The 700-student school is leasing 60,000 sf in the 260,000-sf office component of the 17-acre property for 10 years at an estimated aggregate rent of $6.5 million, industrial brokers familiar with the west side submarket of Downtown tell GlobeSt.com. Bauder became a four-year college in December 2003.
After 25 years, the school is relocating from the basement premises of the old Lord & Taylor store in Phipps Plaza. The retailer closed and sold its building. Area brokers tell GlobeSt.com Bauder's presence at Northyards Business Park is expected to generate new retail tenant activity at the park to accommodate anticipated services demands of the growing student body.
The commercial space portion of Northyards was developed fully in 2002 by David and Rhodes Perdue, principals in Seed Partners LLC, and Scott Hawkins, CEO of the Hawkins Cos. The property has won numerous national awards for its preservation, rehabilitation and architecture efforts.
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