Atlanta’s real estate market is seeing a momentous shift, serving as one of the best cities for remote working in the U.S. and providing attractive offices for large companies.
While the region still saw a downturn due to the pandemic, more and more companies are looking to attract top talent that have recently graduated from historically Black colleges and universities, as well as other prestigious schools in the area.
For instance, VISA just signed a lease to take up 123,000 square feet of space at Cousins Properties’ 1200 Peachtree building. The lease is expected to begin during the fourth quarter of 2022 and eventually add 1,000 jobs to the region over the next few years.
“We are excited to see a financial technology leader like VISA focused on creating an exciting office environment for in-person collaboration,” said Colin Connolly, president and CEO of Cousins. “Atlanta continues to attract large and growing companies recruiting new talent. The central location, proximity to renowned research institutions and accessibility that 1200 Peachtree offers is compelling for companies interested in the Midtown submarket.”
Other major technology companies have also entered the market in recent months. For instance, Microsoft announced it would be taking up 523,000 square feet at Hines’ Atlantic Yards project last summer.
“Atlanta has a rich culture and history of innovation, making it a unique place for tech growth,” said Terrell Cox, general manager at Microsoft.