(Atlanta, Ga.) - May 3, 2010
Eola Capital, an Orlando-based real estate investment company, recently secured a 106,000-square-foot, 10-year lease with Atlanta-based GE Energy in its Parkwood Point office building. The 9-story suburban office building will serve as GE Digital Energy's headquarters and will be located close to GE Energy's main headquarters in Marietta, Ga.
"We're extremely pleased to partner with GE Energy," stated Bob Stoner, regional vice president of Eola Capital. "Their decision to expand within the Atlanta area is a great indicator of the city's economic growth and we look forward building a strong relationship with such an influential and innovative corporation."
The new GE Digital Energy division will bring more than 400 jobs to the metro Atlanta area within the next three years and plans to build a new $15 million Smart Grid Technology Center of Excellence (COE). The new COE will be responsible for developing smart grid technology to markets around the world and managing the research and development of new technology that can help improve the efficiency, reliability and environmental impact of energy transmission, distribution and consumption.
The Parkwood Point building is a class A office building located at 2018 Powers Ferry Road in Atlanta, Ga. With the new contract, the building will be 89 percent occupied. John Shlesinger and Brent Woodruff of CB Richard Ellis Inc. represented the tenant in the transaction and Bob Stoner of Eola Capital represented the ownership. GE will move into the new headquarters in July, and the customer showcase is scheduled to open in September.