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Private University Moves to Century-Old Atlanta Office Tower

| Commercial Real Estate News, Leasing| Views: 125


Herzing University, a private non-profit institute, will move its Atlanta, Ga., campus to the iconic Hurt Building, one of the nation’s earliest skyscrapers.

50 Hurt Plaza SE, Atlanta (Yardi Matrix)

Aided by JLL, the higher-education institution recently secured a 30,000-square-foot lease within the downtown Atlanta office tower. Pending final approval from its accreditor, Herzing University will occupy a full floor in the historic building. Following the university’s relocation from its current space in Buckhead, the high-rise will boast an 80% occupancy rate.

“Herzing University has proudly served adult learners in Atlanta for almost 40 years, and this move will help us support more students in the years to come. We are excited to start classes in the Hurt Building. It will be a convenient and attractive location for our students, who are aiming to start a new career or attain a higher position in their current line of work,” Renee Herzing, president of Herzing University, said in a statement.

Located at 50 Hurt Plaza SE, the Class A high-rise houses 68 companies active in a variety of fields, Yardi Matrix data reveals. The tenant roster includes a few high-profile names, such as Aflac, Back on My Feet, Enterprise Community Partners, and Allstate.

In October of last year, Gamma Real Estate, the property’s owner, began an extensive, $4 million capital improvement program, scheduled to be completed in May 2018. The revamping effort includes lobby upgrades, complete with the addition of shared conference facilities and an amenity floor featuring a fitness center and a game room. The renovated building will offer various floor plans, including loft spaces, office suites, and coworking microunits.

One of the first skyscrapers in the U.S., the 18-story high-rise was constructed between 1913 and 1926. At that time, it was also the 17th tallest building in the world. Over the years, the office tower has been completely renovated twice, in 1985 and in 2013. The Hurt Building encompasses a total of 436,340 square feet, with 20,468 square feet designated for retail use. A transit-oriented property, the tower provides easy access to two public transportation stations.

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