SunTrust Bank’s Corporate Real Estate Group Receives 2013 Downtown Economic Impact Award
During the December 11th Central Atlanta Progress (CAP) Board of Director’s meeting, Mike Hurst, SunTrust’s Director of Corporate Real Estate, accepted the 2013 Downtown Economic Impact Award on behalf of SunTrust for its efforts in securing a historic lease transaction with The Coca-Cola Company in the SunTrust Plaza/Gardens complex in downtown Atlanta.
Now in its fifth year, CAP’s Downtown Economic Impact Award recognizes a company or project that has stimulated revitalization efforts that strengthen and advance the community at large and leaves an overall positive mark on the neighborhood.
“SunTrust is honored to accept CAP’s Economic Impact Award” said Hurst. “We worked tirelessly to finalize this significant lease agreement and are very proud of all involved parties that worked to complete this deal. We are proud of this contribution to the continued economic vibrancy and advancement of Downtown Atlanta.”
SunTrust Bank’s Corporate Real Estate Group completed the lease agreement with The Coca-Cola Company in just six months, from start to finish. The transaction provides Coca-Cola with 275,868 RSF in the SunTrust Garden Offices and involves the relocation of approximately 2,100 Coca-Cola professionals to Downtown Atlanta. This move is the largest corporate relocation to Downtown in more than two decades.
The transaction with Coca-Cola dovetails into SunTrust’s corporate-wide effort to develop its workspaces into more flexible, collaborative and technology-enabled environments. The tools deployed as part of this effort permit SunTrust to more efficiently utilize space throughout its footprint, including within the SunTrust Plaza/Gardens complex. Through enhancements to the property and more efficient use of the space, SunTrust was able to relocate all of its employees housed in the Coca-Cola leased space within its Downtown Atlanta campus, further illustrating its commitment to Downtown.
“I am pleased to present SunTrust with the Downtown Economic Impact Award,” said AJ Robinson, President of CAP. “Their work in bringing 2,100 new employees to Downtown is a big win for the area and is certain to have lasting results that will benefit the community as a whole.”