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Southern
Company to Build New Headquarters Downtown
January 23, 2004
Southern
Company, parent of Georgia Power and one of Atlanta's Fortune 500
companies will leave its Peachtree Street offices for a 14-story, 260,000-square-foot,
$50 million office complex to be built overlooking the Downtown Connector,
near Civic Center MARTA station and Centennial Olympic Park.
"With many recent announcements about people leaving Downtown, this is one that could have gone and didn't," said A.J. Robinson, president of Central Atlanta Progress, the downtown booster group.
"Coup for downtown"
Atlanta Journal-Constitution, 1/22/04
The new headquarters will be built in a location that's seen several other major real estate developments in recent times. The Novare Group announced plans to build two new condominium towers, with a total of 1,100 units, next to Southern's project, with an opening in early 2005. A few blocks away is the site of the future Georgia Aquarium and the new World of Coca-Cola museum.
Southern Co. has been at 270 Peachtree St., known as Southern Company Center, since 1995, when they moved from the Perimeter Center area as a commitment to Downtown.
The site of the planned 14-story, 260,000-square-foot headquarters is currently about 2 acres of parking lots at Spring and Alexander streets near the Civic Center MARTA station.
Central Atlanta Progress will start a $13 million improvement of Alexander Street this summer, using state and city funds to make it a four-lane boulevard with medians, trees and sidewalks.
"Coup for downtown"
Atlanta Journal-Constitution, 1/22/04Southern Co. will lease 130,000 square feet of space in the 260,000-square-foot tower for 12 years once it's completed in the fall of 2005, said Mark Williams, a spokesperson for Southern. Rental rates were undisclosed as of press time. Total cost of the project should run about $50 million, said Chris Schoen with Barry Real Estate.
"Southern Co. plans new downtown office tower"
Atlanta Business Chronicle, 1/21/04
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