PMRG WINS LEASING ASSIGNMENT OF RECENTLY ACQUIRED PERSHING PARK PLAZA IN ATLANTA

ATLANTA, GA – PMRG announced today it has been tapped by Franklin Street Properties Corp. (NYSE MKT: FSP) (“FSP”), a Wakefield, Mass.-based office REIT, to handle leasing at Pershing Park Plaza, a nine-story, 160,000-square-foot, Class A office building located at 1420 Peachtree St. N.E. in Atlanta. The building was acquired by a wholly-owned subsidiary of FSP in August 2016 for approximately $45.5 million.  

Chip Roach and Stephen Clifton of PMRG are handling leasing for the asset. 

“The Midtown submarket continues to see unprecedented rental growth due to increased company interest and a lack of new speculative development,” said Chip Roach PMRG Executive Vice President and Atlanta market leader. “Pershing Park Plaza is well positioned to remain a crown jewel of the area especially with Franklin Street Property Corp.'s commitment to the property.”

Ideally located at the Gateway to Midtown Atlanta, Pershing Park Plaza has easy access to both I-75/I-85 and is only two blocks north of the Arts Center MARTA rail station, offering both excellent access and a high walkability factor. The building is approximately 97 percent leased to several high profile companies including international law firm, Jones Day.  Pershing Park Plaza is walking distance to Atlanta’s arts district, restaurants, retail and thousands of new residential units which have been recently delivered or are currently under construction.

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.