Jamestown Delivers Atlanta Mass-Timber Office Building
Jamestown has completed 619 Ponce, a 115,000-square-foot Class A office building in Atlanta’s Old Fourth Ward. The development is part of the second phase of the Ponce City Market adaptive reuse project.
The development of Ponce City Market started in 2011, when Jamestown purchased the former Sears location for $27 million. The 3 million-square-foot community hub opened in 2015.
Additional plans for the project’s second phase include Scout Living and Signal House, both multifamily projects. The latter offers luxury apartments and is currently leasing, while Scout Living is a hospitality-inspired community, expected to open later this year.
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The four-story 619 Ponce is Atlanta’s first office building to be made entirely of locally sourced mass timber, all lumbered from Jamestown-owned forests located around Columbus, Ga. Construction was done on-site by JE Dunn and StructureCraft, adjacent to Ponce City Market.
Designed by Handel Architects, 619 Ponce includes outdoor space, a rooftop courtyard, with spaces featuring floor-to-ceiling windows with moveable panels. Jamestown is targeting net-zero carbon emissions, alongside LEED and Fitwel certifications. The efforts are part of a larger company-wide goal of achieving net zero operational carbon by 2050.
The Silicon Valley of the South
Last June, British software giant Sage signed a lease for 57,000 square feet at 619 Ponce, relocating its North American headquarters from the Atlanta suburb of Lawrenceville, Ga. The firm plans to complete its move in the fall of this year.
Pottery Barn is also currently leasing 18,000 square feet on the building’s ground floor, where it also offers product design and installation services. According to CommercialEdge information, 619 Ponce has a total of 27,000 square feet of retail space. The same source shows that CBRE handles leasing at the property.
Located adjacent to the Ponce City Market at the corner of Ponce de Leon Avenue and Glen Iris Drive, 619 Ponce faces the Atlanta BeltLine and is roughly 2 miles northeast of Downtown Atlanta.
Like several other cities in the South, Atlanta is experiencing a tech boom. CommercialEdge’s recent report shows that the city had the third largest pipeline in the region, with 3.5 million square feet of office space under construction as of March. The metro’s vacancy rate stood at 17 percent, down 380 basis points year-over-year.
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