JLL announces 111,000 SF of leasing activity at Terraces in Central Perimeter

ATLANTA, Oct. 16, 2023 - JLL today announced 14 transactions totaling 111,262 square feet of leasing activity at Terraces, the 1M-square-foot office campus in Central Perimeter in Atlanta. The year-to-date activity encompasses seven new leases, four expansions and three renewals across Terraces’ North and South Buildings.

JLL Senior Managing Director Brooke Dewey and Executive Vice President Glenn Aspinwall handle leasing and marketing efforts for Terraces on behalf of the owner, a MetLife-Inc. (NYSE: MET) affiliate.

Rising 11 stories above Atlanta’s thriving Central Perimeter submarket, Terraces is a Class-A workplace destination that offers efficient and flexible floor plates with spaces ranging from 1,200 square feet to 278,000 square feet. The campus includes five spec suites – four of which are now leased, with over 22,000 square feet of new spec suites under construction. The largest transactions this year include new leases of an 18,542-square-foot lease for Alliant Health Solutions; a 15,582-square-foot lease for UMP; and a 12,469-square-foot lease for Sisecam Chemicals Resources, LLC.

The recently signed leases at Terraces also include a 14,971-square-foot renewal for KW Commercial; a 9,906-square-foot renewal for M-Tech Systems USA; a 7,812-square-foot renewal for Preston Partnership; a 7,375-square-foot lease for SEI Atlanta; a 5,830-square-foot lease for Planet DDS; a 4,792-square-foot lease for Silver Studio Architects; a 4,612-square-foot expansion for DRW Healthcare Staffing; a 3,458-square-foot expansion for Oldcastle APG; a 3,211-square-foot expansion for WSP KW Mission Critical; a 1,423-square-foot lease for Cincar Consulting Group; and a 1,279-square-foot expansion for TEKsystems.

“Terraces offers a high-quality workplace environment that provides tenants with the opportunity to bring their work outside of the traditional office,” said JLL’s Aspinwall. “Between sky balconies and a variety of outdoor spaces, the campus offers companies an unparalleled open-air office environment and plays an important role in differentiating Terraces from its competitors. We have cultivated a mix of tenants that recognize the benefits of collaborating in a dynamic office environment, and we look forward to welcoming them to the campus.”

Terraces features contemporary lobbies filled with abundant natural light, two high-quality restaurants, high-tech conference facilities, a state-of-the-art fitness center, and a variety of outdoor gathering areas. With expansive green spaces and campus-wide WiFi, employees have the opportunity to bring work outside of the office and into the Tree Grove, Pier Workroom or Garden Lawn. In addition, the lush campus is accented with a lake surrounded by a walking path and extensive landscaping. Notably, Terraces features an onsite Experiential Manager who is responsible for curating a robust employee engagement program, with recent examples including a floral bar, happy hours, free spin classes and the ever-popular goat yoga by the lake.

“Over the years, we have invested in significant upgrades and modernizations to transform the campus as part of our vision for the workplace of the future,” said Stirling Simmons, Asset Manager at MetLife Investment Management. “Despite the headwinds facing the real estate industry, we have been successful in securing an impressive roster of tenants at Terraces, and we are confident this momentum will continue.”

Located in Atlanta’s booming and connected Central Perimeter submarket, Terraces’ prime location offers convenient access to GA-400, I-285 and MARTA. Terraces boasts an extensive amenity base, including walkability to numerous full-service and boutique hotels, locally owned shops, and a diverse mix of casual and fine dining restaurants. The campus is within a half-mile radius of more than 30 dining options and is in close proximity to top retail and restaurant destinations such as Ashford Lane and Perimeter Mall.

According to JLL’s Q2 Office Insight, Central Perimeter saw the most square footage renewed of any submarket. So far this year, Central Perimeter has experienced steadily increasing activity, and the leases signed at Terraces further demonstrate the submarket’s successful tenant retention rate. Employers continue to see the competitive advantages of occupying space in this highly sought after submarket, and JLL experts predict this momentum will continue throughout the year given Atlanta’s long-term appeal and reputation for attracting diverse industries.