Neighbor News
Global Business Signs Long-Term Lease on PTC Property
Lease on 55,000 square-foot building one of largest in metro Atlanta in 2015
Glenfield Capital today announced that it has signed a long-term lease with Concentrix Corp. for 55,000 square feet at 3795 Data Drive in Peachtree Corners. The building is part of the Lakeside at Spalding Triangle portfolio which Glenfield purchased in March of 2014.
“Successfully attracting a world-class tenant like Concentrix validates our belief that this is a desirable location and that the Lakeside property remains highly attractive to prospective tenants,” said James Cate, managing principal of Glenfield Capital.
Lakeside at Spalding Triangle is comprised of four office buildings with a total of 258,547 square feet of high-tech suburban office space. The 3795 building was formerly an Avaya call center and has substantial infrastructure already in place. It is one of the few buildings in the area with Georgia Power’s proprietary Hi-Reli system, underground wiring that provides redundancy and increased reliability in the power supply.
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“We are proud that a highly respected, successful global corporation like Concentrix chose Peachtree Corners as its metro Atlanta headquarters, and we are thrilled to welcome them to this innovative, growing and exciting community,” said Mike Mason, Mayor of the City of Peachtree Corners.
Clint Glover, vice president with CBRE and lead broker on the property since its development, represented Glenfield Capital in the transaction.
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“Concentrix is a perfect example of the high-quality caliber of tenants that Lakeside at Spalding Triangle attracts,” Glover said. “Glenfield’s deal-oriented approach to lease negotiations and its willingness to be flexible and creative in developing space solutions has helped maintain incredibly high occupancy rates.”
According to Costar first quarter 2015 data, the lease is one of the largest closed in metro Atlanta this year.
Glenfield Capital is an Atlanta, Ga. based private real estate investment company. Its principals have decades of real estate investment experience including more than $1 billion in advisory and principal activities. Glenfield’s current portfolio includes 800,000 square feet in the metro Atlanta area. The company evaluates numerous investment opportunities throughout the Southeast on an ongoing basis, including office, flex and industrial opportunities.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
About the City of Peachtree Corners
Gwinnett County’s newest and largest city, Peachtree Corners was founded July 1, 2012 and is located along the shores of the Chattahoochee River in the southwest corner of the county. The city is home to some 40,000 residents and over 2,300 businesses. City Hall is located at 147 Technology Parkway, Suite 200, Peachtree Corners, GA 30092.