To date, Ardent has invested a total of $465M into Piedmont Center
The Ardent Companies announces its purchase of Piedmont Center Buildings 5-8 from Granite Properties, now owning and operating the entire 45-acre Buckhead site comprised of 14 Buildings totaling 2.2 million square feet. The four recently renovated buildings total 516,256 square feet and include the same walkable urban campus feel afforded to the Center as a whole. A reimagining of the entire site is underway, which includes implementing artful encounters, modernizing lobbies, enhancing exteriors, adding retail amenities, and more.
“With this purchase, we have reached our goal of assembling amenity-rich and open-air assets along the Piedmont Tech Corridor, and we’re ready to introduce the market to the new Piedmont Center,” said Matt Shulman, CEO and Managing Partner of Ardent. “As the sole owner of one of the best office sites in Buckhead, we can now further update the iconic site and curate a community-like experience among our tenants and guests.”
Ardent began its investment in Piedmont Center in 2016, with its acquisition of The Fountains (Buildings 9-12) and then The Commons (Buildings 1-4) and Building 15 a year later. In 2019, with its purchase of Piedmont Center 14, Ardent had assembled 1.7 million square feet of space comprised of 10 buildings at the Piedmont Road campus.
As owner and operator, Ardent has invested in significant branding and wayfinding efforts to help visitors navigate the buildings. A pedestrian bridge from Building15 to Old Ivy Road was constructed in 2019 to further connect tenants with surrounding amenities and neighborhoods. Additionally, the more than 50,000 square feet of courtyard and public areas were recently revitalized to include upgraded amenities such as free public Wi-Fi and music in all common areas. Most recently, Ardent completed state-of-the-art upgrades to the variety of meeting and conference spaces available across the campus, with accommodations ranging from 12 to 144 people. Additionally, the enhancement of the 1.2-mile nature trail surrounding the development in its entirety, including implementing a brand-new surface, is currently underway.
“As one of the largest office landlords in Buckhead, this acquisition signals our deep confidence in Piedmont Center, Buckhead office market fundamentals, and our portfolio aggregation strategy” said Scott Werbel, Managing Director with Ardent. “Piedmont Center has great energy – with a diverse mix of tenants from tech, consulting, and other growth industries. Our tenants enjoy the extensive outdoor spaces everyday with food trucks, outdoor yoga, practice golf, and other activities. We look forward to continuing to build on the momentum and connectivity to the Buckhead community.”
Further showing its confidence in the project, Ardent moved its headquarters into Building 1 at Piedmont Center in late June. Ardent is now preparing for tenants’ reentry to the site as more employees are coming back to the office. The site’s design has been advantageous for tenants during the last year, with most buildings offering direct outdoor access from ground-floor suites, spacious outdoor common areas across the property, ample free parking, and nature trails.
“This announcement comes on the heels of the rezoning to SPI-12 and allows us to consider a vibrant mix of uses across the entire site,” said Mike Guynn, Managing Director with Ardent. “We have only just begun to unveil Piedmont Center’s potential as a dynamic environment catering to the Buckhead market.”
About The Ardent Companies
Ardent operates as a privately held real estate firm focused on opportunistic and diversified investment strategies. With significant industry experience and a demonstrated track record, Ardent leverages its established relationships and capital flexibility to attain a diverse set of risk-adjusted investments. The firm pursues opportunities with an innovative and disciplined approach, making material investments together with our limited partners for maximum alignment. As the firm continues to build upon its infrastructure, portfolio, and footprint, Ardent is committed to creating a positive impact on its employees, investors, and communities.
Founded in 2012, Ardent has invested over $3 billion with $1.5 billion in assets currently under management. Ardent’s investment strategies extend across state lines and country borders, with a current presence in thirty states and three countries. As Ardent expands upon its geographic footprint, the firm continues to grow its employee base with team members based in Atlanta, Charlotte, and New York City as well as the United Kingdom.
