With Pulte’s Lease, Capital City Plaza Fills Up

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After months of speculation, PulteGroup Inc. will put its headquarters in Capital City Plaza. Pulte, who was originally headquartered outside of Detroit, has signed a 101,000 SF, 195-month deal in the 17-story tower on Peachtree. Although Central Perimeter attracted a lot of attention from the home-building company, Buckhead emerged as the front runner in the race to find Pulte a home. Two Live Oak and Atlanta Plaza heavily pursued Pulte, but in the end they decided to sign a long lease with major concessions at Capital City Plaza.

Pulte’s 101,000 SF lease and several smaller leases, such as BlueCross BlueShield’s 29,000 SF expansion, brings Capital City Plaza to 99% leased. With big renewals and expansions by The University of Georgia Board of Regents as well as Georgia State that brought Tower Place 200 to 92% leased, Parkway Properties is essentially out of room in Buckhead, which is a good problem to have. Company reps say that their Buckhead buildings are out-performing the Class A and Class AA occupancy rates so far this year.

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