CP Group Bets Big on Mixed-Use, Revamps Atlanta's Piedmont Center

Event summary

  • CP Group unveiled a master plan to redevelop Piedmont Center, a 2.2 million-square-foot, 14-building property in Atlanta’s Buckhead district.
  • The redevelopment will transform the property into a mixed-use destination with a focus on retail and dining, including a street-level retail corridor with at least six restaurants.
  • CP Group has completed 83,000 square feet of recent leasing activity, including expansions by Buckhead Investment Partners and renewals by ScottMadden, Inc.
  • The firm plans to deliver approximately 42,000 square feet of move-in-ready spec suites to address tenant demand.
  • CP Group acquired the property in June 2025 and has already implemented early improvements like LiveWire Coffee and food truck programming.

The big picture

CP Group's strategy reflects a broader trend among office landlords to diversify offerings and create destination-like environments to combat declining occupancy rates and tenant preferences for flexible, amenity-rich spaces. With an $8 billion portfolio, CP Group’s Piedmont Center redevelopment represents a significant bet on the viability of this mixed-use model in a key Sunbelt market. The firm's track record of repositioning assets like the CNN Center suggests a degree of expertise, but the scale of this project introduces new challenges.

What we're watching

Tenant Demand
The success of the mixed-use strategy hinges on attracting and retaining tenants willing to pay a premium for the enhanced amenities and retail offerings, especially given broader office market headwinds.
Execution Risk
The ambitious redevelopment plan carries execution risk, particularly concerning construction timelines, cost overruns, and the ability to deliver the promised retail and amenity experience.
Market Dynamics
How the broader Buckhead office market responds to the repositioning will be critical; a slowdown in demand could impact CP Group’s ability to lease the space at desired rates.

Related topics

Commercial Real Estate