Newmark announced today it represented healthcare logistics company Owens & Minor for a 66,917-square-foot lease agreement at The Edison, a new 215,000-square-foot office campus located off Edison Drive in Alpharetta, Georgia. Owens & Minor plans to relocate from its current office at 5405 Windward Parkway to occupy two floors at 1 Edison, which is expected to open this winter.
The Edison features two, two-story Class A office buildings surrounded by abundant greenspace and outdoor work areas. The project also includes a centrally located, 5,000-square-foot tenant clubhouse with a fitness center, meeting and lounge spaces, and a café that offers food and beverage services. In addition to the onsite amenities, The Edison is within walking distance to a variety of retail and dining options and Big Creek Greenway. The campus is also less than five minutes from Avalon, Alpharetta’s vibrant mixed-use destination.
The deal is one of the largest completed in the Alpharetta submarket for 2019. Newmark Vice Chairman Adam Faulk and Senior Managing Director Aaron Sommer represented the tenant, Owens & Minor.
“Space efficiency, real estate costs and luxury amenities were all key factors that led Owens & Minor to select The Edison as its new home,” said Sommer. “We are seeing a significant increase in tenants that are relocating to office environments with a variety of communal spaces for employees to get a change of scenery and work outside of the confines of traditional office space. With its onsite clubhouse and lounge, immediate access to Big Creek Greenway and proximity to Avalon, The Edison checks all these boxes and provides the ideal workplace for the next chapter of growth at Owens & Minor.”
Development company TPA owns The Edison, which can accommodate up to 1,000 employees. It’s one of just a handful of new office campuses built in Alpharetta since 2000.
“The convenient location and amenity package at The Edison set it apart from the other options we saw in the market,” said Wayne Dishman, Director, Corporate Real Estate at Owens & Minor. “We were thrilled that Newmark was able to help us find a state-of-the-art space that aligned with Owens & Minor culturally and reflected our strategy for the future.”
According to Newmark Research, Metro Atlanta’s office market rebounded in the first half of 2019 as fundamentals remained positive and new tenant demand increased. Flexible office space and proximity to amenities and transportation options remained important to tenants looking at new space. This spurred many relocations within the second quarter, with several recent large transactions consisting of tenants moving into newer space that allows for greater density and efficiency within the office.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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