The Cumberland/Galleria office park comprised of two Class A towers known as Paces West is scheduled for a face lift. Owner TIER REIT Inc. announced a joint venture with a LA-based Oaktree Capital Management. The 649,000 SF property, anchored by Piedmont Healthcare, already features a full-service café, fitness center, conference facility, and 24-security. However, as part the recapitalization efforts, Paces West will receive upgrades such as new signage and common area, bathroom, and landscaping renovations.
These planned renovations have caused a spike in leasing activity in the two towers. Jones Lang LaSalle, who is leading the leasing efforts, has recently secured renewals with BT Americas, The Scotts Co., and MOL America as well as a new lease with Samsung Electronics.Share