Skanska seeking growth with Cobb office, Atlanta airport deals

Swedish construction giant Skanska has gotten the call to be the builder of a new office building near the new Atlanta Braves stadium in Cobb County.

The U.S. arm of Stockholm-based Skanska AB has been named as builder of 3400 Overton, a new speculative office tower near SunTrust Park. The Overton building in Skanska’s first office project in metro Atlanta since before the recession.

3400 Overton

3400 Overton is a new office project near SunTrust Park in Cobb County.

In an interview with The Atlanta Journal-Constitution last week, Skanska USA CEO Rich Cavallaro said his firm plans to step up work in the South.

The firm also is a lead partner in the domestic terminal modernization at Hartsfield-Jackson International Airport.

Rich Cavallaro

Rich Cavallaro, CEO Skanska

“We are set up to grow in Atlanta and if we get the right project mix we’d definitely chase it,” Cavallaro said. “We’re not hiding from projects.”

The company is also closely watching for more opportunities in aviation as Hartsfield-Jackson prepares for multiple expansion projects under a long-term master plan. The state is also set to ramp up construction on numerous transportation projects following the recent gas tax increase.

Skanska entered the Atlanta market in the 1990s with its acquisition of noted Atlanta-based commercial builder Beers Construction. Like many companies, Skanska saw business slow down considerably during the downturn.

Cavallaro said the construction pipeline nationwide continues to grow, led by aviation, sports, hospitals and infrastructure. Those sectors are also hot in metro Atlanta.

The Overton project, which is being developed by TPA Group and USAA Real Estate Co. and designed by Heery International, will have Synovus and its Bank of North Georgia affiliate as its anchor tenant. The project is among the first new speculative office buildings to start construction in the Cumberland sub-market in more than a decade, and one of the few underway  in the Atlanta area.

The seven-story office building at Akers Mill Road and Cumberland Boulevard is expected to open not long after the Braves start play next spring at SunTrust Park.

The AJC spoke to Cavallaro at the National Association of Real Estate Editors conference in New Orleans, and we’ll have more of that interview, including his views on U.S. infrastructure, in a future edition of the newspaper and at MyAJC.com.

Reader Comments 0

1 comments
BurroughstonBroch
BurroughstonBroch

This seems to be a resuscitation of Skanska in Atlanta. They bought longtime Atlanta builder Beers Construction Company in 1994 and ran it into the ground.