Major Atlanta Law Firm Relocates Headquarters After Nearly 40 Years
One of Atlanta's largest law firms, Morris, Manning & Martin, is relocating its headquarters for the first time in almost four decades. The firm has secured a 100,000-square-foot lease at Two Alliance Center, a 30-story tower at 3560 Lenox Road Northeast in Buckhead. This relocation marks the sixth significant office lease in Atlanta this year.
New Headquarters at Two Alliance Center
Morris, Manning & Martin will move into a smaller space than the 130,000 square feet it currently occupies at the Atlanta Financial Center on Roswell Road, where it has been since 1987. Despite the reduced space, the firm, which employs approximately 280 attorneys and staff, will efficiently utilize the new office's modern design, which allows for the same number of employees in less square footage. The new office will span four floors of Two Alliance Center, with the firm also holding expansion rights. Additionally, the firm's name will be prominently displayed on the building, known for its distinctive vertical crescent design.
Trend Towards Modern, Efficient Workspaces
The move aligns with the growing "flight-to-quality" trend, where companies are leaving outdated office spaces in favor of more modern, amenity-rich environments. Managing Partner Simon Malko emphasized the importance of creating a collaborative and exciting workspace that encourages employees to come to the office. Two Alliance Center, built in 2008, offers proximity to upscale shopping malls like Phipps Plaza and Lenox Square, as well as convenient access to a MARTA station.
Challenges and Opportunities in Atlanta's Office Market
The relocation comes at a time when Atlanta's office vacancy rate hovers near 30 percent, a challenge exacerbated by remote work trends, high interest rates, and tight lending conditions. However, the office leasing market in Atlanta has shown resilience, with five leases of at least 100,000 square feet signed in the first half of the year. This marks the most activity since before the pandemic, with the largest being Piedmont Healthcare's 164,000-square-foot headquarters relocation to 271 17th Street in the Atlantic Station neighborhood.
Atlanta Financial Center's Uncertain Future
The Atlanta Financial Center, the building Morris, Manning & Martin is vacating, has faced its challenges. Sumitomo Corporation attempted to sell the 1 million-square-foot property, and a deal was in place with New York-based Nightingale Properties for $182 million. However, the deal fell through due to a failed $53.6 million crowdfunding effort, with investors ultimately requesting their money back.
