A new development by real estate developer Third & Urban is taking the live-work-play environment to a whole new level. The $70 million Armour Yards office project, which broke ground last month, is designed to mirror loft-office developments on the West Coast, with access to jogging and bike trails, lots of natural light, and an “airy, approachable” campus, according to its developers.
Armour Yards is located in what has historically been known as a railroad junction and industrial park near I-85 and the SweetWater Brewing Company. The area is transforming into what is now known as the SweetWater Design District, a community of businesses and organizations. Third & Armour purchased four warehouses there on Ottley Drive to create a loft-office experience that goes “beyond brick walls and exposed ceilings” and emphasizes a natural environment in a park-like setting.
With this in mind, the developer chose the site partly for its proximity to Piedmont Park, the Atlanta BeltLine (in a future phase) and PATH400. It is also close to Midtown and Buckhead, so it promises to appeal to the TAMI (technology, advertising, media, and information) tenants it’s aimed at.
The Atlanta Business Chronicle points out that the SweetWater Design District lies between several affluent in-town neighborhoods that could someday connect to the Atlanta Beltline. Residential developers, too, are showing interest in sites in the district.
When finished, the development will encompass 275,000 square feet of office space – Third & Urban will close on three more warehouse buildings by year’s end – as well as a coffee shop, “chef-driven” restaurants, various entertainment options (possibly including a music venue), outdoor gathering spaces, a fitness studio, outdoor patio and terrace space, surface and covered parking, bike rentals and storage, and jogging trails.
The buildings’ design will feature “abundant natural light with glass storefronts, curtainwall, glass roll-up doors and skylights,” says the Armour Yards brochure. Tenants will enjoy “ubiquitous access to outdoor space and natural light.” Floor plates will range in size from 42,800 real square feet to 52,600 real square feet, and ceiling heights will go up to 23 feet.
The project has started with a $2.9 million transformation of 120 Ottley Drive, a 45,745-square-foot warehouse, into offices. The building is slated to be finished in February. Additional buildings will be completed on a rolling basis between through the summer of 2016. Smith Dalia Architects and Kronberg Wall are the design firms behind the project.
This project should help to satisfy some of the intense demand for coveted loft-office space in town. (Ninety percent of loft office space in West Midtown, for example, has been gobbled up by eager tenants.) With its resemblance to a college campus, it is sure to attract the younger, hipper set of tenants it seeks. Armour Yards may soon bring new life to an overlooked industrial area that’s been ripe for revitalization.
Blog contributed by Wes Vaughan, Advisor, Cresa Atlanta. Wes is an expert in creative, loft and alternative office spaces in Midtown and Buckhead…as well as all areas of Atlanta. Wes has worked in commercial real estate since 2007. For more information on Armour Yards or other creative space opportunities, Wes can be reached at 404.446.1599 or wvaughan@cresa.com.