JLL today announced 12 transactions in 2024 totalling 106,900 square feet of leasing activity at Terraces, the 1 million-square-foot office campus in Atlanta’s Perimeter. The year-to-date activity encompasses six new leases, four renewals and one expansion across Terraces’ North and South Buildings. This momentum comes on the heels of more than 137,000 square feet of leasing activity in 2023. JLL Senior Managing Director Brooke Dewey and Executive Vice President Glenn Aspinwall handle leasing and marketing efforts for Terraces on behalf of MetLife Investment Management (MIM), who manages the asset on behalf of its client.

Rising 11 stories above Atlanta’s Perimeter submarket, Terraces is a Class-A workplace destination offering efficient and flexible floor plates with spaces ranging from 1,200 square feet to 278,000 square feet. The campus includes five spec suites – four of which are now leased, with over 22,000 square feet of new spec suites available soon. The largest tenant, Swisslog, a leading warehouse automation and software provider, recently announced it will open a new Americas HQ in a 26,296-square-foot space in Terraces' North Building. The new HQ will house over 100 employees, significantly strengthening the company’s United States footprint.

Other leases signed include a 25,472-square-foot renewal for Arauco; a 20,559-square-foot lease for Jencap Speciality Insurance; a 5,441-square-foot expansion for Hitachi; a 5,432-square-foot lease for Velocity Risk Underwriters; a 4,690-square-foot renewal for Bell Oaks Executive Search; a 3,490-square-foot renewal for Ragland Law; a 3,434-square-foot renewal for Ci2 Aviation; a 3,292-square-foot renewal for Teplis Travel Services; a 3,061-square-foot lease with Compass Wealth Management; a 2,998-square-foot lease for CM Critical Eng; and a 2,735-square-foot lease with Lido Advisors. 

“This is the strongest year-to-date leasing activity the property has experienced since 2019, signifying the continued resurgence of return-to-office and the unrivaled benefits of in-person collaboration,” said JLL’s Aspinwall. “More and more, companies are committing to longer leases in larger spaces. A well-located and highly amenitized office destination that prioritizes tenant engagement and a holistic workplace experience like Terraces is where we will continue to see robust leasing demand that even surpasses pre-pandemic levels.” 

Terraces features contemporary lobbies filled with abundant natural light, two high-quality restaurants, high-tech conference facilities, a state-of-the-art fitness center, and a variety of outdoor gathering areas. With expansive green spaces and campus-wide WiFi, employees have the opportunity to bring work outside of the office and into the Tree Grove, Lake Overlook or Garden Lawn. The lush campus is accented with a lake surrounded by a walking path and extensive landscaping. Notably, Terraces features an onsite Experiential Manager responsible for curating a robust employee engagement program, including happy hours, spin classes and goat yoga by the lake. Since investing heavily in outdoor spaces, top-tier amenities and tenant events, employee attendance at the office campus has increased 60% due to new return-to-work policies.   

Located in Atlanta’s booming and connected Perimeter submarket, Terraces offers convenient access to GA-400, I-285 and MARTA. Terraces boasts an extensive amenity base, including the best 360-degree walkability in Perimeter that leads to numerous full-service and boutique hotels, locally owned shops, and a diverse mix of casual and fine dining restaurants. The campus is within a half-mile radius of more than 50 dining options and is in close proximity to top retail and restaurant destinations such as Ashford Lane and Perimeter Mall. 

According to JLL research, total leasing volume in H1 2024 was 11% higher than H1 2023. This quarter, the average lease size is 31% larger when compared to the previous quarter, as companies continue to increase and expand their footprints. This year, Perimeter has seen steadily increasing activity, with the latest leases signed at Terraces demonstrating the submarket’s ability to successfully attract and retain a variety of tenants due to its advantageous location, concentration of Fortune 500 companies and robust talent pool.

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