JLL lands first office lease for adaptive reuse district in Downtown Atlanta
JLL today announces that Ohio River South has signed a 4,726-square-foot office lease at Sylvan, a 27,620-square-foot historic building within South Downtown, the adaptive reuse, mixed-use neighborhood in Downtown Atlanta. The deal marks the first office lease signed at the project, which also includes revitalized street-level retail and restaurant space. JLL Managing Director Brooke Dewey and Executive Vice President David Horne handle office marketing and leasing efforts in partnership with the owner behind the transformational renovations, Newport.
Newport began purchasing buildings and parking parcels in South Downtown in 2017, with a vision to redevelop Atlanta’s largest collection of historic commercial buildings and add new density in surface parking lots, creating a walkable, livable and highly connected neighborhood. Located at 227-235A Mitchell Street along Hotel Row, Newport is transforming the original Sylvan Hotel into 38,921 square feet of modern office space, while preserving the original brickwork, tile floors and heavy timber columns and beams. The building also offers flexible floor plates and 7,034 square feet of retail with areas for outdoor seating. Ohio River South, an Atlanta-based strategy firm focused on government, business and politics, will move its headquarters to the reimagined building once it delivers in Q1 2022.
“As Atlanta’s office market continues to show strong signs of recovery, South Downtown’s pedestrian-oriented, mixed-use environment will provide tenants with unparalleled connectivity to the metro’s diverse talent pool and amenity base,” said JLL’s Dewey. “The project’s strategic location in the heart of Downtown Atlanta provides users with a unique opportunity to be immersed in one of the city’s most transformative, highly amenitized districts.”
Hotel Row, which includes Sylvan and Gordon, combined with 222 Mitchell, offers over 90,000 square feet of retail including street level, basement and rooftop space and over 290,000 square feet of creative and Class A office space. JLL recently announced three retail leases for the project, including How Crispy, a counter-service chicken sandwich restaurant; Pins Mechanical, an Ohio-based arcade and game bar; and Pizza Clementine, a pizzeria from Atlanta-based Slater Hospitality. How Crispy and Pizza Clementine are located along Hotel Row and will open Spring 2022, with Pins Mechanical and 222 Mitchell opening in Summer 2023. JLL’s Director of Retail Agency Leasing Coleman Morris and Senior Vice President Iggy De Quesada are facilitating retail leasing for the project.
“We are looking forward to relocating our headquarters to a historic area of the city and appreciate the competitive advantages of being located near best-in-class, walkable amenities,” said Howard Franklin, managing director at Ohio River South. “Our new space at Sylvan provides a one-of-a-kind opportunity in Downtown Atlanta that powerfully positions our team for future growth and success.”
South Downtown is strategically located between two MARTA stations and walkable to Mercedes-Benz Stadium, Georgia World Congress Center, State Farm Arena and the State Capital. According to JLL Atlanta’s Q3 Office Insight, the downtown submarket has a healthy inventory of more than 15.1 million square feet of office space, with an additional 58,750 square feet currently under construction. Leasing activity in Atlanta remains strong, and JLL’s experts predict that the city is turning the corner of the pandemic-induced downturn, as interest in diversity of industry and talent continues to drive the market’s recovery.
“Ohio River South solidifies our belief that Hotel Row provides unmatched connectivity and opportunity for companies that are looking for space that reflects Atlanta’s rich culture and history,” said April Stammel, senior vice president at Newport. “Howard and his team at ORS have been tenants of ours for several years in the historic M Rich Building, and we couldn’t be more excited to have them choose Sylvan as their new home. This adds great momentum to South Downtown’s mission of bringing in businesses and partners that will contribute to creating an inclusive and accessible neighborhood for all Atlantans.”
About NEWPORT
NEWPORT is an owner-managed project developer and investor with a focus on retail and commercial real estate in Germany and the East Coast of the United States. Newport focuses on design and intelligent use of buildings in urban areas to create long-term value. In 2016, Newport expanded its ventures to the United States, opening an office in Atlanta and purchasing 48 buildings within the South Downtown district. The U.S. team is dedicated to revitalizing the neighborhood, restoring the historic architecture and developing new mixed-use buildings on vacant parking parcels. For more information, visit www.newportre.com.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Ohio River South
For centuries, the mighty Ohio River divided North and South, serving as the natural extension of the Mason-Dixon Line. Today, the spirit of that great tributary – the economic and cultural engine of a forward looking America – inspires Ohio River South, a high-stakes strategy firm led by professionals from the highest levels of government, business and politics. Decades of experience back a team of the region’s best practitioners, tactics, and technologies for electoral and policy success.
