When Chris Ahrenkiel left Selig Enterprises for Cushman & Wakefield last year, the family-run real estate firm had a hole in its office leasing team and a choice about how to fill it. It could keep the work in-house, or it could hire a third-party brokerage and treat this as the moment to start chasing tenants for new development. Selig chose the second option.
The firm hired Partners Real Estate, an upstart brokerage led by John O'Neill, to represent its Midtown land holdings and to serve as exclusive leasing agent at 1105 West Peachtree, the trophy tower anchored by Google. The deal was finalized last month, with brokers John Zintak, Will Porter and Gracie Swan on the assignment. Selig keeps retail leasing at 1105 West Peachtree, and CBRE remains property manager.
The timing is the story. Office construction activity in Atlanta has essentially stopped, and Selig has spent decades assembling one of the largest portfolios in the Southeast, including several Midtown sites ready to go as soon as the right deal appears. \"We just felt like chasing these deals together gave us better exposure and better opportunity to get something off the ground,\" said Steve Baile, chief development officer at Selig Development Co.
The existing tower gives them a credential to sell. 1105 West Peachtree is about 96% leased, with Google in roughly 500,000 square feet and law firm Smith, Gambrell & Russell in nearly 121,000. The building drew $245 million in refinancing from Bank of America late last year. About 28,000 square feet remains available on the fifth and sixth floors, with private elevator access from 12th Street, tall ceilings, and access to the amenities spread through the mixed-use district along West Peachtree between 12th and 13th streets.
Selig and Partners are still working out how large an anchor lease has to be to justify breaking ground. One thing working in their favor is basis: Selig bought most of the parcels more than a decade ago, which makes the math on a new project easier than it would be for a buyer starting today. Baile described modern offices as converging with high-end hospitality — buildings that have to engage the neighborhood and carry the amenities younger workers expect.
Baile conceded the market may not be ready for a large new tower, and argued that is exactly why the groundwork matters now. Towers take years to build, and tenants are increasingly evaluating options well ahead of lease expirations. \"We have some significant holdings in Midtown, and they needed proper representation,\" he said.
Original reporting: Atlanta Business Chronicle (2026-08-26)