Hirsh Real Estate Group: Atlanta Firm Increases Investment In Buckhead’s Technology Corridor By Acquiring Piedmont Center
The Ardent Companies has increased its stake in Buckhead’s technology corridor along Piedmont Road. The real estate investment firm has acquired four buildings in the Piedmont Center. The Atlanta-based company now owns the entire complex. Ardent has invested $ 465 million in Piedmont Center to date, including the 80% of the complex it owned prior to this transaction.
history
Piedmont Center is a sprawling 50-acre complex on the north side of Piedmont Road, between Lenox Rd and Rowell Rd. The campus comprises 2.2 million square feet of commercial space in 14 medium and tall buildings. Construction began at the Piedmont Center in 1981. Since the first acquisitions in 2016, Ardent has renovated various areas of the property.
Buckhead’s technology corridor
Ardent had previously relocated its headquarters to Building 1 of the Piedmont Center. The company is ready to take advantage of recent zoning changes to add retail and other amenities to the property. Ardent is committed to promoting the momentum of the Piedmont Rd area as a hub for technology companies. The Atlanta Tech Village attracts tech startups and entrepreneurs just around the corner, and the Piedmont Center is already home to several tech companies. Ardent will continue to woo tech companies for the complex by offering a great location at relatively affordable prices between $ 29.50 and $ 37 per square foot.
Go forward
The Piedmont Center continues to be remodeled and updated with an emphasis on open spaces and connectivity. Recent renovations include a footbridge and free Wi-Fi in public areas. The 1.2 mile nature trail on campus is due to be renewed shortly. The complex will be connected to PATH400 so tenants can walk or cycle to work and easily connect to MARTA. Next door, the new Modera Prominence brings hundreds of apartments into the neighborhood as well as additional retail space. Modera is already tied into PATH400 along Lenox Rd.
Ardent has not released any specific retail or restaurant plans for Piedmont Center, but we will keep you updated as we learn more.
This press release was prepared by the Hirsh Real Estate Group. The views expressed here are your own.