Ackerman & Co. and MDH Companions have secured a brand new tenant at their Lee + White improvement in Atlanta. Renewable vitality supplier JTEC Power signed an 18,755-square-foot lease on the 442,562-square-foot adaptive reuse property, the place it’ll relocate its headquarters. Lee & Associates labored on behalf of the brand new tenant, whereas Cushman & Wakefield represented the landlords within the leasing negotiations.
JTEC is ready to maneuver in late within the second quarter of 2023, bringing roughly 30 staff at Lee + White. The corporate’s custom-made lab and workplace house might be located in Constructing 1050. Nanotechnology firm Carbice can be a tenant in the identical constructing.
Lee + White is positioned at 933 Lee St. S.W., near interstates 20, 75, 85 and 285. The property is 2.7 miles from downtown Atlanta and inside 9 miles of Hartsfield-Jackson Atlanta Worldwide Airport.
An rising mixed-use vacation spot
Located in Atlanta’s West Finish neighborhood, Lee + White is an 11-building asset that the present house owners bought in 2019 for $40.4 million, CommercialEdge knowledge reveals. Generally known as West Finish’s Warehouse Row, the mixed-use vacation spot is slated to incorporate 200,000 sq. ft of workplace areas, a brand new retail part, a meals corridor and a common-area and occasion house known as the Nice Garden, within the first section of the redevelopment. The brand new meals corridor is predicted to open early subsequent yr and Ackerman Retail’s Kelly Wilson already secured leases with retail distributors, eating places, and others. The redevelopment can be set to incorporate 5 extra retailers that may occupy transport containers in a container village.
Cushman & Wakefield’s Senior Director Porter Henrize and Affiliate Melanie Garlock represented the possession within the lease negotiations. Lee & Associates Director Cori Nuttall and Affiliate Willie Candler labored on behalf of JTEC.
Combined-use developments are more and more standard across the nation. Earlier this yr, Convexity Properties secured a $125 million mortgage for five Metropolis Blvd, a 15-story, 378,000-square-foot Class A mixed-use workplace and retail undertaking in Nashville, Tenn., that’s anticipated to be accomplished in late 2024.