ATLANTA--(BUSINESS WIRE)--Columbia Property Trust, Inc. (NYSE:CXP) today announced that it has completed more than 92,000 square feet of leasing since November 2016 at One Glenlake Parkway, a 351,000-square-foot Class-A office building in Atlanta’s Central Perimeter submarket, to bring the building to 94% leased. Five new tenants are moving in with leases ranging from 3,000 square feet to more than 66,000 square feet.
This surge in leasing momentum was driven by the completion of a $3 million reimagining and modernization of One Glenlake, which is located just off Highway 400 adjacent to Newell Brands, Inc. and the new U.S. headquarters for Mercedes Benz. Built in 2003, the 14-story One Glenlake is now equipped with renovated common areas and high-end finishes, as well as a best-in-class package of tenant amenities.
Columbia partnered with design firm Indigo Collective and architecture and design firm Gensler to enhance the look and feel of the building and activate the ground level for use by tenants and their guests. With a vision to create meaningful spaces where employees can work outside their traditional offices, Columbia installed a communal table in the lobby and comfortable shaded outdoor seating options. Further blurring the lines between work and life, the enhanced lobby features floor-to-ceiling windows with abundant natural light, mid-century modern furniture, and locally curated art work, all of which provides the inviting feeling of a well-designed living room.
Columbia also invested in extensive upgrades to the building’s amenities, highlighted by a freshly designed café, Salt + Block, managed by Sterling Spoon, as well as a state-of-the-art conference center with catering kitchen and a well-appointed fitness center. This successful repositioning, paired with a desirable location and a comprehensive new marketing approach, is attracting strong interest in the remaining available space at One Glenlake and driving interest in Three Glenlake as well.
“Our repositioning of One Glenlake has raised the bar in the Central Perimeter area,” said Nelson Mills, president and CEO at Columbia Property Trust. “Working with Indigo Collective and Gensler, we’ve been able to create an innovative, best-in-market experience that has accelerated momentum and enabled us to reach our leasing goals for this building within only a few months of the project’s completion.”
For more information, including photos and availability, please visit http://www.oneglenlake.com.
About Columbia Property Trust
Columbia Property Trust (NYSE: CXP) owns and operates Class-A office buildings primarily in high-barrier-to-entry, primary markets. Our portfolio includes 16 operating properties containing eight million square feet, concentrated in New York, San Francisco, and Washington, D.C. Columbia carries an investment-grade rating from both Moody’s and Standard & Poor’s. For more information, please visit www.columbia.reit.
Certain statements contained in this press release other than historical facts may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in those acts. Such statements include, in particular, statements about our plans, strategies, anticipated dividends, and prospects and are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of our performance in future periods. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We make no representations or warranties (express or implied) about the accuracy of any such forward-looking statements contained in this press release, and we do not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Any such forward-looking statements are subject to risks, uncertainties, and other factors and are based on a number of assumptions involving judgments with respect to, among other things, future economic, competitive, and market conditions, all of which are difficult or impossible to predict accurately. To the extent that our assumptions differ from actual conditions, our ability to accurately anticipate results expressed in such forward-looking statements, including our ability to generate positive cash flow from operations, make distributions to stockholders, and maintain the value of our real estate properties, may be significantly hindered. See Item 1A in the Company’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2016, for a discussion of some of the risks and uncertainties that could cause actual results to differ materially from those presented in our forward-looking statements. The risk factors described in our Annual Report are not the only ones we face, but do represent those risks and uncertainties that we believe are material to us. Additional risks and uncertainties not currently known to us or that we currently deem immaterial may also harm our business.