Hines Purchases Development Site in Atlantic Station Submarket

(ATLANTA) – Hines, the international real estate firm, announced today that it has purchased a prime commercial property site in Atlantic Station from CBRE Global Investors. In this location, the firm plans to develop a Class A, “creative office” building.

Hines has created a building concept that will provide a progressive, creative and amenitized office environment that will allow tenants to achieve their densification objectives in a manner that is responsive to, and respectful of, their employees. The “creative office” building will be located in a vibrant, transit-connected area that allows for the neighborhood that employees are seeking.

The project will consist of an approximately 200,000-square-foot, multi-tenant creative office building. Significant design features include: bicycle lockers; a rooftop patio; collaborative lobby space and oversized, industrial-inspired windows which will provide spectacular downtown views.

“Progressive tenants are seeking vibrant, authentic locations to recruit, attract and retain employees needed for their businesses,” stated Hines senior managing director John Heagy. “These tenants want lifestyle attributes that will allow their employees to live, work, and thrive in the neighborhood, and this project will allow them to do so.”

“Midtown has strong momentum as a destination for companies seeking an urban, infill, mixed-use environment that helps attract millennials,” said John Gilb, Principal, CBRE Strategic Partners U.S. “Technology companies in particular are rapidly migrating to Atlantic Station as the area is increasingly gaining a reputation as the epicenter of technology and creative business in Atlanta.”

Construction is scheduled to begin in the first quarter of 2016 and is expected to be completed in the second quarter of 2017.

Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services. In 2014, Hines completed over $8 billion in transactions on behalf of its investment management clients. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired more than 1,000 properties, totaling over 339 million square feet. The firm’s current property and asset management portfolio includes 511 properties, representing over 176 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.