Newmark Grubb Knight Frank (NGKF) culminates tenant representation for PGi., the world’s largest dedicated provider of collaboration software and services, with long-term lease commitments for its corporate headquarters in Atlanta. Together, the deals total approximately 70,000 square feet in the Terminus 100 office tower in Buckhead and the GA 400 Center in Alpharetta.
Vice Chairman Patrick Duffy and Managing Director Taylor Senter advised PGi on the project, which includes lease extensions through 2028, an expansion at GA 400 Center that nearly doubles its previous space and a complete redesign of both corporate offices.
“PGi sought to improve operational efficiencies and support the company’s culture,” Duffy said. “As a result of our process, we were able to adapt the current locations to meet all of PGi’s goals.”
Atlanta-based companies own both buildings involved in the projects. Cousins Properties (NYSE: CUZ) owns the 1.2 million-square-foot, mixed-use Terminus development, and TPA Group recently acquired GA 400 Center.
“Buckhead and Alpharetta are both strategic markets for PGi, so while we did consider alternative locations as well as consolidating the offices, in the end Cousins and TPA Group provided a compelling transaction structure that aligned well with our objectives,” Senter said. “These offices will augment the company’s long-term business strategy in Atlanta and globally.”
“PGi’s reputation as one of the most respected corporate brands in Atlanta makes them an ideal customer for Cousins and Terminus 100,” said Bill Hollett, senior vice president of leasing at Cousins Properties.
Gensler, a leading design firm and PGi’s national provider, will upgrade the firm’s headquarters.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.