Transwestern Real Estate Services (TRS) announces its Atlanta Agency Leasing team has negotiated a nine-year, 53,188-square-foot lease at 4855 Peachtree Industrial Blvd. in Peachtree Corners, Georgia, with Technicolor. The transaction, which brings the two-building, 163,231-square-foot office park to 92% occupancy, was the largest new lease completed in the Peachtree Corners submarket in 2020. Transwestern Senior Managing Directors Stephen Clifton and Zach Wooten provide exclusive leasing services for the property on behalf of owner Icarus Alternative Investments.
“Technicolor’s leadership was attracted to the office park’s high-quality, flexible ownership, and the ability to create a workplace environment that fosters talent retention and recruitment,” said Wooten.
To provide Technicolor with the amount of square footage the company needed, Transwestern identified an opportunity to reconfigure an existing tenant’s underutilized space. Transwestern successfully relocated the tenant to a right-sized office within the building and renegotiated the lease, adding five years to the term.
“We were able to meet the needs of both Technicolor and an existing tenant, providing each with the ideal amount of space that works for their circumstances while adding value to the landlord’s real estate investment,” said Clifton.
4855 Peachtree Industrial Blvd. is located within thriving Peachtree Corners, a sought-after submarket for relocations due to affordable commercial real estate costs, convenient access, and abundant area amenities. The office park is adjacent to Starbucks and Dunkin’ Donuts and minutes from Peachtree Corners Town Center and The Forum on Peachtree Parkway.
