MOCK, the agency, bought two buildings on 14th Street, in Atlanta’s Westside district. The first building will become the advertising, graphic and digital design company's new office, and the other is available for lease.
The agency paid $563,000 for the two buildings and expects to spend approximately $100,000 per building on renovations
The decision by Mock's two principals to purchase the buildings was two-fold: They aim to create a unique environment to build their company culture and also believe the real estate play will have financial rewards.
“We wanted to find a permanent home and build our home,” said principal Donald Mock. “We also believe we’ll be able to reduce the money we are spending on office space, if we get the right tenant.”
The two buildings, at 247 14th Street and 253 14th Street, are both 2,500 square feet. MOCK has worked with architect Jordan Williams of Plexus R+D. Both buildings are currently under renovation. Expect contemporary, open, creative space.
“Architecture and graphic design go well together,” said Mock. “We are tearing apart something, and re-creating it from scratch. It mirrors what we do for our clients and has been a really invigorating, creative process.”
Principal Rob Broadfoot encourages other business owners to consider owning, rather than leasing. “Instead of paying rent to someone else, we are building equity,” he said.
The two principals said other advantages that supported their decision to buy include: Properties in good locations will appreciate over time; costs are predictable, particularly with a long-term, fixed-rate mortgage; companies can take depreciation on the improvement portions of their property; companies can usually deduct interest payments on their tax filings; owners can rent out extra office space as an added source of income; businesses are free to make the spaces their own.
Dan Granot of Joel & Granot represented MOCK in the purchase of the buildings. Dave Smith, also of Joel & Granot, is representing MOCK in leasing.