Lincoln Property Company Signs New Deal, Lease Expansion at Downtown Atlanta Office Building

Lincoln Property Company (Lincoln) has negotiated a new lease and a lease extension and expansion at 55 Allen Plaza, a 348,658-square-foot office building in Downtown Atlanta. Lincoln’s Senior Vice President Hunter Henritze, Senior Vice President Michael Howell and Vice President Caroline Fisher lease the building on behalf of the landlord.

WinCup, a leading manufacturer of foam disposable cups, bowls, containers and lids, signed a 19,647-square-foot lease at the building. Tim Palmer of Lee & Associates represented the tenant. Also at 55 Allen, global advisory firm CMS Payments Intelligence (CMSPI) expanded its lease from 4,701 square feet to 9,043 square feet and extended its term for an additional two years. Paul Holmes of CBRE represented the tenant in this deal.

“55 Allen offers a sophisticated tenant experience with above-standard amenities and convenient transportation access for companies seeking premier office space in Downtown Atlanta,” said Lincoln’s Henritze. “These two deals underscore the appeal of this building, which our leasing team is proud to represent as one of the top assets in the market. We look forward to welcoming more of Metro Atlanta’s first-rate companies to the Downtown neighborhood, which is continuing to rise as a leading hub for innovative, fast-growing businesses.”

Spanning 14 stories, 55 Allen Plaza features floor-to-ceiling glass windows, enclosed parking, high-level building security, an on-site cafe, auto-detail salon and dry cleaning services on the property. The building was designed by world-renowned architect Pickard Chilton with ultimate efficiency in mind, boasting exposed ceilings and concrete floors throughout. 55 Allen also offers premier access to both Midtown and Downtown Atlanta, proximity to several MARTA stations as well as access both on and off I-75/I-85 via Williams Street.

Earlier this month, Lincoln reported that 55 Allen Plaza was awarded LEED Platinum Certification, a benchmark of sustainable efforts in design, construction and operations practices. The building received an ENERGY STAR score of 94, situating it as the fourth highest ENERGY STAR score recipient in Atlanta. It also marked the first LEED Platinum building within Lincoln’s Atlanta portfolio.

According to a report from Lincoln, Downtown Atlanta saw positive absorption of 99,712 square feet in the third quarter of this year. This marks the second quarter of positive absorption for the submarket. Downtown Atlanta also has 652,871 square feet of development underway with 618,668 square feet of deliveries already completed year to date — the second-most of any submarket in Metro Atlanta.

About Lincoln Property Company

Dallas-based Lincoln Property Company is one of the nation’s largest diversified commercial real estate companies, with over 8,550 employees and an international footprint that includes offices in 450 cities across the United States and two offices in Europe. Since its inception in 1965, Lincoln has developed over 239 million square feet of office, industrial, and retail projects as well as 216,000 apartment units. Stemming from its development and ownership background, Lincoln’s operating platform seamlessly integrates its various service lines, provides for consistent and measurable performance and utilizes cutting-edge technology over its 400+ million square feet of leased and managed assets.