Economic Development News (Atlanta, East Point, Dunwoody: 2014, hotel, transfer)

[MichiganderTexan]

Originally Posted by First24

Morgan Stanley Moving to Suburban Atlanta
https://www.bizjournals.com/atlanta/...n-atlanta.html

Not sure what Morgan Stanley is moving here. Whether it’s just a regional office or something more significant.

Sounds small as they are just taking over a we-work space.

[First24]

Target to open new supply chain facility in Lawrenceville

Target is going to open a new supply chain facility in Lawrenceville, Partnership Gwinnett and the Georgia Department of Economic Development announced Thursday.

Officials said Target is moving into a 367,060-square-foot new construction supply chain facility located at 2520 Riverside Parkway.

https://www.gwinnettdailypost.com/lo...6d7aaa48c.html

[ShenardL]

Visa expects to employ 1,000 tech, client services workers at 1200 Peachtree.

Citing Atlanta’s robust talent pool and reputation for financial tech expertise, Visa announced today it plans to open a new Midtown office that will eventually house about 1,000 employees along Peachtree Street.

It’s the latest tech-job win for Midtown—where Google, Microsoft, Airbnb, and other technology companies have all built or announced new hubs—and another notch in Atlanta’s relatively strong office market recovery during the COVID-19 pandemic.

Visa’s new offices will constitute about one-third of the 1200 Peachtree building where railroad company Norfolk Southern has long been headquartered, adjacent to the Woodruff Arts Center, High Museum, and Atlanta Symphony Hall.

https://urbanize.city/atlanta/post/m...achtree-street

[First24]

Carvana Subleasing Nearly 600K SF From State Farm In Atlanta

The sublease is a gargantuan expansion for Carvana, with an Atlanta footprint that currently comprises 7,400 SF at Brickworks in West Midtown and 5,600 SF at Piedmont Center in Buckhead, according to Colliers, citing CoStar data.

Carvana opened a 12-story automobile vending machine in Midtown last year, the tallest of its kind in the country.

While Carvana CEO Ernie Garcia made no comments on the most recent earnings call about any office expansion plans, he did say the company was aggressively hiring employees. Given average square-foot-per-employee ratios of 200 SF per employee, Carvana could bring more than 2,500 employees to the State Farm campus.

https://www.bisnow.com/atlanta/news/...-campus-110382

[JMatl]

Originally Posted by First24

Carvana Subleasing Nearly 600K SF From State Farm In Atlanta

Unreal. This will be one of the largest deals in the U.S. this year for office space.

[First24]

Originally Posted by JMatl

Unreal. This will be one of the largest deals in the U.S. this year for office space.

This is in addition to Carvana's already massive Atlanta footprint. It's like they're making Atlanta their HQ2.

[JMatl]

Originally Posted by First24

This is in addition to Carvana's already massive Atlanta footprint. It's like they're making Atlanta their HQ2.

That's what it sounds like....and similar to Visa with Norfolk Southern's space yesterday, State Farm wasn't looking to sublease - Carvana approached them. This indicates how high the demand is here for quality office space. Nice problem to have.

[First24]

Another tech startup is setting up shop in Ponce City Market.

Great to see Atlanta's startup community picking up momentum.

India-based education technology startup upGrad is looking to build on the legacy of Mailchimp and other successful Midtown startups with its new Ponce City Market office.

The startup is investing much of the $185 million it raised earlier this year into an expansion into the United States. UpGrad partners with universities to adapt graduate degrees to online formats. Georgia’s robust university system and its talent pool of former and current startup employees made Atlanta a perfect fit.

It helps that Karan Raturi, the North American general manager, is a Georgia Institute of Technology graduate.

“The startup journeys and stories we’ve seen in Atlanta have created this incredible pool of product engineers, business development executives or marketing executives,” Raturi said. “We can tap into that pool at a cost structure that’s favorable within the U.S.”

Ponce City Market and the surrounding office buildings have emerged as a hotspot for tech companies that want to be close to Georgia Tech’s Technology Square innovation district and the amenities along the Eastside BeltLine Trail.

https://www.bizjournals.com/atlanta/...ty-market.html

[Born 2 Roll]

Northeast Georgia Medical Center is permanently expanding its critical care capacity at its Gainesville and Braselton campuses as a result of issues highlighted during the COVID-19 pandemic.

Northeast Georgia Health System faced a rapid demand for critical care beds a few times during the pandemic, mostly during the Delta variant wave, resulting in its locations being pushed to the limits in terms of capacity at times. The expansion, which will add six additional critical beds at the Braselton campus and 14 additional beds at the Gainesville campus, is being described by hospital officials as a "positive legacy" of the COVID-19 pandemic.

Northeast Georgia Medical Center announces permanent increase in critical care capacity for post-COVID-19 era (Gwinnett Daily Post)

[First24]

A South Korean company will build a factory to make glass parts for computer chips east of Atlanta, investing $473 million and hiring 400 workers.

https://www.usnews.com/news/best-sta...ant-hiring-400

The Korean conglomerate is also building a $2.6 billion complex to make batteries for electric vehicles in Commerce, northeast of Atlanta.

Atlanta/Georgia’s Korean connection keeps paying off.