Bridge Commercial Real Estate Inks Second-Largest Lease in Atlanta Metro at Lenox Park, Brookhaven, Georgia
May 10 2024 - 8:15AM
Business Wire
Deal increases building occupancy in two
buildings to 100% as telecommunications giant solidifies presence
at Metro Atlanta Hub
Bridge Commercial Real Estate (BCRE), a commercial brokerage
subsidiary of Bridge Investment Group (Bridge), confirmed today it
executed a combined new 205,761 square foot office lease at 1055
and 1057 Lenox Park, two four-story, 104,234-square foot Class A
buildings located in Brookhaven, Georgia near Atlanta, in the
second-largest deal year-to-date in the Atlanta metro area. The
32-acre mixed-use office campus is now AT&T’s largest operating
hub in Metro Atlanta, marking the latest chapter in a relationship
that spans nearly two decades.
Since its acquisition in 2018, Bridge has successfully executed
690,000 square feet of leases at Lenox Park, including 327,000
square feet in the last 12 months. The transactions leave only one
building available for leasing, 2180 Lake Blvd, containing 350,000
square feet.
“The robust leasing over the last few years has allowed us to
sell the 1025 building and allowed us to successfully complete a
new $38 million loan facility with Dry Creek that provides the
capital we need to finish the tenant outfit with the recently
signed leases and complete our business plan at Lenox Park,” stated
John Ward, Chief Investment Officer for Bridge Office Fund I, which
owns the property.
Bridge Commercial Real Estate’s CEO Jeff Shaw represented the
landlord in these transactions. Mark Davenport with CBRE
represented AT&T.
Jeff Shaw, CEO of Bridge Commercial Real Estate, said “Lenox
Park’s unparalleled amenities and transformative repositioning are
a testament to the property’s ability to thrive and capture new
demand amid a time of uncertainty across the broader office
market.”
Acquired in 2018, Lenox Park is a 1,040,000 square foot campus
which has undergone a transformative repositioning, with added
amenities, including a food and beverage building, central
courtyard, outdoor meeting spaces, game areas, and entertainment
activation space. Lenox Park sits within Brookhaven, just one mile
from Buckhead’s central business district, and offers immediate
access to I-85, GA 400 and Peachtree Road, including Lenox Square
Mall, Phipps Plaza and numerous hotels and food destinations.
“The City Council and I are grateful to our city staff and
Bridge for facilitating investment in Lenox Park and Brookhaven,”
said Brookhaven’s Mayor John Park. “This just goes to show that the
City of Brookhaven is on the right track in helping maintain a
strong office market, and we’re a great place to live, work, and
play.”
To learn more about Lenox Park, visit www.lenoxparkatl.com. For
more information about Bridge Investment Group, visit
www.bridgeig.com.
About Bridge Investment Group (“Bridge”) Bridge is a
leading alternative investment manager, diversified across
specialized asset classes, with approximately $48.0 billion of
assets under management as of March 31, 2024. Bridge combines its
nationwide operating platform with dedicated teams of investment
professionals focused on select U.S. verticals across real estate,
credit, renewable energy and secondaries strategies.
About Bridge Commercial Real Estate (“BCRE”) BCRE
is an established player in the U.S. commercial office market that
specializes in creating desirable, next-generation work spaces.
BCRE provides world-class commercial office brokerage services,
property management, accounting and commercial construction
services for Bridge Office assets. With a proven blueprint that
delivers long-term value for tenants and investors, our portfolio
includes office properties uniquely positioned in dynamic,
high-growth markets across the U.S. and continues to grow. We are
laser focused on how companies work today – and will work tomorrow.
Headquartered in Atlanta, Georgia and Salt Lake City, Utah, BCRE is
a subsidiary of Bridge Investment Group Holdings LLC.
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Media: Charlotte Morse Bridge Investment Group
Charlotte.Morse@bridgeig.com