Trizec didn't disclose the estimated aggregate value of its deals or the occupancy levels at its properties. However, area brokers familiar with the properties tell GlobeSt.com the value number is about $4 million, based on an average gross rent of $18 per sf.
The largest transaction was at Lakeside Center where AMEC Inc. leased 68,995 sf for 12 years. The international engineering services company was represented by Mitch Kahlert and Jimmy Sanders of ICON Commercial Interests. Leasing agent Leslie Claxton negotiated for Trizec.
"This volume of leasing activity is a great sign of the increasing momentum in the Atlanta market," says David Canaday, regional vice president in charge of Trizec's Atlanta portfolio. Trizec's properties are the Midtown, Buckhead and Perimenter submarkets.
At the Colony Square complex in Midtown, Infinity Broadcasting, renewed and expanded to a total 24,477 sf for 10 years and three months. CB Richard Ellis Inc. brokers Kerry Davidsen and Wendy McArthur negotiated for Infinity. Trizec leasing vice president Peter Kasian represented his firm.
Bovis Lend Lease renewed its 24,350-sf leased for 5.5 years at Palisades Business Park. Monty Harris of Newmark Southern Region LLC represented Bovis. Leasing agent Sam Zelony negotiated for Trizec.
Collegiate Licensing Co. renewed for nine years and expanded for 10 years and one month to a total 24,104 sf at Interstate North Office Park. Kasian represented Trizec.
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