Invest Atlanta’s lease purchase bonds facilitating renovation of Georgia Pacific HQ building
Thursday, April 21, 2016
The Invest Atlanta Board of Directors authorized a $150 million lease purchase inducement resolution to finance a major renovation of the Georgia-Pacific headquarters building. The privately-placed bond transaction, which carries no liability for the City of Atlanta or Invest Atlanta, will enable Georgia-Pacific to reconfigure 23 floors of its 34-year-old building in downtown Atlanta.
By modernizing its headquarters offices with this funding, Georgia-Pacific will maintain its 2,600 headquarters employees at the downtown site and be in position to relocate up to 600 additional Georgia-Pacific employees to that site. The project also makes it possible to lease office space to other businesses within the building, which could bring up to 700 more workers onto the premises.
The project includes technological upgrades to make the company more attractive to younger, tech-savvy workers, and energy efficiency improvements that will reduce costs for lighting, heating and air conditioning, and water consumption.Tweet