Visa Expands in Atlanta

1200 Peachtree

Visa has agreed to lease 123,000 square feet of space at 1200 Peachtree, a 13-story building in Midtown Atlanta. The global company plans to create 1,000 new jobs in the region over the next several years.

Cousins Properties owns the 370,000-square-foot property, where Visa is expected to move during the fourth quarter of 2022.

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The new Atlanta office will represent a wide variety of Visa teams and functions, with a focus on technology and client services. The company, which is headquartered in San Francisco, said several global and regional leaders will be relocating to Atlanta to support its employee base.

Michelle Gethers-Clark, chief diversity officer and head of corporate responsibility, said in prepared remarks that Visa is committed to investing in and supporting the robust talent pool in Atlanta with professional development and growth opportunities. She said Atlanta represents an epicenter of financial technology expertise, resilient entrepreneurs, diverse perspectives and a vibrant community culture.

City and state leaders, including Gov. Brian Kemp, heralded the news and said it solidified the city’s position as a global hub of the FinTech and payment processing industries.

Property background

Cousins acquired 1200 Peachtree in March 2019 from Norfolk Southern Corp. for $82 million as part of a larger transaction that included Cousins’ development of the company’s new headquarters in Midtown. When Norfolk Southern, the sole tenant, moves out and into its new building at the end of this year, Cousins will reposition the property for multi-tenant use. Cousins is planning a complete redevelopment of the ground floor, creating both indoor and outdoor amenities and taking advantage of the building’s location in Midtown.

Colin Connolly, Cousins president & CEO, said in a prepared statement the building’s central location, proximity to renowned research institutions and accessibility is a compelling reason for companies to be interested in the Midtown submarket.

Located within a quarter mile of a MARTA train station, the 2.52-acre property also has 740 parking spaces in subterranean and above ground facilities. Built in 1981, AT&T occupied the building before Norfolk Southern. Situated near the intersection of Peachtree and 14th Street, the building is a short walk to shopping, hotels, residences and more than 50 restaurants. It is within close proximity to Piedmont Park and adjacent to The Woodruff Arts Center, High Museum and Atlanta Symphony Hall.