That achievement caps Bowers' six-year leasing goal after buying the former Coastal States building in 1999 for $8.8 million. The building at that time was 40% occupied, as Globest.com previously reported.
"This is an incredibly significant [leasing] development, both for this building as well as Downtown," says Bowers, who is chairman and CEO of his company. "We have spent more than five years of hard work renovating and marketing 260 and 270 Peachtree, so to reach the milestone of 90% occupancy now at 260 is a tremendous milestone and one we are very proud of."
The three six-year leasing deals have an aggregate rent value of $2.2 million. The new tenants are Indiana-based Ace Mortgage Funding LLC taking 11,981 sf; Sigrid Olsen, 2,440 sf; and Stack & Associates, 1,117 sf. There are 38 tenants at 260 Peachtree with 51% of the tenants gravitating to the building from submarkets outside Downtown and outside the state, Bowers says.
Bowers & Co. brokers Donnie Miller and George Smeltzer represented their firm in the new leases. Nicole Janney of Trammell Crow Co. negotiated for ACE Mortgage.
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