Rayonier, a major timberland real estate investment trust, has signed a lease for its new corporate headquarters in the heart of Buckhead — the first physical step in anchoring a newly merged timber giant in Atlanta following the close of its all-stock “merger of equals” with Washington State PotlatchDeltic on Jan. 30, 2026.
The now-combined company owns 4.2 million acres of timberland across 11 states — 3.2 million of them in the U.S. South and roughly 931,000 in the Pacific Northwest, concentrated in Idaho, Washington and Oregon. It also operates six sawmills and an industrial-grade plywood mill, making it one of the largest publicly traded timber and wood-products companies in North America, with a pro forma equity market capitalization of about $7.1 billion and an enterprise value near $8.2 billion.
The relocation caps a sweeping financial deal. Announced in October 2025 and finalized after market close on Jan. 30, the merger combined Florida-based Rayonier with Washington-based PotlatchDeltic, with PotlatchDeltic shareholders receiving 1.7339 Rayonier shares for each share they held — an implied $44.11 per share. Executives are targeting roughly $40 million in annual run-rate cost synergies within two years.
“Our new headquarters establishes a strategic hub in the heart of the U.S. South, combining a thriving business ecosystem with proximity to a significant portion of our landholdings,” said Mark McHugh, president and CEO of Rayonier. “Locating our headquarters in Atlanta builds on the combined company’s deep roots in Georgia, where we are the state’s largest private landowner, with nearly 850,000 acres of timberland.”
The merger made Rayonier the largest private landowner in Georgia, centralizing management of those nearly 900,000 acres at a fraught moment for the state’s forestry sector. The industry sustains well over 180,000 jobs statewide and was recently rattled by International Paper’s closure of its Savannah-area operations; Rayonier itself reported fire damage across roughly 10,000 acres, primarily in Georgia, in early 2026. Beyond logging, the company operates as a sophisticated REIT, managing master-planned developments such as the 24,000-acre Wildlight project near Jacksonville and pursuing land-based opportunities that include some 80,000 acres under option for utility-scale solar.
The company signed for roughly 36,000 square feet of Class A office space — about one and a half floors — in Terminus 100, the 27-story, 590,000-square-foot mixed-use tower owned by Cousins Properties at 3280 Peachtree Road. Occupancy is targeted for the first quarter of 2027. The space sits within a seven-minute walk of the Buckhead MARTA station (Red Line), with quick access to Georgia 400 and the retail at Lenox Square and Phipps Plaza. Ryanne Pennington and Brennan Koslow of JLL represented Rayonier, while Jeff Dils and Cameron Bloodworth represented Cousins Properties; JLL is managing the interior build-out, with design by ASD|SKY and general contracting by rand* construction. The company has said it will keep significant offices in Wildlight, Florida, and Spokane, Washington.
“Rayonier’s growing footprint in Georgia is a testament to their longstanding commitment to our state,” said Georgia Gov. Brian P. Kemp. “Our strategic location and resilient timber industry, combined with our pro-jobs approach, give us unmatched advantages for companies like Rayonier to serve their customers and experience long-term success here.”
A marquee win for Buckhead
Rayonier’s arrival lands as a marquee win for a Buckhead office market still working to prove its resilience against hybrid-work headwinds. The deal arrived alongside other notable district activity, including a 44,000-square-foot lease by luxury fitness brand Equinox at Buckhead Village — its first Georgia location.
The recruitment of a $7.1 billion public company offers arrives just as Katharine Kelley succeeds longtime leader Jim Durrett atop the Coalition and the Buckhead Community Improvement District.
