CBRE Arranges 37,000 Sq. Ft. of Leases at Avalon in Alpharetta, GA

CBRE today announced five new office leases at Avalon, an 86-acre mixed-use development in Alpharetta, Georgia, one of Atlanta’s most active suburban submarkets. These new leases totaled 36,928 sq. ft. and were signed over the last 12 months.

Peter McGuone, Bryan Heller and Parker Welton of CBRE’s Landlord Representation Group in Atlanta represented the property’s ownership, PGIM Real Estate. Lease terms were not disclosed.

“Momentum continues to build at Avalon, one of the highest quality mixed-use projects in the country, and these latest leases are proof that office tenants are quickly back-filling second generation vacancies at top of market rents,” said Mrs. Welton, Senior Associate at CBRE. “Avalon remains attractive not only due to its best-in-class, mixed-use offerings not found anywhere else in the Southeast, but also because of the great people behind this project. We’d like to thank PGIM Real Estate’s asset management team and North American Properties’ property management team for striving to maintain and continuously elevating the premium community-driven experience that Avalon delivers.”

Avalon’s new office tenants have taken space within buildings 5000 & 6000, which combined offer 108,000 sq. ft. of modern office lofts located over retail in the heart of the development. Among the new lease transactions was a 21,141-sq.-ft. commitment by OnSolve and an 8,067-sq.-ft. commitment from Ceto. Other new leases came courtesy of Toro Development Company (2,945 sq. ft.), Lewis James (2,689 sq. ft.) and Old Republic Risk Management (2,086 sq. ft.). Additionally, CBRE’s leasing team is in negotiations with three more office tenants at Avalon, who could take approximately 23,000 sq. ft. combined.

In addition to two office towers and the loft office component, Avalon boasts two apartment complexes, single-family homes, townhomes, The Hotel at Avalon, state of the art conferencing facilities, acres of community space, and a long list of restaurants and retailers. Brands located at Avalon include Whole Foods, Apple, Tesla, luluemon, Vineyard Vines, Sephora, Peter Millar, Nike and over twenty-five largely chef-driven restaurants.