A little more than a year after acquiring the Downtown complex, the owner of PPG Place is eyeing a property makeover that could drastically alter the food court and Wintergarden as well as the space fronting Market Square.
Highwoods Properties is seeking to upgrade PPG’s retail space and is considering the option of replacing the food court with a grocery, CEO and president Ed Fritsch said.
“We’re evaluating a number of options, and that certainly is one of them,” he said. “It is still early on. I think any Downtown worker or resident … would love to have that type of shopping amenity in Downtown.”
Highwoods paid $179.4 million in September 2011 to acquire the glass castle-like, six-building complex in the heart of Downtown and has boosted the office occupancy from 81.2 percent to more than 90 percent since then. It also is in the process of making $17.1 million in capital improvements, including new signs and directories and modernized air conditioning and heating systems and elevators.