DevelopmentTuesday, November 3
Medley opens in Johns Creek with its office space 100% leased, and Avalon's playbook is the model
The Daily Alpharetta team
If you love Avalon, meet its Johns Creek cousin. Medley opened its first phase with a ribbon cutting Oct. 29, and Toro Development Company says its speculative office space, built without tenants signed first, is 100% leased. That's the first spec office project in metro Atlanta to open fully leased in more than a decade. The last building to do it was 8000 Avalon Blvd. at Alpharetta's Avalon.
Avalon's 582,000 square feet of office space is still 98% occupied, with rents more than 80% above market. At Medley, Boehringer Ingelheim moved 500 employees into its 73,000 square feet in August. There's also the Georgia debut of Chattanooga's Stir and a Trader Joe's that opened in June.
Boehringer Ingelheim took most of Medley's named office leases
Source: Metro Atlanta CEO
View as table
| Value | |
|---|---|
| Boehringer Ingelheim | 73,000 sq ft |
| Brightree | 17,751 sq ft |
| First American Bank & Trust | 3,290 sq ft |
- Site: 43-acre former State Farm campus, a $560 million project
- Phase one: 145,000 square feet of retail and restaurants
- Housing: 340 rentals and 133 for-purchase townhomes
“We're going to make this the third place that Johns Creek has been lacking.”
Medley's first phase is open, with more to come through 2028
- AprilEncore, Medley's second phase, broke ground.
- JuneA Trader Joe's opened at Medley.
- Oct. 29Medley opened its first phase with a ribbon cutting.
- 2027Encore is slated to be completed, adding 408 luxury multifamily homes.
- 2028A Mainsail Lodging & Development hotel is expected to open.
Sources: ajc, Appen Media
Class A office vacancy in North Fulton is about 31%, with Johns Creek at 18%, according to Stream Realty Partners, which led the leasing.
Sources: Metro Atlanta CEO, ajc, Appen Media