IHG's New HQ is......still unknown, but it appears InterContinential Hotel Group has added another site for its potential HQ: Ackerman & Co's Abernathy 400 development. (Instead of a Bachelor-style rose ceremony, the winner will get a mint on their pillow.)
Central Perimeter Momentum
This morning at our Future of Central Perimeter event, Ackerman's Kris Miller trumpteted the 400 development, while staying non-committal about specific tenants (including IGH). Our event was at the Retreat at Perimeter Summit. Kris—second from left with DTZ's Chris White, City of Sandy Springs Councilman Gabriel Sterling, HJ Russell's Jerome Russell and Cousins Properties' Bill Hollett—says a new office building will soon make sense, assuming you can achieve that $30-plus/SF rents. “I think the year of building stuff and hoping they will come is gone,” he says. But prime space in Central Perimeter now—what's left—is reaching as much as $28/SF, which means it's not far off for a company to anchor fresh space.
Jerome predicts that by 2025, MARTA will have extended farther north along Ga 400, further urbanizing Central Perimeter. And Gabriel predicts Central Perimeter could actually surpass the City of Atlanta with the number of corporate HQs. (Good news for tailors and tie salesmen in the Central Perimeter.)
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