However, in the 511,589-sf Airport/South submarket, where Hartsfield Centre is located, the occupancy level is 90.95%. Bowers attributes the success of the building to growing office demand by companies working on the $5-billion airport expansion and the Delta Air Lines' headquarters' needs.

"This market has performed very well for several reasons," says Bowers executive vice president Mike Shelly. "Contractors, subcontractors and consultants working on Hartsfield-Jackson's new runway need space. The FAA is increasing its capacity and need for space. And we are also seeing an increase in activity in the commercial shipping and air cargo industries."

Another factor aiding the building's success is that it is "one of a very few buildings in this submarket entirely comprised of class A office space," Shelly says. Rental rates also account for the high occupancy in the Airport/South submarket. "At $21 per sf, the building is priced $1.78 per sf less than the ($22.78 per-sf) average for the Atlanta regional market as a whole."

But Shelly acknowledges the leasing health of Hartsfield Centre and the submarket generally could be affected by the future plans of Delta Air Lines. "A massive consolidation at the top of the airline industry could have a strong negative effect on the properties in the Airport/South area," he says. "But we still have every reason to believe this will continue to be a strong market in metro Atlanta."

In 2003, Richard Bowers & Co. completed 366 sales and leasing transactions totaling 3.5 million sf with an aggregate value of $186 million.