This week, North American Properties (NAP) announced that WeWork, the platform for creators that provides members around the world with space, communities and services, has leased three floors in the 100 Colony Square building in Midtown Atlanta. The innovative company is expected to open its location at Colony Square in mid 2017.
“WeWork’s mission is closely aligned to the energy and experiences happening daily at Colony Square,” said Mark Toro, managing director of NAP, the firm leading the redevelopment of Colony Square. “And, as the reimagining of Colony Square progresses, we will continue to attract companies that value social experiences, street level energy and walkable, transit-oriented places that improve people’s quality of life.”
WeWork opened its first Atlanta location in Buckhead at 3340 Peachtree Road in May 2016. WeWork offers it members beautiful, collaborative physical spaces for teams of any size, access to a global community and numerous services.
“Midtown’s connectivity and young, educated population makes it an extremely attractive market for companies looking to retain top talent,” said Lawrence Gellerstedt of Cushman & Wakefield. “Colony Square at 14th and Peachtree is ideally situated geographically. Beyond that, Mark and the NAP team have a proven track record of being able to dial in with great skill to different areas more cultural and aesthetic vibes, making them an ideal partner for introducing WeWork’s incredible brand and culture to the heart of Atlanta.”
Since NAP acquired Colony Square in December 2015, the team has taken key steps to curate a new experience that follows Colony Square’s theme, “The Art of Modern Life.” NAP has installed new branding throughout the property, giant MIDTOWN letters anchoring the corner of Peachtree and 15th Streets and a turfed community gathering space with ample soft seating. The gathering space often hosts food trucks, yoga classes, cornhole tournaments and special holiday events for the public to enjoy.
In 2017, NAP will break ground on the major redevelopment project to turn Colony Square’s retail center inside out. The world-class team, including urban planner Jeff Speck and architecture firms Beyer Blinder Belle and Lord Aeck Sargent, has designed a highly connected, open-air square that will be known as a foodie haven; a shopping mecca; an events destination; and an arts-infused place to gather and soak up Midtown’s vibe. The first phase of the reimagined Colony Square is set to open in July 2018.
Cushman & Wakefield served as the brokerage firm for both NAP and WeWork. Cushman & Wakefield’s Andy Sumlin, Sonia Winfield and Laura Power represented NAP, and Lawrence Gellerstedt, Sam Hollis and Clinton McKellar represented WeWork in the lease negotiations.
About Colony Square
At the corner of Peachtree and 14th Streets, Colony Square is not only the heart of Midtown, it’s the heart of Atlanta – an original icon at the very center of the ever-rising capital of the modern South. Today, Colony Square is becoming an icon of another kind, bringing the Art of Modern Life to Midtown. With two office towers totaling 720,000 square feet, residential condos, a 467-room hotel and a 163,000-square-foot retail center, Colony Square is a sophisticated business, residential and cultural hotspot, that like all great city squares, is alive with possibility. The reimagined Colony Square will be known as a foodie haven; a shopping mecca; an events destination; a beautiful, amenity-rich and arts-infused place to gather with community and soak up Midtown’s vibe. Open, walkable and transit-friendly, the reimagined Colony Square will be seamlessly connected to the vibrant energy of the streets around it.
About North American Properties
Founded in 1954, North American Properties is a privately held, multi-regional real estate operating company that has acquired, developed and managed more than $5 billion of mixed-use, retail, multifamily and office properties across the United States. Headquartered in Cincinnati, with offices in Atlanta, Dallas and Fort Myers, Florida, the company has developed 20 million square feet of retail and 19,000 residential units in 12 states. In the past three years, North American Properties has launched 36 projects totaling $1.1 billion in total capitalization. In Atlanta, North American Properties is developing Avalon, Colony Square and Anthem on Ashley. For more information, please visit naproperties.com.