Atlanta’s 4th tallest tower is getting a glow-up — and maybe a new name

The 191 Peachtree Tower in downtown is undergoing a renovation campaign that includes offering prospective tenants naming and signage rights, according to a Monday news release. The 50-floor office tower, which features distinctive dual rooftop crowns, is owned and managed by Miami-based real estate investment firm Banyan Street Capital.

Credit: Banyan Street Capital

Credit: Banyan Street Capital

Zac Gruber, president of Banyan’s office division, said in a news release the tower is poised to benefit from increased workplace leasing demand after years of depressed activity following the COVID-19 pandemic.

“With our reinvestment in the building and its premier presence on the Atlanta skyline, we’re positioning 191 Peachtree to capitalize on this momentum,” he said in the release.

Banyan is kicking off a $4.5 million capital improvement campaign to refresh the tower’s seven-story atrium lobby and its dining spaces. The renovations will integrate the lobby with the Ritz Carlton Atlanta hotel and enhance the interiors of the Alma Cocina restaurant and Land of a Thousand Hills coffee shop.

Credit: Courtesy of Banyan Street Capital

Credit: Courtesy of Banyan Street Capital

Banyan will also build five new speculative suites on the 22nd floor, hoping to snag tenants looking for a quick move. In addition, Banyan said it will soon unveil a large block of available space near the top of the building’s double crown, which would offer the chance to erect building signage or rename the tower “for the first time in the building’s history,” the release said.

Completed in 1992, the tower rises 770 feet and is the city’s fourth tallest building. Its current tenants include The Woodruff Foundation, Grady Foundation, Metro Atlanta Chamber and dozens of law firms.

Atlanta’s office market has grappled with a record amount of available space since the 2020 pandemic lockdown. Downtown, which features the bulk of Atlanta’s oldest stock of office space, has especially struggled in comparison with the rest of the city to attract and retain tenants, but Gruber is confident 191 Peachtree has bright days ahead.

“While it’s no secret that downtown Atlanta has faced some recent challenges, we believe the pendulum is swinging back,” he said. “We want to ensure this incredible asset (191 Peachtree) remains the most accessible luxury office experience in Atlanta.”