June 28, 2013
Buckhead Atlanta Alters Project Plan to Accomodate Spanx Headquarters Office Lease, Flagship Retail Store
Buckhead Atlanta developer OliverMcMillan today officially announced the agreement with Spanx to move its world headquarters in Buckhead and open a flagship retail store in the 8-acre, 1.5-square-foot mixed-use project on Peachtree Road and offering new graphics of the project. As BuckheadView reported on June 26, Spanx will lease 86,000 square feet initially with an option to expand to 112,000 square feet for its expanded headquarters with a rooftop garden terrace. The deal includes signage rights and Spanx is anticipated to move in November 2014. (To see June 26 story, click here.) In order to accommodate Spanx's need for growth, Buckhead Atlanta today said in its official release that it is adding a third level of office space that was not in the original development plan and also providing balconies for the Spanx headquarters offices. BuckheadView is awaiting confirmation from OliverMcMillan representatives on the actual location for both the Spanx headquarters offices and retail store within the Buckhead Atlanta project, but it believed it will be within Parcel A of the development, which is at the corner of Peachtree and Pharr roads. On May 29, BuckheadView quoted OliverMcMillan Director of Development Hunter Richardson as saying work on the project - especially Parcel A - would be increasing greatly in the weeks to come and passersby would begin to see structures emerging above the fencing on Peachtree Road. That has since come true and this week all four cranes have been active at Buckhead Atlanta and the work force reportedly has increased from about 30 to around 100. "We're so excited to create a beautiful space for this leading Atlanta-based company," said Morgan Dene Oliver, chief executive officer of San Diego-based developer OliverMcMillan, which develops urban and mixed-use retail, entertainment and residential projects. "Spanx's innovative spirit and sense of fashion fit perfectly with the fabric of Buckhead Atlanta." The move to the Buckhead Atlanta project not only addresses the anticipated growth of the billion-dollar manufacturer of shapewear garments, but also the innovation and style that Spanx is known for. "Like the Spanx brand, the Buckhead Atlanta space is innovative and unique," said Spanx Founder Sara Blakely. "It's a perfect fit - no pun intended! We're also thrilled to offer hometown fans a way to experience the magic of Spanx at our first flagshape store." By expanding its corporate headquarters and moving from 3344 Peachtree to Buckhead Atlanta, Spanx is showing its long-term commitment to the Atlanta and to Buckhead. "Spanx is one of Atlanta's wonderful success stories," said Atlanta Mayor Kasim Reed. "And in a true testament to its entrepreneurial spirit, Spanx will now be the anchor office tenant of the Buckhead Atlanta development, another transformational project." Brannan Moss and Josh Hirsh with Jones Lang LaSalle represented Spanx in the transaction. Amy Fingerhut of CBRE represented OliverMcMillan. "We wanted a unique and prestigious space where we could be creative, be ourselves and beconvenient for everyone to work and thrive - a place with room to grow where we can unpack our bags and stay awhile," said Spanx CEO Laurie Ann Goldman. "The opportunity to house a premier retail store alongside our dream headquarters made Buckhead Atlanta perfect." Buckhead Atlanta will be a village mix of urban residential, upscale retailers and restaurants all in one walkable destination located on 8 acres across six city blocks bordered by Peachtree, Pharr and East Paces Ferry roads and North Fulton Drive. Hermes, the French high-fashion design house, will be one of the first of many upscale retailers to open at Buckhead Atlanta. The completed project will have 300,000 square feet of upscale retail stores, restaurants and cafes, 125,000 square feet of custom office space and 370 luxury high-rise residences. The Story behind Spanx is as innovative as the company and its products. Founder Sara Blakely was getting ready for a party when she realized she didn't have the right undergarment to provide a blemish-free look under white pants. Armed with scissors and sheer genius, she cut the feet off her control top pantyhose and the Spanx revolution began! The Spanx brand now houses over 200 products ranging from slimming apparel and swimsuits, to bras, activewear and men's undershirts. To help women everywhere experience the power of shapewear, Sara launched ASSETS, a focused range of body-shapers and ASSETS Red Hot Label by SPANX, a luxe extension of ASSETS that offers a wider assortment of slimmers, bras and panties. In March of 2012, Founder Sara was named the world's youngest, self-made female billionaire by Forbes Magazine and one of TIME's 100 Most Influential People. Headquartered in Buckhead and opening retail shops across the United States, Spanx can now be found worldwide in more than 50 countries.