CP Group Inks 5 New Leases at Atlanta Tower

Paces West. Image courtesy of CP Group

Five new tenants at CP Group’s 18-story, 640,000-square-foot Paces West office building in Atlanta have signed leases at the Vinings property, including three for space in the company’s new move-in ready workCPlaces spec suites.

CP Group, which has owned the property at 2727 Paces Ferry Road SE since June 2019, is set to deliver six new spec suites, also known as Spec Places, by the end of the year including three for incoming tenants. The newly signed tenants are:

• Ellie Health, a wellness services provider that was represented by Sam Zelony of Windsor Realty, signed a lease for a 3,129-square-foot spec suite.
• Midea Group, a global high-technology company that was represented by Matt Barnes of Savills, signed a lease for a 3,618-square-foot spec suite.
• Johnson Service Group, a staffing and consulting firm represented by Kush Mirani of CBRE, leased a 5,394-square-foot spec suite.
• Barry Wehmiller Design Group, an engineering, architecture, construction, system integration and consulting firm, leased 2,953 square feet of space and was represented by Frank Cannon of CBRE.
• GA Medicare 101, an insurance company that was represented by Kevin Hermetz of Ackerman & Co., leased 3,094 square feet of space.

Jeff Bellamy and Adam Viente from JLL represented the landlord in each transaction.

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Paces West is situated 2 miles from I-75 and has immediate access to I-285. The building is a short drive to Truist Park, home of the Atlanta Braves, and the Cobb Energy Performing Arts Centre. It is also within walking distance to numerous hotels, restaurants and a boutique shopping center. Property amenities include a fitness center with locker rooms, showers and yoga rooms; a café and coffee shop; on-site banking; dry cleaning; car wash service; two conference rooms and 24-hour manned security.

Flex space program

CP Group, the second-largest office landlord in Atlanta, rolled out the first flexible office spaces in August 2022 at its Lakeside Office Park and One and Two Ravinia in the city. The spec suite program was announced in late 2021 and designed in collaboration with Gensler, later joined by ASD | Sky. Earlier this month, the Boca Raton, Fla.,-based company announced it plans to complete 340,000 square feet of the flexible office suites this year across its portfolio. Atlanta office properties that are part of the program include 5600 Glenridge and the Bank of America Plaza, the 55-story, 1.3 million-square-foot office tower in Midtown Atlanta, acquired by CP Group in March 2022, Cumberland Center II and 3225 Cumberland, both in the Cumberland/Galleria submarket.

The customized suites are designed to meet the needs of companies seeking move-in, yet scalable office environments for evolving teams. The workCPlaces brand has three types of spaces that are aimed at small to medium-size tenants and enterprise-level businesses. In addition to Spec Places, the move-in ready pre-built office suites, the other offerings are Flex Places, individual suites with shared amenities, intended for high-growth companies, and Cowork Places, scalable coworking office space for small, growing teams.

Brendan McGee, director of worCPlaces at CP Group, said in a prepared statement the company is seeing high demand for customizable and adaptable environments by employers seeking environments that can accommodate their immediate, fast-evolving needs and long-term business goals. He said the leasing momentum in a market like Atlanta has nearly outpaced the company’s ability to construct the custom spec suites.