CP Group Plans 2.2M SF Renovation at Atlanta’s Piedmont Center

Atlanta’s office market demonstrated resilience in the first quarter of 2026, with average listing rates climbing 9.8 percent year-over-year to $36.64. Despite an 18.4 percent vacancy rate—which sits above the national average of 17.8 percent—the metro outperformed national benchmarks in rent growth and experienced a 13.9 percent increase in office visits. Investment activity totaled $210 million for the quarter, including the $45.4 million acquisition of the 317,826-square-foot Sugarloaf Portfolio in Duluth by ESJ Capital Partners.

Development activity remains measured, with a pipeline of 406,000 square feet representing 0.2 percent of the total inventory. Among notable projects, CP Group is set to begin a revitalization of the 46-acre, 2.2 million-square-foot Piedmont Center in Buckhead, transforming the campus into a mixed-use destination with new retail and 85,000 square feet of medical office space. Meanwhile, the sector continues to evolve through adaptive reuse initiatives, including the city's ongoing efforts to implement ATL Zoning 2.0 to facilitate building repurposing in the urban core.