WRS Inc. has hired commercial real estate firm JLL to market the vertical development opportunity for Block One at Underground Atlanta, a 1.9-acre block along Peachtree Street at the NW Corner of Pryor and Upper Alabama, immediately adjacent to MARTA’s Five Points Station.
Block One is part of the redevelopment for the four-block transformation of the downtown mixed-use development.
The vision is to include residential, office, retail, and a “higher-density hotel” in Block One.
“We believe our repositioning efforts of the existing 239,000 [square feet] will provide a rich commercial and cultural amenity base that will appeal to future downtown residents and visitors alike,” Steve Howe, WRS Inc.’s COO, said in a press release Friday.
“With recent major deals including Georgia Power’s 760 Ralph McGill Blvd sale to New City Properties and Sotherly Hotels 693 Peachtree sale to JPX Works for the Lilli Midtown project, JLL has been on our radar as the firm that could handle this type of project…”
JLL’s Scott Cullen and Mark Lindenbaum, who lead the firms’ Land & Development Services platform, will oversee the marketing, developer selection, and air rights process for the property.
Block One is zoned within the high-density SPI 1 Downtown District. The site will also have direct tunnel access into MARTA’s Five Points Station.
Construction earlier this year began on Block Three.
