Pre-sale prices of the units start at $235 per sf. Complete floors total 15,000 sf, making the estimated pre-sale price of a full floor $3.53 million. The 1.6-acre tract, purchased from CLC Enterprises in May, cost Griffin just under $3 million. The project is slated for completion in first quarter 2005.

Despite an office leasing softness with levels in some submarkets approaching 20%, Joel Griffin, chairman of the Griffin Co., says he expects "strong demand from professional firms that want to own their office space."

"With today's low interest rates, stock market volatility and the tax advantages that come with ownership, this is a great investment opportunity for companies that want to occupy and own prime office space and take advantage of all that Buckhead, Midtown, Downtown and other intown neighborhoods have to offer," he says.