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Portman's Tower Flip Reports Leasing Success on Peachtree

Earlier this year, Portman Holdings announced they were buying and renovating a 27-story downtown office building, and leases haven't been hard to come by since. The company has signed renewals and new leases for the 230 Peachtree Street tower — an "adaptive reuse project," which John Portman developed a half-century ago — totaling more than 35,000 square feet in a few months, officials said Friday. Portman Holdings plans to add a 200-key Hotel Indigo and more office space by late 2015. The 414,000-square-foot building was only 40 percent occupied when Portman bought it back in the spring. The leasing news joins a handful of other announcements that suggest downtown is gaining appeal as a jobs magnet, most notably Coke's decision to shift 2,000 workers from Cobb County to the former SunTrust Banks headquarters.

Once complete, the 230 Peachtree Street building will house the only hotel in downtown Atlanta directly above a MARTA station. Portman officials have said the tower's proximity to the Atlanta Streetcar line played a part in their decision to buy. "Tenants will benefit from this transit-oriented development and its proximity to some of the city's best attractions, convention locations, business districts and more," the company said in a release.

Lease renewals at 230 Peachtree Street include: Hendrick Phillips Salzman & Flatt; Action Capital Corporation; Atlanta Transportation Systems, Inc.; and Fitts & Thomas. New tenants include The Law Office of Tiffany Carter Sellers, LLC; Kip Jones, PC; and UniverSoul Circus, a company that bills itself as "the most interactive circus in the world!"

· 230 Peachtree Street project [Portman Holdings]
· Jarel Portman: Building on his father's legacy [AJC]