Avison Young Lands Atlanta Leasing Assignment

By Jeff Hamann

900 Ashwood in Atlanta

Parmenter Realty Partners has named Avison Young to oversee leasing at 900 Ashwood, a 207,291-square-foot Class A mid-rise office building in Atlanta’s Central Perimeter submarket. Previously, a Colliers team handled the property’s lease-up efforts.

Avison Young’s Kirk Rich and Jillian Bailey will lead the team assigned to the property. Last year, the two formed part of the team which took over leasing at another Atlanta mid-rise office asset.

Parmenter picked up the eight-story building in late 2016 from Wells Fargo for $27.7 million, according to Yardi Matrix. The bank had, in turn, acquired the asset from Griffin Capital out of a foreclosure action in 2012.

The property is situated northeast of Interstate 285’s intersection with U.S. Highway 19, approximately 15 miles from downtown Atlanta. The submarket is home to a competitive range of high-end commercial assets—more than 11.7 million square feet of Class A office space falls within 1 mile of 900 Ashford, according to Yardi Matrix data.

The largest company in the building is CRH, which occupies 94,000 square feet. Other tenants include Ashford Advisors, Concentra and Ideal Image. The asset was 41.3 percent vacant as of June. Property amenities include a conference center and a recently updated fitness center. Construction work is currently underway to update the structure’s café and add a new tenant lounge with complimentary WiFi.

Image courtesy of Yardi Matrix