After a brief stint in the suburbs, one of the country’s largest cancer-fighting charities has its offices back in downtown Atlanta and wants everyone to notice.
The American Cancer Society on Thursday installed a 43-foot-long sign atop the 22-story office tower at 270 Peachtree St. The charity, which provides support for cancer research and advocacy efforts, began occupying 42,000 square feet across three stories of the high-rise last year, relocating from a single-story office building near Kennesaw.
Beyond adding another logo to Atlanta’s skyline, the relocation is a much-needed lease signing for downtown as its office sector tries to recover from the COVID-19 pandemic. Nearly a third of all office space in the region is either vacant or otherwise available, a historically high amount.
Metro Atlanta leasing activity has increased in recent quarters, but most of the action has taken place in hot neighborhoods like Midtown or along the Beltline filled with trophy towers.
Downtown, which has emerged as Atlanta’s budget option for office space, has been slower to recover from 2020′s pandemic shutdown. Richard Bowers, president of Richard Bowers & Co., which owns 270 Peachtree and the neighboring tower at 260 Peachtree St., said nonprofits like the American Cancer Society have been bolstering leasing activity in downtown.
“We didn’t set out to attract nonprofits specifically, yet we’re thrilled that the attractiveness of (260 and 270 Peachtree) continues to drive leasing strength and velocity,” Bowers said in a press release. “ … This is all part of downtown’s positive story.”
Credit: Courtesy Richard Bowers & Co.
Credit: Courtesy Richard Bowers & Co.
Founded in New York in 1913, the American Cancer Society moved its headquarters to an office along Clifton Road in 1988. The nonprofit sold the building in 2006 to Emory University and moved downtown into an expansive 274,000-square-foot office at 250 Williams St., which bore the charity’s logo for years.
When the COVID-19 outbreak began, the American Cancer Society vacated the space and shifted its employees to remote work schedules. For its in-office needs, the nonprofit leased about 44,000 square feet — about a sixth of its prior office space — at 3380 Chastain Meadows Parkway along I-575 in Cobb County.
The nonprofit is now an anchor tenant within the 260-270 Peachtree complex, signing a 10-year lease for about $22.50 per square foot. According to real estate services firm CBRE, that’s a sizable discount compared to the average for the region, which was $31.62 at the end of September.
The buildings at 260-270 Peachtree St. are about 80% leased, and its other tenants include Ameris Bank, apartment landlord AMLI Residential, the Georgia Chamber of Commerce and the Nature Conservancy.
Credit: Ben Gray for the Atlanta Journal-Constitution
Credit: Ben Gray for the Atlanta Journal-Constitution
Roughly 150 employees for the American Cancer Society are based out of its new headquarters, now adorned with an LED-embedded blue logo by Denyse Signs.
“We welcome American Cancer Society to our tenant mix and are excited to continue to contribute to downtown’s success as a thriving business district,” Bowers said.
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