A Nashville-based coworking company is opening its first Atlanta location in the bustling Cumberland/Galleria area.
E|Spaces leased a full floor, spanning 32,000 square feet, at 1600 Parkwood Circle, the Atlanta Business Chronicle reported.
The six-story office building is just off Interstate 75 and less than 2 miles from The Battery Atlanta, a mixed-use development near the Atlanta Braves’ Truist Park. Avison Young’s Chris Godfrey, Kirk Rich and Monica Speak represented the landlord of 1600 Parkwood Circle, who wasn’t identified. Patrick Braswell of Record Real Estate Partners represented E|Spaces.
The firm’s move into Atlanta’s Cumberland/Galleria area underscores the trend of coworking operators shifting focus away from downtowns and making offices more accessible to suburban workers. Atlanta-based coworking brand Switchyards, for example, is targeting the suburbs and recently opened a location in Avondale Estates.
E|Spaces’ expansion comes amid shifting dynamics in the coworking sector. Despite recent high-profile setbacks, such as WeWork’s bankruptcy, coworking spaces in the Atlanta area have continued to grow, reaching 4.5 million square feet in the third quarter, up from 4.36 million in from the previous quarter, according to Yardi Matrix. This growth reflects a trend toward flexibility for office tenants as companies reevaluate their post-pandemic real estate needs and hybrid work patterns.
“Many companies want to go back to work, but they also want to be smart about where they’re going,” the firm’s CEO, Jon Pirtle, told the Nashville Business Journal. “A lot of companies have learned they don’t need to spend significant cash flow on rent they don’t necessarily need.”
Besides Nashville, where it is reportedly the fastest-growing coworking provider, E|Spaces has established locations in Chattanooga and Knoxville, Tennessee, and Orlando, Florida. The company is open to expanding further in Atlanta if the right opportunities arise, a spokesperson told the outlet.
—Rachel Stone
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