GE Vernova Chooses Piedmont Office Realty Trust, Inc.'s Atlanta Galleria for New Strategic Hub
October 30, 2023 at 04:15 pm EDT
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Piedmont Office Realty Trust, Inc. announced that it has signed a new 77,000 square-foot lease through 2036 with GE Vernova, a planned 2024 spinoff of General Electric Company that will focus on electrifying the world while simultaneously working to decarbonize it. The company has selected 600 Galleria Parkway, a LEED-Gold designated property and one of five buildings owned by Piedmont in Atlanta's Galleria on the Park, as one of its strategic U.S. locations. Conveniently and uniquely connected to Truist Park and The Battery by a pedestrian bridge, Galleria on the Park's 2.1 million square feet include five office buildings and three development sites surrounding a 6-acre, centrally located park, all with skyline views and with prominent visibility and direct access to major thoroughfares, I-75 and I-285.
Since consolidating the ownership of The Galleria in 2019, Piedmont has been focused on enhancing the entire 20-acre project with the creation of a mixed-use setting offering tenants a differentiated nature of work including new food and beverage operators, a 10,000 SF on-site fitness facility - Ironworx Studio, employee engagement programming, transformed hospitality-infused building lobbies, and expansive conference facilities and outdoor collaboration spaces. Combined with convenient access to the Battery and Renaissance Waverly Hotel & Cobb Convention Center, as well as prominent signage opportunities facing I-75 and I- 285, Galleria on the Park effortlessly connects to the vibrancy of the neighborhood and offers an unparalleled employee experience to its tenants. Piedmont focuses on building amenity-rich office environments (exper experiences) similar to Atlanta's Galleria on the park throughout its portfolio.
Piedmont Office Realty Trust, Inc. is a fully integrated, self-managed real estate investment trust (REIT). The Company is an owner, manager, developer, redeveloper, and operator of Class A office properties located primarily in major United States Sunbelt markets. The Company conducts business through its wholly owned subsidiary, Piedmont Operating Partnership, L.P. (Piedmont OP). It owns and operates about 51 in-service office properties comprised of approximately 17 million square feet of primarily Class A office space which are 87.1% leased. It has one redevelopment asset comprising about 127,000 square feet in Orlando, Florida. The Companyâs portfolio of properties is primarily located in various metropolitan areas, including Atlanta, Dallas, Northern Virginia/Washington, D.C., Boston, Orlando, Minneapolis, and New York, and others.