NewSouth Energy, a new division of San Jose, CA-based Calpine Corp., and the Paradigm Group LLC of Washington, DC have leased a total 9,839 sf for an aggregate rent of nearly $1 million at the 15-year-old building.

NewSouth Energy is taking 6,040 sf on the 38th floor for 3 ¼ years at an estimated total rent of $471,120. The Paradigm Group is relocating from the nearby SunTrust Tower and leasing 3,799 sf, also on the 38th floor, for five years at a total estimated rent of $455,880. The average asking rent at 191 Peachtree is $24 to $25 per sf, full service.

"With a nearly fully leased building at present state, there wasn't a lot of near-term occupancy space available," says Bill Hollett, managing director of leasing for Equity. "But the vacant space that is available is compelling space because of the inherent high-quality atmosphere and efficient design in the existing office layouts."

Hollett adds, "Those amenities represent a unique value for both smaller and larger companies looking to upgrade to a new location with minimal construction requirements."

Hollett represented Equity Office in both leasing transactions. John O'Neill and Addison Meriwether of Cushman & Wakefield of Georgia Inc. negotiated for NewSouth Energy. Frank Darby of the Frank M. Darby Co. represented the Paradigm Group.

AJ Robinson, president of Central Atlanta Progress, a Downtown business booster organization, agrees with Hollett that Downtown's development and leasing momentum is improving. "Downtown is a deal when it comes to quality and the cost of commercial space," says Robinson, former president of locally based Portman Cos. "Simply put, there is no better time and place to consider Downtown than now. The price is right but you can bet that the value you can find today will be even more valuable in the future."