Avison Young to Lease 250 E Ponce in Atlanta
The eight-story office tower is currently 84 percent leased to a diverse roster of tenants including Wells Fargo and Utility Associates.
By Timea Papp
The Dilweg Cos. has awarded Avison Young the exclusive leasing assignment for 250 E Ponce, a 141,582-square-foot, Class A office building in downtown Decatur, Ga. The leasing team led by Principal Kirk Rich, alongside Associates Jillian Woodliff and Callan Phillips, will spearhead marketing efforts at the property.
Located at 250 E. Ponce De Leon Ave., the eight-story asset sits on a 1.32-acre site and was completed in 1962. According to Yardi Matrix, the building underwent cosmetic renovations in 2013. Currently 84 percent leased, 250 E. Ponce features a full 13,440-square-foot floor of available creative and loft space. Notable tenants include Wells Fargo, ELS Educational Service Inc. and Utility Associates.
The property boasts tenant-available green space with seating areas, on-site branding and an enhanced signage package as well as panoramic views of the city. 250 E. Ponce is within walking distance of several restaurants, retail and entertainment venues and only a four-minute walk from the Decatur MARTA station that provides access to the metro area.
“Decatur is one of the most specialized and sought-after submarkets in metro Atlanta and an ideal location for millennials based on its proximity to downtown Atlanta, MARTA and numerous retail amenities,” said Rich, in prepared remarks.
The Dilweg Cos. acquired the asset in August 2016 for $28.4 million, while Branch Banking & Trust provided $25.2 million in acquisition financing to facilitate the deal, Yardi Matrix shows. The loan is scheduled to mature in August 2021.
Images courtesy of 250 E Ponce
