Buckhead
Buckhead is the uptown commercial and residential district of the city of Atlanta, Georgia, comprising approximately the northernmost fifth of the city. Buckhead is the third largest business district within the Atlanta city limits, behind Downt ...
,
Atlanta
Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...
. It is adjacent to the
Phipps Plaza
Phipps Plaza is a shopping mall in the Buckhead district of Atlanta, Georgia. It is located at the intersection of Peachtree Road ( SR 141) and Lenox Road (SR 141 Connector), adjacent to the Phipps Tower office building. The mall is currently ow ...
Atlanta Business Chronicle
The ''Atlanta Business Chronicle'' is a weekly newspaper covering business news in Atlanta, Georgia, published by American City Business Journals. The paper has both a weekly print edition and an online edition.
History
The ''Atlanta Business ...
''. December 14, 2012. Updated on December 17, 2013. Retrieved on May 23, 2013.
John Hancock Life Insurance Company
John Hancock Life Insurance Company, U.S.A. is a Boston-based insurance company. Established April 21, 1862, it was named in honor of John Hancock, a prominent American Patriot.
In 2004, John Hancock was acquired by the Canadian multinational li ...
Atlanta Business Chronicle
The ''Atlanta Business Chronicle'' is a weekly newspaper covering business news in Atlanta, Georgia, published by American City Business Journals. The paper has both a weekly print edition and an online edition.
History
The ''Atlanta Business ...
''. October 12, 2012. Updated October 22, 2012. Retrieved on May 23, 2013. It is on a plot of land.
History
In 2007, Crescent Resources announced that it wanted to construct an office tower in Buckhead possibly named Phipps Tower. Manulife Financial Corp. and Crescent Resources designed the building. The building was constructed in 2010. Douglas Sams of the ''
Atlanta Business Chronicle
The ''Atlanta Business Chronicle'' is a weekly newspaper covering business news in Atlanta, Georgia, published by American City Business Journals. The paper has both a weekly print edition and an online edition.
History
The ''Atlanta Business ...
''. said that the announcement of plans to build the tower "raised eyebrows among Atlanta commercial real estate execs" due to concerns that there is too much office space on the market.
In March 2010
Northwestern Mutual
Northwestern Mutual is an American financial services mutual organization based in Milwaukee, Wisconsin. The financial security company provides consultation on wealth and asset income protection, education planning, retirement planning, investm ...
was considering leasing space in the tower. By June of that year the company was completing a leasing deal at the tower. In June 2010, Speakeasy Inc. was the tower's sole tenant, leasing about , and the tower was 3% leased.
In October 2012 the ''Atlanta Business Chronicle'' reported that Carter's Inc. was likely to lease in the Phipps Tower for its headquarters. In October 2012
CoStar Group
CoStar Group, Inc. is a Washington, DC-based provider of information, analytics and marketing services to the commercial property industry in the United States, Canada, the United Kingdom, France, Germany, and Spain. Founded in 1987 by Andrew C. ...
announced that its Atlanta office was moving to the Phipps Tower. It had signed a lease for for 11 years.Sams, Douglas. Phipps Tower lands CoStar Group " ''
Atlanta Business Chronicle
The ''Atlanta Business Chronicle'' is a weekly newspaper covering business news in Atlanta, Georgia, published by American City Business Journals. The paper has both a weekly print edition and an online edition.
History
The ''Atlanta Business ...
''. October 22, 2012. Retrieved on May 23, 2013.
In December 2012, Carter's Inc. announced that it was moving its headquarters from The Proscenium in
Midtown Atlanta
Midtown Atlanta, or Midtown, is a high-density commercial and residential neighborhood of Atlanta, Georgia. The exact geographical extent of the area is ill-defined due to differing definitions used by the city, residents, and local business ...
. The lease of of space is one if the largest headquarters leases to have occurred to date. The estimated value if the lease, except for concessions and escalation, was $70 million.
The company consolidated its out of state jobs into the new facility, with 200 additional jobs going to Buckhead. Manulife Financial Corp owns both the Proscenium and the Phipps Tower so Carter's terminated its lease early in one building and moved to the other.
Colliers International
Colliers is a Canada-based diversified professional services and investment management company with approximately 18,000 employees in more than 400 offices in 63 countries.
The firm provides services to commercial real estate users, owners, inv ...