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

Headquartered in Houston, Texas, PMRG is one of the nation’s leading real estate companies focusing on comprehensive property services, development and acquisitions. With a strategic presence in 30 markets, PMRG provides the highest quality services to its clients and investors. PMRG’s clients and investors include large financial institutions, advisors and high net worth individuals. By capitalizing on the team’s experience and expertise, PMRG has the ability to undertake large and challenging management, leasing, development and acquisition projects.

PMRG’s portfolio, including projects managed for third parties, includes commercial office buildings, mixed-use centers, corporate headquarters, industrial buildings, medical facilities, high-rise multifamily buildings and re-appropriated military facilities.

Our goal is to generate exceptional returns for our clients and investors by focusing on real estate fundamentals. For additional information, visit www.pmrg.com.