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Sep 18, 2009

GABLES RESIDENTIAL MOVING HQ TO THE LENOX BUILDING

PM Realty Group Represents ING Clarion in Full-Floor Deal
 
ATLANTA, GA - Gables Residential has signed a full-floor lease at The Lenox Building in Buckhead and will move its headquarters to the tower this fall, according to PM Realty Group, which markets and leases space in The Lenox Building.

Gables Residential signed a 10-year lease for about 21,000 square feet in the building at 3399 Peachtree Road, said Dean Giordano, senior vice president for PM Realty Group. Billy Hobbs and Jason Jones with CRESA Partners represented Gables Residential.

Gables will relocate from its current headquarters in Overlook III, an office tower atop Mt. Wilkinson in Vinings. Gables, which owns, develops and manages luxury apartment communities, chose The Lenox Building because of its convenient amenity base and convenient access to MARTA and Ga. 400.

David Fitch, CEO of Gables Residential, said the convenience of doing business at The Lenox Building and The Lenox Building's well-capitalized ownership made it an attractive option for Gables. "As a company that prides itself on offering inviting places to live with extraordinary services, we look for similar attributes in a new headquarters," said David Fitch, CEO of Gables Residential. "We found these in The Lenox Building." The Lenox Building is a 20-story, 350,000-square-foot Class A office tower in Atlanta's Buckhead submarket. The tower, owned by one of ING Clarion's separate account pension fund clients, is connected to the Lenox Square Mall and the JW Marriott hotel.

The Lenox Building's reputation as an ideal location for corporate headquarters, said Giordano, who represents ING Clarion. "The Lenox Building has a history of being home to headquarters of Atlanta companies," Giordano said. "The owner is pleased to have a company such as Gables Residential added to the tenant roster at The Lenox Building." Gables Residential is a private REIT that owns 72 apartment communities with 18,000 units, and manages more than 20,000 apartment homes for third party owners.

About PMRG

PMRG merged operations with Madison Marquette in June 2018 to create a new leader in commercial real estate. The firm offers PMRG’s leasing, property management, investment management and development services, combined with Madison Marquette’s specialized development, investment and marketing expertise. Madison Marquette’s strength in retail and mixed-use assets joins PMRG’s office, medical, industrial and multi-family capabilities to provide national leadership across asset classes. PMRG’s dominance in the southern US combines with Madison Marquette’s presence in primary gateway markets on both coasts to serve the top institutional owners and investors in the industry. The company provides leasing and management services to a diverse portfolio of 330 assets in 24 states and manages an investment portfolio valued at over $6 billion. The combined company is headquartered in Washington, DC with a major presence in Houston, TX. With 600 professionals in 12 regional markets, the merged firm is a member of the Capital Guidance group of companies.