Jamestown Inks Lease at 3 MSF Atlanta Mixed-Use

November 4, 2024

An IT company supporting the Coca-Cola bottling system will occupy the space.

Exterior shot of Ponce City Market in Atlanta. — Ponce City Market spans about 3 million square feet across five buildings and comprises office and retail space, as well as a residential component. *Image courtesy of Jamestown*

Jamestown has signed a 49,000-square-foot lease at its Ponce City Market, a mixed-use property in Atlanta. CONA Services—the IT company supporting the Coca-Cola’s North American bottling system—will occupy a portion of the building’s sixth floor.

CBRE represented Jamestown, while Savills worked on behalf of CONA Services.

The tenant will relocate from 10 10th St. NE in Midtown Atlanta, where it currently occupies 32,600 square feet, according to CommercialEdge data. The firm’s new office will house approximately 180 employees, with room for future growth.

Jamestown redeveloped a historic Sears, Roebuck & Co. store and distribution center into the five-building Ponce City Market, bringing it online in 2014. The 3 million-square-foot mixed-use asset includes 821 residential units, about 327,000 square feet of retail and restaurants and 638,000 square feet of Class A office space.

The newest additions at Ponce City Market were the 700,000-square-foot Scout Living, a hospitality living concept with 400 units, and 619 Ponce, the state’s first locally sourced mass timber office building totaling 110,000 square feet.

Common-area amenities include 8,000 square feet of bookable conference rooms, breakout areas, lounge space, on-site daycare and medical facilities, multiple health and wellness options, as well as The Roof at PCM.

Office tenants within the mixed-use development include Airbus, FanDuel and Capital One. Additionally, global accounting company Sage is set to move at 619 Ponce early next year.

Located at 675 Ponce de Leon Ave. NE in Atlanta’s Old Fourth Ward neighborhood, Ponce City Market is some 3 miles from downtown Atlanta. Hartsfield-Jackson Atlanta International Airport is within 13 miles.

Atlanta’s office vacancy rate on the rise

Atlanta’s office vacancy rate clocked in at 20.5 percent in September, up 180 basis points year-over-year and 1 percent above the national average, according to the latest CommercialEdge office report. However, the metro’s listing rate rose 7.1 percent in the same period, to $33.63.

In June, Newell Brands Inc. decided to move its headquarters at Building and Land Technology’s Concourse Office Park in Sandy Springs, Ga., by mid-2025. The company signed a 180,000-square-foot leasing agreement, expanding its footprint by about 20 percent.

Earlier this year, Piedmont Healthcare Inc. committed to 164,221 square feet at 271 17th St., a more than 540,000-square-foot office building. Lionstone Investments is the owner of the LEED Gold-certified tower.