. Microsoft will also personalize the ground-level spaces at the buildings, which will serve as an experience opportunity to directly engage with customers.

“Even before we began construction on Atlantic Yards, we knew we had an opportunity to do something really special. West Midtown may have been underappreciated as an office market in the past, but it won’t be anymore,” said Hines Senior Managing Director John Heagy.

“Microsoft’s next generation of talent will be blocks away at Georgia Tech, and once they occupy Atlantic Yards, Microsoft will have unmatched access, retail and restaurant options and a working environment deliberately designed to foster creativity,” he added.

“We were delighted to partner and collaborate with Hines, who we believe is best in class, to design a differentiated office environment within the Atlantic Station/Midtown Atlanta submarket. We see Atlantic Yards as setting a new standard for excellence in the Atlanta office market, which is being validated by the tremendous response from the quick lease up of Atlantic Yards and T3 West Midtown by some of the most innovative tenants in America,” said Greg Kraus, Managing Director, Head of Acquisitions for Invesco Real Estate.

“With our JV partner Invesco Real Estate, we’re excited to continue to work with Microsoft as they customize a significant office presence outside of Redmond, Washington. We look forward to welcoming Microsoft and serving them in this brand-new, highly efficient and sustainable building,” said Hines Managing Director Tori Kerr.

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“We are proud to have represented Microsoft for this historic partnership,” stated T. Dallas Smith, CEO of T. Dallas Smith & Company. “Having a Fortune 25 company like Microsoft located in Atlantic Yards will provide tremendous value to our City, State and the entire Southeast region for years to come.”

Construction of Atlantic Yards recently topped out. PCCP, LLC is the construction lender for the project which Hines is expected to deliver late this year, with Microsoft planning to move in next summer.