515 Congress

Stream Atlanta
Construction Management Landlord Representation Marketing
In April of 2013, 6th and Congress Properties, LLC hired Stream to Lease 515 Congress, a 258,000 SF, 87% occupied building with 35% of the building rolling in the next 12 months.
  • Situation

    • 515 Congress is an older building in a great location. The building’s marketing materials were dated and the building was not well-branded.
    • The building had an image that attracted very traditional tenants, which was different than the tenants looking for space.
    • 35% (90,000 SF) of the building was rolling within 12 months of hiring Stream, including Bank of America, the 50K SF anchor tenant.
    • Rental rates of the rolling tenants drastically needed to be reset.
    • The building’s previous owner notified the business community that there were plans to redevelop the entire block, including 515 Congress, giving prospective tenants uncertainty.
    • The parking ratio was 1:770 SF, which was below average for the CBD. Parking rates were also below market and needed to be increased.
  • Action

    • Updated the marketing collateral.
    • Built out spaces in the building as “creative space” (exposed ceilings, stained concrete floors, open concept).
    • Diligently worked to stay in front of tenants coming up for renewal to educate them on changes in the market.
    • Helped devise a plan for ownership to keep 515 Congress intact while redeveloping the adjacent building (501 Congress) into a 116,000 SF, Class A building.
    • Increased parking rates to market.


  • Provided insight to prospects of how creative space can be achieved in an older building. All spec creative space was leased.
  • Completed 111,000 SFof leases in the first 14 months (55,000 SF of renewals and 56,000 SF of new leases).
  • Raised the NOI of the parking garage by 35% while getting better control of the garage.
Next Project

Stonebridge Plaza I & II