Move Over, Midtown: Buckhead Is Becoming a Tech Mecca

Millennials are flocking to Midtown, and major tech companies like Worldpay and NCR are following suit. But Buckhead – thanks in large part to increasing walkability and the Atlanta Tech Village – is giving Midtown a run for its money as a technology haven. Start-ups may start in Midtown but end up in Buckhead as they grow.

The Walkability Lure

Buckhead was once an enclave of bankers, lawyers, and financiers. But its increasing walkability and more urban environment have lured a younger demographic to the area, and with them more start-ups. The opening of the pedestrian bridge over GA 400 last year, along with Buckhead’s access to mass transit – the area boasts three MARTA stations, for example – has made the submarket much more pedestrian-friendly. Access to multiple restaurants, hotels, and two shopping malls go further to lend Buckhead the live-work-play vibe that Millennials crave.

The Appeal of the ATV

The Atlanta Tech Village, too, has played no small role in transforming Buckhead into a hot spot for young entrepreneurs. As chronicled in this blog last year, David Cummings’ 103,000-square-foot development in the old Ivy Place building at the intersection of Lenox and Piedmont Roads became an instant draw for tech start-ups seeking small, innovative spaces and flexible, often short-term leases. The Village offers a variety of turnkey, wired spaces for everything from two-person start-ups to companies of 30-40 people. Large spaces can be leased for three years, while a desk or a cube can be rented for just a few months.

As companies grow out of their space at the Atlanta Tech Village, they often move to nearby office in Buckhead. This trend, along with the arrival of large tech firms like Sony Erricson and Wipro Ltd., has made the one-mile stretch of Piedmont Road between Peachtree and Roswell Roads known as the Buckhead Tech Corridor.

Additional Advantages

Young innovators enjoy working in close proximity to one other so they can share ideas and solutions as they plant and grow their start-up ventures. Buckhead offers this opportunity and more. As noted in a blog for Buckhead CID by Jeff Hillmire, CEO and co-founder of Dragon Army, Buckhead counts among its many advantages:

1. The availability of meeting spots, including some of Atlanta’s best restaurants and conference spaces.
2. The presence of angel investors, like Atlanta Tech Angels.
3. Access to top attorneys with expertise in technology companies.
4. Proximity to Downtown, Midtown and Perimeter. “I can zip to Downtown or Perimeter in under 15 minutes,” Hillmire relates.

Also notable is Buckhead’s ready access to major roadways, which helps companies to recruit suburban residents.

Look Out, Midtown

Midtown remains the best-known Mecca for start-ups. But if Millennials move from Midtown to the suburbs when they start their families, a Buckhead office location will look pretty appealing. And as those Midtown start-ups gain traction and begin looking for bigger space, Buckhead may well be their best choice for growth. So move over, Midtown, and make way for the new player in town.

Blog contributed by Brooks Morris, Vice President, Cresa Atlanta. Brooks specializes in representing office tenants in the Buckhead and Midtown Atlanta submarkets.  For more information, please contact Brooks at 404.446.1564 or bmorris@cresa.com.