ATLANTA — Online auto classified provider AutoTrader.com has signed a letter of intent to consolidate its operations within Atlanta's Perimeter Summit office park. According to spokesman Mark Scott, the company plans to occupy 3003 Perimeter Summit, an 18-story, 390,000-square-foot, Class A office tower located at 3003 Summit Blvd. Terms of the lease are still being negotiated, but AutoTrader would relocate 1,200 to 1,400 employees to Perimeter Summit, meaning the company would need to lease most of the building.
“We had been looking for quite some time for a real estate solution that would accommodate both our current situation and some potential growth in the future,” Scott says. “We've grown at about 20 percent a year for the last 10 years that we've been in business, and, although this is a flat year, we anticipate growth going forward.”
Scott adds that in making the decision it was also important for AutoTrader to be in a single building. The company is currently spread across several nearby buildings, including its current headquarters building within Peachtree Dunwoody Pavilion at 5775 Peachtree-Dunwoody Rd.
CB Richard Ellis is responsible for leasing Perimeter Summit, which is owned by GE Asset Management. Autotrader.com is owned by locally based media company Cox Enterprises. The date the lease is expected to be signed was not disclosed.
— Coleman Wood