Subleases Come In All Sizes

Sublease Right Prescription for Guardian

Pharmacy Services Company to Relocate HQ to Atlantic Station

Guardian Pharmacy Services found the right prescription for its headquarters needs.

The company that provides pharmacy services to long-term care facilities just inked a sublease for 25,250 square feet at 171 17th St. in Atlantic Station. Guardian will relocate its headquarters from 1776 Peachtree in the Brookwood area, where owner Brad Smith is making major upgrades to the building and its rents.

Guardian is subleasing the 14th floor at 171 17th from brokerage giant Cushman & Wakefield, which inherited the space as part of its merger with Cassidy Turley. Cushman & Wakefield now has its Atlanta offices at 1180 Peachtree.

The new space will provide Guardian with an “opportunity to provide a workplace environment that will enhance the effectiveness of our organization,” Guardian Pharmacy Services CEO Fred Burke said.

The 22-story, 533,259-square-foot 171 17th St. tower was the first office building to deliver at Atlantic Station. Built in 2004, the high-rise was then called SouthTrust Tower, the anchor tenant at the time. Through a pair of acquisitions, Wells Fargo now has the space and its name is atop the tower.

“Guardian had outgrown its existing premises, and the 171 17th space, which could no longer accommodate all of [Cushman & Wakefield’s] requirements, was a beneficial sublease for both parties,” said Cushman broker Sam Hollis. He and partners Ken Ashley and Whitney Hembree represented Guardian in the sublease.

The Guardian deal is another win for Atlantic Station, the mini-city created at the site of the former Atlantic Steel plant.

When Atlantic Station and financial partner AIG Global Real Estate Investment Corp. developed 171 17th St., it was unknown how major financial and legal firms would respond to Class A office space across the Downtown Connector Midtown proper. But leasing efforts led by legendary Atlanta developer Charlie Brown and his son Scott Brown proved successful as they landed SouthTrust, law firm Arnall Golden Gregory and others at the new tower.

Since 171 17th opened, two other office towers – 201 and 271 17th – have been developed. As reported in April, Hines later this month will start on the first new office building at Atlantic Station in a decade. Hines also plans to start a second office building at the development by year-end.

 

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