CBRE Global Investors - an affiliate of
CBRE Group, Inc.
) - announced the renovation of Atlantic Station's 201 17
Street building, with the addition of professional technology and
artistic suites. The strategic move is in response to the present
requirements of flourishing modern tech companies in the
Atlantic Station, a 138-acre master-planned mixed-use project,
is one of the Southeast region's premier mixed-use communities
and flourishing market in Atlanta. 201 17
Street, a 17-story LEED Gold-certified Class A office tower, is
situated at the center of Atlantic Station.
According to the redevelopment plan, CBRE Global Investors
will renovate the fourth floor of the office building. The
blueprint includes addition of some ultra-modern features - such
as moveable partitions (to facilitate firms to extend space
without construction costs, building permits or disruption), and
raised floors that store electrical wires (to permit companies to
quickly reconfigure workspaces). Currently, the 21,681 square
feet of space is under construction. Notably, 2 of the 5
available spaces at the particular building have been pre-leased,
which evinces a strong demand for the marketplace.
We view the aforementioned move as a strategic long-term
investment by CBRE Global Investors. This is expected it to
provide the company a considerable up-market potential and boost
the iconic property's value.
Notably, CBRE Global Investors has been making concerted
efforts to the long-term success of Atlantic Station. In addition
to 201 17th Street, CBRE Global Investors owns 2 nearby apartment
communities at Atlanta Station.
Atlanta, in particular the Midtown area, is the flourishing
hub of fast-growth tech firms. Significantly, CBRE Global
Investors owns 3.6 million square feet of office space across
Atlanta, which includes some prominent properties such as -
Northcreek Office Park, The Towers at Wildwood Plaza, Wildwood
Center and Platinum Tower.
CBRE Global Investors, which is the independently operated
associate of CBRE Group, is a global real estate investment
management firm. As of Mar 31, 2013, the firm had $90.7 billion
worth assets under management.
Currently, CBRE Group carries a Zacks Rank #2 (Buy). Other
well performing REITs include
Douglas Emmett Inc
Extra Space Storage Inc.
DuPont Fabros Technology, Inc.
), all of which have the same Zacks rank as CBRE Group.
CBRE GROUP INC (CBG): Free Stock Analysis
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