The Ardent Companies has increased its stake in Buckhead’s Technology Corridor along Piedmont Road. The real estate investment firm has purchased four buildings in Piedmont Center. The Atlanta based firm now owns the entire complex. Ardent has invested $465 million in Piedmont Center to this point, including the 80% of the complex they owned before this deal.
History
Piedmont Center is a sprawling complex on 50 acres on the north side of Piedmont Road, between Lenox Rd and Rowell Rd. The campus includes 2.2 million square feet of commercial space in 14 mid-rise and high-rise buildings. Construction was begun at Piedmont Center in 1981. Ardent has been renovating various areas of the property since their first acquisitions in 2016.
Buckhead’s Technology Corridor
Ardent had previously moved their headquarters into Building 1 of Piedmont Center. The firm is poised to take advantage of recent zoning changes to add retail and other amenities to the property. Ardent is keen to facilitate the momentum of the Piedmont Rd area as a hub for tech firms. Atlanta Tech Village attracts tech startups and entrepreneurs right around the corner, and Piedmont Center is already home to several tech firms. Ardent will continue to court technology companies to the complex by offering a great location at relatively bargain prices between $29.50 and $37 per square foot.
Going Forward
Piedmont Center will continue to be remodeled and updated to reflect an emphasis on open-air spaces and connectivity. Recent renovations include a pedestrian bridge and free Wi-Fi in common areas. The 1.2 mile nature trail on campus is scheduled to be redone soon. The complex will connect to PATH400, allowing tenants to walk or bike to work, and make easy connections to MARTA. Next door, the new Modera Prominence is bringing hundreds of apartments to the neighborhood, as well as additional retail space. Modera is already tied into PATH400 along Lenox Rd.
Ardent has not released any specific retail or restaurant plans for Piedmont Center, but we will keep you posted as we learn more.
