Now that CNN has moved out of its longtime home in Downtown Atlanta, the owners of CNN Center are looking for replacement tenants rather than pushing forward on a redevelopment.
One CNN Center, the longtime home of WarnerMedia’s CNN.
CP Group and Rialto Capital Management, which bought the massive commercial complex in 2021, have enlisted a team of CBRE brokers led by Executive Vice President Jeff Keppen to market nearly 500K SF of office space to new tenants, according to an online marketing brochure.
CP Group and Rialto paid WarnerMedia $144.8M in July 2021 for the 1.1M SF complex, according to property records. The media giant, which owns CNN, leased back the complex from the landlords as it prepared to move out of the space and consolidate in its Techwood campus in Midtown.
CP Group is planning on rebranding the property, according to a CBRE spokesperson, but the landlord and the brokerage declined to comment further until an official announcement is made.
The listing for the 49-year-old 1 CNN Center Plaza indicates the space could be available starting in July. No asking rent is listed for the Class-B space, where tenants can lease a single 38K SF floor or the entire 12-story building.
This month, WarnerMedia removed the iconic 5,000-pound CNN sign, which was erected in 1998 and served as a popular photo opportunity for tourists, from in front of the building. The sign was moved to the Midtown campus where the media company owns a number of buildings for its TNT and Cartoon Network divisions. It marked the final stage of CNN’s exit from its headquarters of more than 35 years.
When WarnerMedia…
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