Source: Douglas Sams, Atlanta Business Chronicle
A U.S. division of RIB Software SE is moving to downtown's Fairlie-Poplar District.
The company, whose software is used by the construction industry, is relocating to 83 Walton Street, one of the district's 100-year-old loft office buildings.
RIB is leaving Northpark Town Center in Sandy Springs to be part of downtown's continued revitalization, which is being led by companies such as Newport US RE, said Philip Covin, with Pollock Commercial, Inc.
Newport, a German real estate company, plans to invest $500 million in a sweeping redevelopment of south downtown that one day will total 1.8 million square feet in the city’s historic commercial heart. Zeller Realty Group is another important player in downtown Atlanta’s renaissance, especially in the Fairlie-Poplar District, where MARTA, Georgia State University and a re-energized Woodruff Park are catalysts for new investment.
"[RIB] thought this was a good time to move downtown, considering all the activity," Covin said.
The five-story 83 Walton Street will house about 50 employees of RIB. An affiliate of the company bought the building for $3.2 million. Covin represented the seller, Phase 3 Marketing.