Bose Eyes Atlanta for New Regional Office
Atlanta, GA – In the latest news from the Atlanta Deal Sheet, audio-equipment behemoth Bose Corp is reportedly seeking office space in the Midtown area of Atlanta. The company is said to be in search of a 30,000 to 40,000 square feet office space that could house at least 200 jobs, according to sources privy to the matter.
Locations on Bose’s shortlist reportedly include sublease space at NCR’s unused second headquarters tower and the high-tech office tower Coda. The company’s goal is to have the office open by the end of the year. Newmark associate Preston Sanders, representing Bose, declined to comment on the search. No comment was available from Bose as well.
Impact on Atlanta’s Office Market
Should this move materialize, it would come as a real boost to Atlanta’s office market, which has been experiencing a slump in leasing and record levels of sublease availability. By the end of last year, over 32% of Atlanta office space was either directly available or on the sublease market, a trend highlighted by a report from Avison Young.
Other Recent Leases
Other significant leasing activity in the Atlanta area includes an agreement by online fantasy sports platform PrizePicks for a 33,000 square foot lease for a new headquarters at the Star Metals Office building. Warby Parker, the popular eyeglass manufacturer, also recently signed a 1,500 square foot lease at The Shoppes at Webb Gin in Snellville for a new retail location.
Recent Financing Moves
In the financing arena, the Troesh Family Foundation recently refinanced the 11-story, 693,000 square foot office complex in Cobb County, known as the Wildwood Center, with a $65M loan from Franklin BSP Realty Trust. The new loan is set to mature in March 2029.
There has also been a notable financing deal for two Macon-area self-storage facilities under the Store Here brand. The facilities, owned by RHW Capital Management Group, have been refinanced with a $9.5M, five-year, fixed-rate loan provided by Alliant Credit Union.
Advancements in Development
Urban Oasis Development and Culdesac Inc. are in contract negotiations with the Atlanta BeltLine Inc. and Invest Atlanta for the revitalization of Murphy Crossing. This development plans to add mixed-income housing and retail, among other uses, to the 20-acre site. The venture aims to include 1,100 new housing units, with 30% of them earmarked for renters earning between 60% and 80% of the area median income.
The Simpson Organization has appointed Colliers’ Deming Fish and Emily Richardson to market Sugarloaf I, a 90,000 square foot, single-story office building that is part of a five-building office campus at 6700 Sugarloaf Parkway in Duluth.
