July 1, 2013
New Buckhead Atlanta Renders Reflect Spanx-y Presence
by Josh Green From the mayor's office to the deal's broker, people are rejoicing at news of Atlanta's billion-dollar underwear empire, Spanx, relocating its headquarters next year from a 50-story office tower near Lenox Square mall to the trendier Buckhead Atlanta project. New renderings reflect how obvious Spanx's presence at the retail mecca will be � and for good reason. The Atlanta Business Chronicle reports Spanx will open its flagship store at the eight-acre development and consume nearly all of Buckhead Atlanta's office space � 86,000 square feet initially, with an option to expand to 112,000 square feet. The three-story HQ digs will occupy loft-style offices with a large rooftop garden. Signage will be blatant, with "eye-catching signs (and) a multi-story silhouette of a shapely blonde woman," the newspaper reports. Could Buckhead Atlanta finally be on a roll? Spanx � which Mayor Kasim Reed called "one of Atlanta's wonderful success stories" in a statement Friday � is planning to move its roughly 200 local employees to Buckhead Atlanta in Novemer 2014. The newspaper reported Monday the project also landed a significant cash boost in the form of a $167 million construction loan, led by PNC Capital Markets. The loan will cover the rest of construction and should allow developer OliverMcMillan to ramp up the pace of building the project, which is slated to offer 300,000 square feet of upscale retail stores, restaurants and cafes.