Experts say the renaissance is the result of safer and more economically favorable conditions Downtown and the addition of major projects, such as the Georgia Aquarium, World of Coca-Cola and Georgia State University's expansion. "Downtown can be a fun and exciting place to be," Richard Bowers & Co. CEO and founder Richard Bowers tells GlobeSt.com.

In the past two months, there have been several large sales of office properties. In July, a partnership between locally based Cousins Properties and the Bank of America Corp. agreed to sell the 55-story Bank of America Plaza for a record-setting price of $436 million to an affiliate of Los Angeles-based BentleyForbes. Two weeks ago, Cousins announced that is had contracted to buy Chicago-based Equity Office Properties Inc.'s 1.2-million-sf, 20% occupied 191 Peachtree Tower for $153 million, as GlobeSt.com previously reported.

Leasing activity has also been strong. On Aug. 9, Cousins announced that the American Cancer Society signed a 274,000-sf lease at Inforum, a 994,000-sf building in Downtown, as GlobeSt.com also reported. In the announcement Larry Gellerstedt, president of the company's office/multifamily division said, "It's yet another sign that downtown is headed in the right direction."

In the first half of the year, 26 leases totaling 215,371 sf have been signed at the Peachtree Center, which has 2.3 million sf of office space. Among leases signed in recent months are a 20,166-sf lease by Robert and Co. and a 29,124-sf lease renewal by Kutak Rock. "Our activity in the first half of the year is indicative of the appeal of Peachtree Center and the continued renaissance of Atlanta's Central Business District," says Vance James, who leases the building on behalf of its owner, New York-based Colonnade Properties.

Locally based Richard Bowers & Co. owns several buildings in the Downtown area, including 260 Peachtree where the company moved its headquarters in 2004. Bowers says there are 35 tenants in the buildings, more than half of whom moved from other submarkets in the city. "Downtown has many favorable advantages over other areas," Bowers says. "The infrastructure and economics are more favorable and it is the only true pedestrian submarket in the city."