ATLANTA--(BUSINESS WIRE)--CP Group, the second-largest office landlord in Georgia and a prominent owner-operator nationally, today announced that the regional division of Enterprise Holdings in Atlanta - which supports the Enterprise Rent-A-Car, National Car Rental, and Alamo Rent A Car brands in the Atlanta area - has signed a lease agreement for approximately 31,000 square feet of office space at Ashford Perimeter in the heart of Atlanta’s Central Perimeter submarket. The agreement will create new administrative offices for Enterprise that will support 100-plus car rental locations, as well as its fleet management, car sales, and truck rental business in Atlanta and the surrounding region.
The lease comes shortly after CP Group completed a comprehensive, $4 million capital improvement program to transform the six-story office building over the last two years after the previous anchor tenant, State Farm, vacated in 2020. These renovations include a reimagined exterior appearance with new landscaping and hardscaping, an expansive, newly designed six-story atrium with huddle space, modernized elevator lobbies and common area corridors, new HVAC systems, and restrooms. Enterprise will be relocating from their nearby offices in Palisades Office Park.
Kevin Driver and Billy Graddy from Stream Realty represented CP Group in lease negotiations, while John Flack of Savills and Bubba Chrismer of Cresa represented Enterprise.
“We are thrilled that Enterprise decided to move their Atlanta office to the newly renovated Ashford Perimeter,” said Scott Barr, Senior Vice President at CP Group. “For this renovation project, we focused on incorporating features that top-tier organizations like Enterprise require in their work environment.”
Initially acquired by CP Group in 2013, Ashford Perimeter totals 300,000 square feet and offers companies incredible access at the intersection of Ashford Dunwoody Road and I-285. It features a six-story grand atrium with a massive, custom-built 266-inch TV wall, an abundance of collaboration spaces for breakout meetings, a modern café, fitness center, and conference facility.
The property benefits from its ideal location, offering immediate access to major transportation arteries via direct access onto Interstate 285 in both directions and public transit options at the Dunwoody and Medical Center MARTA stations. Ashford Perimeter is also within a short drive of the Perimeter Mall and Park Place, with access to numerous dining and retail options.
CP Group Remains Active in Atlanta
CP Group anticipates that they will continue to see a spike in leasing activity in both Ashford Perimeter and their broader portfolio in Atlanta, which has significantly increased over the past year. CP Group’s acquisitions in the market include the iconic CNN Center in Downtown Atlanta in July 2021 and the Bank of America Plaza - the city’s tallest skyscraper - in March 2022. With the significant growth in the region, CP Group also expanded its regional construction team by hiring Ryan Howard, the former Senior Director of Real Estate and Facilities at HD Supply, as Regional Director of Construction to execute more than $300 million in planned renovations and other upgrades in their Atlanta properties.
About CP Group
Active in the commercial real estate business for over 35 years, CP Group has established a reputation as a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States. Headquartered in Boca Raton, Florida, the firm has a corporate office in Atlanta and regional offices in Denver, Miami, Jacksonville, Dallas, and Washington DC. Since 1986, CP Group has acquired and managed over 165 properties, totaling over 56 million square feet, valued at nearly $8 billion. It is currently Florida’s largest and Atlanta’s second-largest office landlord and ranks 25th largest in the United States. To learn more about the company, visit CPGcre.com.
About Enterprise Holdings
Enterprise Holdings, Inc. is a leading provider of mobility solutions, owning and operating the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands through its integrated global network of independent regional subsidiaries. Enterprise Holdings and its affiliates offer extensive car rental, carsharing, truck rental, fleet management, retail car sales, as well as travel management and other transportation services, to make travel easier and more convenient for customers. Privately held by the Taylor family of St. Louis, Mo., Enterprise Holdings manages a diverse fleet of more than 1.85 million vehicles through a network of nearly 10,000 fully staffed neighborhood and airport rental locations in more than 90 countries and territories.
