Regions Bank has signed a 14-year lease agreement to remain in its namesake, Class AA tower in Atlanta’s booming Midtown area.
The bank will occupy 100,919 square feet at Regions Plaza at 1180 W. Peachtree St. The building is owned by PGIM Real Estate, the real estate business of PGIM, a global investment management company, and leased by Stream Realty Partners. It offers a full-service Regions Bank location with an ATM as well as state-of-the-art amenities including a fitness center, secure elevator lobby, Rising Roll Gourmet Cafe, several conference options, and ample parking. Regions Plaza is a half block from Google’s new tower and within easy walking distance of popular Midtown shops and restaurants.
“Regions Bank’s long-term pledge to remain at Regions Plaza reflects our commitment to building on our investments across Atlanta,” said Bill Linginfelter, Atlanta Market Executive and Commercial Banking Leader for Regions Bank. “We are proud to occupy this prominent space along the Atlanta skyline and appreciate the opportunity to be a catalyst in advancing the city’s business and community growth.”
Kent Tarrach, Executive Director of Asset Management at PGIM Real Estate, said his firm is “thrilled with Regions’ commitment to our property and look forward to continuing to work closely with Stream and Regions Bank for years to come. We appreciate Regions Bank’s input and participation in our ongoing efforts to ensure a best-in-class experience for all the building’s occupants.”
The robust submarket has added 5,000 residential units over the last year and 57 new buildings over the past 12 years, according to Atlanta Business Chronicle. Midtown has most recently attracted tech, law, and finance companies, which are flocking to the area because of its diverse talent pool and affordability as compared to other regional cities.
Stream Atlanta Vice Presidents Kevin Driver and Steve DeVinney represented PGIM Real Estate in the transaction. Jimmy Sanders, Mitch Kahlert, and Harry DeAntonio of ICON Commercial Interests represented Regions Bank.
“We are grateful for the opportunity to represent PGIM Real Estate in this extremely collaborative transaction with Regions Bank and the ICON team,” Driver said. “The future of Regions Plaza shines even brighter as a result of the collective creativity and focus demonstrated by all the players.”
Stream Senior Property Manager Amy Brey and Building Operations Manager Ryan Moore offer property management and engineering services at Regions Plaza.