KDC, one of America’s leading commercial real estate and investment firms, has demolished the Hammond Exchange building to pave the way for construction on the second phase of Park Center.
A portion of the 10-story Hammond Exchange building was occupied by State Farm until the opening of the first office tower at Park Center in October 2016.
“We are excited to be moving forward with the second phase of Park Center and are proud about the positive impact it will have on the Central Perimeter market,” said Alex Chambers, KDC regional vice president.
The second phase of Park Center includes two office towers, totaling 1.2 million square feet. A 22-story tower will be developed first and is slated for completion by the end of 2019, followed by a 19-story tower with expected completion in 2020. State Farm will lease space in both towers in phase two, along with the already leased tower in the first phase, bringing the company’s total leased space to approximately 1.6 million square feet at Park Center.
The second phase of Park Center is designed with the theme of connectivity. A pedestrian bridge will be constructed over Perimeter Center Parkway that will connect the phase two towers to the phase one tower and the Dunwoody MARTA station. In addition to the bridge, Park Center will link to a multi-use trail, a new pedestrian plaza, a road connecting Perimeter Center Parkway to Peachtree-Dunwoody Road and street-level retail.
In May 2014, KDC broke ground on Park Center, a 17-acre master-planned, transit-oriented development in the Perimeter Center of Dunwoody, Georgia. The first office tower, considered the first phase, is a 13-story building situated on a seven-level parking structure with ground floor retail. The Class A building is located on four acres at Hammond Drive and Perimeter Center Parkway, adjacent to the Dunwoody MARTA station. State Farm employees began moving into the new building in the fourth quarter of 2016.
Other amenities included in the first phase of development are a direct connection from the building lobby to the MARTA station, two pocket parks, public art, and an underground vehicular and pedestrian tunnel.
At full build-out, Park Center is planned to include up to 2.2 million square feet of office space and 100,000 square feet of retail, restaurants and entertainment.
Cooper Carry & Associates is the shell building and interiors architect. Holder Construction is the general contractor. KDC is targeting LEED Gold certification for Park Center.
KDC is a leading corporate build-to-suit development and investment firm for companies across the country. Within the last 27 years, KDC has produced approximately 30 million square feet valued at over $5 billion. KDC addresses the future of Corporate America by developing walkable, mixed-use urban environments anchored by notable clients, and specializes in datacenter and broadcast studio build-to-suits. KDC's portfolio includes developments for Toyota North America, Liberty Mutual, State Farm (Dallas and Atlanta offices), FedEx, Raytheon, and J.P Morgan Chase. KDC is headquartered in Dallas and is supported by a national team. For more information, please visit kdc.com.
About State Farm®
State Farm and its affiliates are the largest provider of car insurance in the U.S. and is a leading insurer in Canada. In addition to providing auto insurance quotes, their 17,800 agents and more than 65,000 employees serve 81 million policies and accounts – more than 79 million auto, home, life and health policies in the United States and Canada, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 44 on the Fortune 500 list of largest companies. For more information, please visithttp://www.statefarm.com.