(ATLANTA) – Hines, the international real estate firm, today announced Facebook, Inc. (Nasdaq: FB) will lease an entire floor – 35,900 square feet – at T3 West Midtown, the Southeast’s first heavy-timber office development, bringing the development to 65% leased. The social media company is expanding its West Midtown footprint, at a time when Atlanta’s technology industry is seeing increased activity in the submarket.
“T3 West Midtown is by design a highly differentiated office property introduced to Atlanta with the intention of attracting forward-thinking, innovative customers,” said John Heagy, Hines senior managing director. “Facebook is the market leader in the social networking realm, and it’s only fitting for the company to expand its Atlanta office to one of the city’s most progressive, sustainable office buildings. West Midtown is a true contender for Atlanta’s new tech hub, and Facebook’s move into T3 only reaffirms that.”
“When considering the next phase of our growth in Atlanta, we wanted our newest office space to feature a highly-sustainable design concept and to be situated within a vibrant community. From open workspaces to creative art installations from local artists, we’re excited to create a new office that inspires collaborative impact and enhances individual employee well-being at T3 West Midtown,” said Jamila Reeves, corporate media relations manager, Facebook.
The seven-story, heavy-timber T3 office building is the first of its kind in the market featuring more than 230,000 square feet of space, including ground-level shared social workspace, an expansive fitness center, large outdoor terraces on each floor, a rooftop terrace and an adjacent pocket park. The announcement comes on the heels of Macy’s Technology’s expansion into the building bringing its ecommerce division to the project, occupying over 107,000 square feet of space, and Interior Architect’s move into the building taking over 7,000 square feet of space.
“When Hines launched T3 West Midtown in 2018, we set out to build a project that would combine authenticity with state-of-the-art building systems and technology, an exceptional property that our customers could call home. The completion of the project and the announcement of two major tech tenants, Facebook and Macy’s Technology, are true victories for our team in bringing that vision to life,” said Hines managing director Tori Kerr. “Hines had complete confidence that this project was destined to attract innovative companies considering Atlanta. The office’s rooftop terraces, shared collaboration space, superior technology infrastructure, architectural diversity and proximity to the retail, restaurant and entertainment options in Atlantic Station all make T3 West Midtown a truly unique offering in the Atlanta market.”
T3 West Midtown is part of Hines’ T3 model, which stands for Timber, Transit and Technology, with five of its kind under development around the United States. Alongside T3 West Midtown, Hines is also developing Atlantic Yards, the 500,000-square-foot office development, which is slated to deliver late 2020. Both T3 West Midtown and Atlantic Yards are part of a larger transformation underway at Atlantic Station. The redevelopment of Atlantic Station will reintroduce the retail village to the marketplace with its state-of-the-art central green and collaboration spaces, enhanced tenant mix, new retail and restaurant offerings, additional hospitality options, and the inclusion of new multifamily residential units.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 205 cities in 24 countries. Hines has approximately $133.3 billion of assets under management, including $71 billion for which Hines serves as an investment manager, including non-real estate assets, and $62.3 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,393 properties, totaling over 459 million square feet. The firm’s current property and asset management portfolio includes 539 properties, representing over 232 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.