Monday, July 30, 2018

Shorenstein Lands Trio of New Tenants at Bank of America Plaza in Atlanta, GA

Bank of America Plaza, Atlanta, GA

 ATLANTA, GA  July 30, 2018 – Shorenstein Properties LLC announced three notable lease signings today at Bank of America Plaza, a newly energized Class A office tower in Midtown Atlanta.

Christopher Caltabiano
 The 55-story tower, the tallest in the Southeast, recently underwent a $10 million renovation to the building’s West Wing that delivered an array of premier amenities, including state-of-the-art workspaces and a dynamic food hall featuring chef-driven concepts and healthy options.

Headlining the list of new tenants at Bank of America Plaza is Revel Systems, a San Francisco-based tech firm that transforms the way business is done across the globe by integrating all operations and customer channels, driven by the Point of Sale, into a single dashboard.

Jeff Keppen
 Revel signed a 25,547-square-foot full-floor lease on the building’s 38th floor and will move into upgraded, loft-style offices that are part of the tower’s expanding spec suite program. 

The owners were represented by Jeff Keppen and Nicole Goldsmith of CBRE. The tenants were represented by Christian Devlin of CBRE.

Outsized demand for the spec suites, which include open floor plans, creative lounge space and tech-enabled amenities, has spurred Shorenstein to accelerate development for the next block of spec suite space, which totals nearly 15,000 square feet and is expected to come online this fall. 

Also as part of the spec suite program, Shorenstein unveiled lease signings with Groundfloor (7,746 square feet), the first and only real estate lending marketplace open to non-accredited investors, and Florence Healthcare (4,106 square feet), a fast-growing company focused on improving clinical trial data flow to advance cures through software.

“Our thriving spec suite program has established Bank of America Plaza as a market leader in high-tech loft space that will attract the most sophisticated tenants from Atlanta and beyond,” said Christopher Caltabiano, Senior Vice President of Asset Management at Shorenstein Properties. 

Nicole Goldsmith
“The demand for these next generation workspaces also coincides with the roster of new dining, retail and entertainment destinations in close proximity to Bank of America Plaza, creating one of the most dynamic work environments in the U.S. 

"We welcome this impressive group of companies to the building, and look forward to providing an atmosphere that helps foster bottom-line results for our tenants.”

Gregory Dukat
The crown jewel of Atlanta’s skyline and one of the tallest buildings in the U.S., Bank of America Plaza is also home to leading tenants such as Anthem, Inc., Display Data, Featurespace and Riskalyze.

“Shorenstein’s forward-thinking approach has fueled the impressive transformation of Bank of America Plaza into a premier tech hub,” said Greg Dukat, CEO of Revel Systems, a feature rich Point of Sale and business platform. “The ability to access high-tech, move-in ready space in the heart of Atlanta was a key factor in our decision to open a new regional office here. 

"Mass transit, great restaurants and other top attractions are within an easy walk of the building and will provide Revel Systems a considerable advantage in recruiting top talent from across the area. We look forward to calling the building home for many years.”

As part of the recent West Wing renovation, Shorenstein debuted Marketplace 600, a 17,000-square-foot food hall that includes a “Chef’s Table” which showcases the skills of celebrity chefs who frequently visit the building. Marketplace 600 features a variety of food stations, including a salad bar, hot meal bar, grill station and dessert bar, and also offers cooking classes and digital order and pick-up through the Thrive mobile app.

Christian Devlin
The upgraded West Wing also features a new 4,000-square-foot conference and event center, along with a new Bank of America branch. Other on-site amenities include the 17,000-square-foot RPM Health Club & Spa that offers personal training, group classes and massages, and a full-service Starbucks in the main lobby.

Bank of America Plaza is directly adjacent to the North Avenue MARTA rail station, and offers immediate north and south access to Interstates 75 and 85. Mercedes-Benz Stadium, World of Coca-Cola, Ponce City Market and the Georgia Institute of Technology are all within close proximity to the building. 

More than 63 restaurants are also located within five blocks of Bank of America Plaza, including Publik Draft House, Edgar’s Proof & Provision, Baraonda Ristorante & Bar and Livingston. 

For more information, please contact:

Liana Moran
The Wilbert Group
770-905-9915 (C)

The Madison Sale Brings EverWest’s Phoenix Transaction Volume to $165 Million in 24 Months

The Madison Office Campus, Camelback Corridor, Phoenix, AZ
Amr Ceran
Phoenix, AZ – EverWest Real Estate Investors, in partnership with CenterSquare Investment Management, has completed the sale of The Madison, a Class A office campus located in the heart of Phoenix’s Camelback Corridor. 

The sale marks a $165 million, 24-month transaction and renovation push within metro Phoenix by the Denver-based real estate investment, management and operating company.
Kevin Shannon, CJ Osbrink, Paul Jones, Ken White, Brunson Howard and Rick Stumm of NKF Capital Markets represented EverWest and CenterSquare in the transaction.
Located at 5343 and 5353 N. 16th St., The Madison totals 177,312 square feet of Class A office space in two four-story buildings – both offering views of the surrounding skyline, Camelback Mountain and Piestewa Peak, and quick access to area amenities, including some of the Valley’s most sought-after shopping and dining destinations.

Kevin Shannon
Since purchasing The Madison, EverWest has completed an extensive repositioning program including renovations to lobbies, restrooms, conference facilities, monument signage and landscaping, and the addition of an on-site deli offering quick-serve lunch and dinner items.
“EverWest has executed on its business plan,” said EverWest Senior Director Amr Ceran, who manages the company’s Arizona and Southern California real estate portfolio, including investment, redevelopment and lease-up. 

“Our focus is on acquiring and renovating assets through extensive improvements and lease-up, with results that achieve – and often exceed – market rates.”
EverWest’s Phoenix activity over the past 24 months has included the sale of Great American Tower – a landmark downtown Phoenix high-rise office building that the company improved prior to sale, and the sale of 10 Chandler, a 553,000-square-foot flex/industrial building located in the Chandler Tech Corridor, fronting Interstate 10.

CJ Osbrink
In 2016. the company renovated The Circuit from a former semiconductor building into 185,000 square feet of creative office space. 

The same year it purchased and began efforts to transform The Quad from outmoded executive suites into a 14-building, 166,606-square-foot project that blends elements of a lifestyle center and office park to create a next-generation creative office community. 
In late 2017, EverWest completed the purchase of – and is currently renovating – Seville Professional Center, a two-story building totaling 92,581 square feet on North Scottsdale Road.
At The Madison, renovations and a successful lease-up plan has achieved 90 percent occupancy.
For more information, please contact:
Stacey Hershauer/FocusAZ