DULUTH, GA. — NCR has signed a lease with Franklin Street Properties Corp. for 120,000 square feet of office space in Duluth. The Class A property is located at 700 Satellite Place. John Ferguson and John Shlesinger of CB Richard Ellis’ Atlanta office represented NCR in the lease; Sara Smith and John Bell of Crescent Resources represented the landlord. Terms of the lease have not been disclosed.
The 132,870-square-foot office building is the perfect location for NCR, according to Peter Tulupman of NCR’s New York office. “It’s very close to where our current location is, and it’s going to enable the current and new locations in Duluth to function as one campus to accommodate the needs of NCR’s new global headquarters in Duluth,” he says.
“Upon their announcement in June, they were actively seeking a new home that had a headquarters feel, something that looked like they would be proud to be in,” says Lauren Salas of the Gwinnett Chamber. “That’s definitely what they’ve found in the location they’ve chosen.”
NCR’s lease is a significant deal in the current Duluth office market, and Salas thinks the move will help jumpstart office activity. “We’re really fortunate to have them occupy this space because we don’t have very many other large amounts of Class A square footage,” Salas says. “I hope that with them filling this up … this would spur new Class A development long term in the next 3 to 4 years.”
— Jon Ross