Construction is under way on Northmeadow Service Center II, aspec single-story office building in the 208-acre, 1.8 million-sfNorthmeadow mixed-use park along the GA 400 corridor. The building,being developed at an estimated hard construction cost of $11million, is scheduled for completion by early summer 2001. Averagearea rents are $18.50 per sf to $22 per sf.

Duke-Weeks owns most of the buildings in Northmeadow. The parkincludes single-story office, office/showroom and distributionfacilities. With the completion of Service Center II, 15 acresremain for development. The continued strength of the market, whichcurrently has a vacancy rate of 7.7%, prompted the company to startthe new project.

Duke-Weeks also has under construction in the area, BrooksideTwo, a 133,000-sf spec office building in the Alpharetta/NorthFulton submarket. Begun this past June, the building will becompleted in March 2001. Rental rates are listed at $21 per sf. Thefirm began Brookside Two after its Brookside One project leased upquickly. The five-story, 133,000-sf office building is currently90% leased. Both are located in the 198-acre Brookside officepark.