Marx Modernizing, Redeveloping 207 Peachtree In Downtown Atlanta
Rebranded as The Department Building, the property will offer 48,000 square feet of modern creative office space with historic design features.
GlobeSt.com
By Steve Lubetkin | October 31, 2018 at 05:30 AM
ATLANTA, GA—Marx Realty, a New York-based owner, developer and manager of office, retail and multifamily property across the United States, is undertaking a $10.5 million modernization and repositioning of 207 Peachtree in Atlanta, GA. Marx says its plan keeps the historic building envelope and beautiful Art Deco design elements while creating a new 48,000 square-foot office and retail space within.
In tandem with the renovation plans, Marx Realty plans to reintroduce the historic structure as The Department Building. Originally built in the 1920s, the building was first occupied by Regenstein’s Department Store, a favorite among locals and one of Atlanta’s go to for high-quality fashion. The renovated building will feature 18-foot high ceilings, terracotta barrel vaulted ceilings, fluted columns, and original wood floors. The building also offers expansive loft style floorplates, oversized windows, and a one-of-a-kind rooftop amenity with unobstructed views up and down Peachtree Street and of Stone Mountain. The redesign is being managed by local design firm ASD | SKY.
“Marx Realty is thrilled to announce the reintroduction of the historic Department Building,” says Craig Deitelzweig, president and CEO of Marx Realty. “While maintaining its beautiful original detail and timeless architecture, the dramatic enhancements will welcome a new generation of creative office users to the space, making this a truly unique building that will continue to redefine Downtown Atlanta’s architecture and corporate landscape.”
The building’s renovations will also include new elevators and building systems, as well as a new dedicated lobby, which will highlight the distinctive features from the original historical building. All the renovations embrace the building’s history and make use of period architectural details throughout. The building offers a unique opportunity that blends an authentic historical feel with state-of-the-art office space suitable for today’s technology-driven tenants.
The Department Building’s premier location in the heart of Downtown Atlanta and its iconic historical architecture will also offer a branding opportunity that Marx says is ideal for a single-tenant full-building presence, including a signage opportunity. The building is walking distance from MARTA’s Peachtree Station and minutes from the Downtown Connector and I-85. The surrounding neighborhood is rich in amenities and offers abundant parking. The renovated building joins several other important landmarks in the Downtown area including SunTrust Plaza, the Center for Civil and Human Rights, the Georgia-Pacific Center, and the Westin Peachtree Plaza.
“Buildings with this type of character are in high demand in Atlanta and rarely exist,” says Deitelzweig. “We have renovated this building in a manner that enhances the original detail of the building while elevating the space to appeal to today’s creative and technology tenants.”
Marx named Jones Lang LaSalle’s Jeff Belamy and Liz Koteles to handle marketing and leasing.
“The Department Building will appeal to users in the 5,000 – 30,000 square feet range seeking efficient, creative office space in a unique environment,” says Bellamy, a JLLmanaging director.
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