April 15, 2019
CommonGrounds Workplace signed a 13-year lease for 49,506 square feet at Franklin Street Properties Corp.’s 999 Peachtree Street Northeast in Atlanta. The deal includes two full floors of the 28-story building, which is located in the Midtown Atlanta submarket.
The lease with the enterprise-grade Workplace-as-a-Service (WaaS) company represents its second collaboration with Franklin Street Properties. CommonGrounds signed a lease for 27,478 square feet at 801 Marquette Avenue South in Minneapolis in late 2018.
This is the first CommonGrounds Workplace lease to be signed in 2019 as part of the company’s $100 million Series A funding expansion program. A Salt Lake City location opened in March 2019, joining four other U.S. locations currently open. The Atlanta Peachtree CommonGrounds Workplace is scheduled to open in Q1 2020.
Savills’ Andrew Lechter, Jim Suber and Matthew Barnes represented the tenant. Madison Marquette’s Charles “Chip” Roach, Jr., and Stephen B. Clifton advised the owner.
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