CP Group Repositions CNN Center as Downtown Atlanta Hub

Event summary

  • CP Group is reopening the former CNN Center in Atlanta as ‘The CTR’ in May 2026, transforming it into a mixed-use destination.
  • The project includes a 24,000-square-foot ‘CTR Food Works’ dining destination featuring 12 restaurants and the city’s largest bar, led by Robert Montwaid.
  • Mastro’s Ocean Club, a high-end steak and seafood restaurant, is leasing 8,200 square feet on the ground floor.
  • CP Group has invested $50 million in exterior renovations and $15 million in atrium work, with an arts and culture platform, ‘CTR Culture,’ also expanding.
  • The CTR will serve as the official headquarters and volunteer hub for the Atlanta FIFA World Cup 2026.

The big picture

CP Group’s repositioning of the CNN Center represents a broader trend of repurposing large, single-tenant properties into mixed-use destinations to cater to evolving consumer preferences and revitalize downtown areas. This $65 million project, part of CP Group’s $8 billion+ portfolio, aims to create a ‘third place’ for Atlantans, a shift away from the building’s previous role as a corporate headquarters. The project’s success will be a bellwether for similar redevelopment efforts in other cities facing vacancies in landmark buildings.

What we're watching

Consumer Traffic
The success of The CTR hinges on attracting consistent foot traffic from locals, tourists, and event attendees, which will be critical for the viability of CTR Food Works and other retail tenants.
Leasing Velocity
The pace at which remaining spaces are leased will indicate the overall appeal of the repositioned asset and the effectiveness of Hines’ leasing strategy.
Event Dependency
The CTR’s reliance on events like the FIFA World Cup creates a risk; sustained performance post-event will require demonstrating broader appeal beyond temporary boosts.