Avison Young Brokers Five-Year Sublease with Instacart at Ponce City Market21 Aug 2018
Tenant to sublease eighth floor of Ponce City Market
ATLANTA – August 21, 2018 – The Atlanta office of Avison Young today announced that it negotiated a sublease for 41,288 square feet of Class A creative loft space at Ponce City Market for Instacart, an on-demand grocery service.
Founded in 2012, Instacart provides same-day grocery delivery service to customers in Atlanta and other major cities.
Phil Barry and Hilton Barry, principals from Avison Young’s Atlanta office, and Steve Cook and Jack Kerrigan, principals from Avison Young’s Boston office, represented the sublandlord in the deal. The Site Selection Group’s Sam Pruitt, along with their Exis Global partner, Michelle Galvani and Shan Morris from Wildmor Advisors, represented the tenant.
“Ponce City Market provides a healthy mix of commercial, retail, restaurant and residential uses, making it an attractive location for Instacart. Ponce City Market has become a favored location for tech firms because the design, amenity base and location on the Beltline help attract top talent,” said Phil Barry.
Ponce City Market, the fully renovated Sears, Roebuck and Company building, opened in 2014 and has become a highly sought-after location, especially for its proximity to neighborhoods such as Virginia-Highland, Midtown, Inman Park, Poncey-Highland, Morningside, Candler Park and Druid Hills. The creative loft office space is located on the eighth floor and includes an outdoor deck area.
The Avison Young Atlanta team is supported by a full-service office that includes sales, marketing, leasing, property management and research teams. The firm currently manages more than 20 million square feet of property across the Atlanta region.
About Avison YoungAvison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,600 real estate professionals in 84 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing