Tidwell Group inks 9,483-square-foot lease for new Atlanta hub as searches for office space surpass pre-pandemic levels
ATLANTA (Aug. 30, 2022) – Bridge Commercial Real Estate, a commercial brokerage subsidy of Bridge Investment Group, announced today it executed a new office lease with Tidwell Group at 1277 Lenox Park, a seven-story, 152,234-square foot Class-A building nestled within the 32-acre mixed-use office campus in Atlanta.
Totaling 9,483 square feet, the seven-year deal solidifies Tidwell Group’s commitment to bolstering its Atlanta hub in the coming years as the fast-growing company enters the next chapter of its growth story. Tidwell Group is a leading accounting and advisory firm specializing in the real estate, tax credit and construction industries. It is relocating the Atlanta team from its current office in Central Perimeter. The company is expected to hire an additional 25-30 new employees after the move is finalized later this fall, with Lenox Park’s lush greenspace, diverse amenity base and closer proximity to the urban core expected to provide an immediate recruiting advantage for young professional talent.
“Our extensive interior and exterior renovations and capital improvements at Lenox Park have created a first-class office environment that reflects Tidwell Group’s passion for its team and return to office,” said Tina Renee McCall, Managing Director at Bridge Investment Group. “We’re thrilled to welcome one of America’s fastest-growing accounting firms to the campus, which continues to serve as a dynamic talent hub for companies of all sizes. Emerging small-to-mid-sized users are driving a lot of the activity right now in both the local and national office market as more businesses place a premium on highly-amenitized buildings that equally value collaboration, wellness and flexibility.”
Bridge Commercial Real Estate’s Jeff Shaw, Kevin Lott, Scott Rees and Trey Weghorst represented the landlord in the transaction. Greg Metcalf with JLL represented Tidwell Group.
"Our senior leadership team has evaluated numerous locations as we continue strategically expanding our tax credit and advisory services. Ultimately, we selected Lenox Park for its location and the incredible array of amenities for our employees," said J. Barry Tidwell, Tidwell Group’s managing partner. "Employees are our greatest asset. It's our goal to attract the best talent in the country and provide a modern and collaborative environment for them to thrive in."
Located adjacent to Buckhead’s central business district and offering immediate access to I-85, Georgia 400 and Peachtree Road, Lenox Park is a 1.1 million-square-foot, Class-A office campus offering a wide variety of options for tenants. Office spaces ranging from 3,000 to 380,000 square feet are available, including spec suites, traditional office space and flexible office space through Abridge, a new flexible-term office program that connects businesses with move-in ready office space while preserving individual brand and workspace.
Acquired by Bridge in 2018, Lenox Park has undergone a $16.8 million transformative repositioning, with added amenities, a full renovation of the courtyard, construction of a food and beverage building and a bridge connecting the 1277 building to the rest of the park. The central courtyard features outdoor meeting spaces, walking trails, game areas, a dog park and entertainment activation space. Lenox Square Mall and Phipps Plaza are just a few minutes from the property, along with numerous hotels and restaurants.
As the return to office continues to slowly increase across the country, new numbers reveal that much of the existing narratives on the future of office may be based more on speculation than actual data. According to a recent survey by CommercialCafe, searches for “office spaces to rent” reached a four-year high earlier this year, with numbers from May 2022 showing that searches have been well above pre-pandemic levels since mid-2020. A desire for more natural light and generous outdoor spaces was listed as the top new preference office users have developed since the pandemic.
“The flight to quality is being fueled by companies that understand the value of having their people together but also realize those workers now have choices in a real war for talent,” said Jeff Shaw, CEO of Bridge Commercial Real Estate. “Office landlords and property managers must create a compelling environment and a better product that responds to the fast-changing preferences of today’s office workers. Firms like Tidwell Group represent the first wave of that movement, and I think we’ll see more of that activity ramp up as we head into the fall and the months beyond.”
To learn more about Lenox Park, visit lenoxparkatl.com/. For more information about Bridge Commercial Real Estate, visit bridgecre-office.com.
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About Bridge Investment Group (“Bridge”)
Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $42.0 billion of assets under management as of June 30, 2022. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease and real estate-backed credit.
About Bridge Commercial Real Estate (“BCRE”)
BCRE is an established player in the U.S. commercial office market that specializes in creating desirable, next-generation work spaces. BCRE provides world-class commercial office brokerage services, property management, accounting and commercial construction services for Bridge Office assets. With a proven blueprint that delivers long-term value for tenants and investors, our portfolio includes office properties uniquely positioned in dynamic, high-growth markets across the U.S. and continues to grow. We are laser focused on how companies work today – and will work tomorrow. Headquartered in Atlanta, Georgia and Salt Lake City, Utah, BCRE is a subsidiary of Bridge Investment Group, LLC