Columbia Property Trust Completes 47,000 Square Feet of Leasing at One Glenlake, Highlighted by Regus Renewal and Expansion

Columbia brings its entire Atlanta office portfolio to 100 percent leased

One Glenlake in Atlanta will become home to the next Atlanta Spaces co-working location. The recently renovated Central Perimeter office tower is now 100% leased to multiple tenants. (Photo: Business Wire)

???pagination.previous??? ???pagination.next???

ATLANTA--()--Columbia Property Trust, Inc. (NYSE: CXP) today announced that it has signed a lease renewal and expansion with Regus, one of the world’s largest providers of shared office space, to occupy 39,643 square feet at One Glenlake Parkway in Atlanta. This lease, together with an additional 7,141-square-foot lease also just signed for the single remaining available suite at the building, takes the recently renovated Central Perimeter office tower to 100 percent leased. With these agreements, Columbia’s entire, 1.7 million-square-foot Atlanta office portfolio, which also includes Three Glenlake and Lindbergh Center, is now 100 percent leased.

Under Regus’ 130-month lease, the company will remain in 26,720 square feet across the entire seventh floor and expand to an additional 12,923 square feet on a portion of the sixth floor. A tenant at the building since 2006, Regus will use the space to open the newest Atlanta location of Spaces, its full service, creative working environment that fosters a unique entrepreneurial spirit.

The Regus renewal and expansion was executed only a month after Columbia announced the completion of 92,000 square feet of leasing for five new tenants at the property, including a new 66,000-square-foot lease with healthcare technology provider Cotiviti. This surge in leasing was driven in part by the completion of Columbia’s approximately $3 million reimagining and modernization of One Glenlake, which included the renovation of common areas and installation of high-end finishes to enhance the building’s exclusive package of tenant amenities.

“Taking One Glenlake to 100% leased validates our efforts to create a best-in-class office environment, with high-end design, extensive amenities, and nontraditional collaborative areas,” said Nelson Mills, president and CEO at Columbia Property Trust. “These innovative upgrades created the perfect fit for Regus’ next Spaces location, while also attracting several other key tenants.”

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.

Forward-Looking Statements:
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.

Contacts

Columbia Property Trust, Inc.
Media Contact:
Bud Perrone, 212-843-8068
bperrone@rubenstein.com
or
Investor Relations Contact:
Matt Stover, 404-465-2227
IR@columbia.reit

Release Summary

Columbia Property Trust has signed 47,000 square feet of leases at One Glenlake Parkway in Atlanta, including a lease for the next Spaces co-working location, putting the building at 100% leased.

$Cashtags

Contacts

Columbia Property Trust, Inc.
Media Contact:
Bud Perrone, 212-843-8068
bperrone@rubenstein.com
or
Investor Relations Contact:
Matt Stover, 404-465-2227
IR@columbia.reit