Morgan Stanley will nearly double its footprint in a premier office complex in Alpharetta after signing a lease extension that includes an additional 100,000 square feet.
The global investment bank and financial services leader will occupy a total of 216,000 square feet across the entirety of The Edison Alpharetta at 1 and 3 Edison Drive under a new long-term lease. The firm currently operates out of 116,000 square feet at the loft/office-style development owned by Invesco Real Estate, a global real estate investment manager. Additional terms of the lease were not disclosed.
Stream Realty Partners Managing Directors Bryan Heller and Peter McGuone represented the landlord in the transaction. JLL represented the tenant. Stream, a national commercial real estate firm offering an integrated platform of services, has a growing office in Atlanta entrusted with tens of millions of square feet of management, leasing, and development assignments in the market.
The Edison Alpharetta, totaling nearly 216,000 square feet of rentable space, includes two loft-style office buildings joined by a common courtyard. The campus offers a detached, centrally located clubhouse dedicated to a fitness center, healthy food options, and meeting space. First-floor suites have roll-up overhead doors providing easy access to a courtyard with plenty of shade and seating options.
The development in the North Fulton submarket provides tenants with easy access to a host of retail, dining, and recreational options at Avalon, Big Creek Greenway, and Windward Parkway.
“In a year marked by subleases, downsizing tenants, and sluggish commercial real estate activity, we are thrilled to announce this monumental lease transaction that is one of the largest in the Atlanta market thus far in 2023,” Heller said. “This is a major coup for Alpharetta, and this partnership demonstrates the resilience and desirability of The Edison product. It also highlights the confidence that major players have in the North Fulton area.”