ATLANTA-The OCI Chemical Corp., a subsidiary of the South Korean-based OCI Company Ltd., the world’s third largest producer of natural soda ash, is not a glamorous company. But in late March, the company signed a 13,770 square foot lease for its North American headquarters at the 687,107-square-foot Five Concourse Parkway building in the Concourse Corporate Center. The building is in one of Atlanta’s most fashionable areas near the Perimeter Mall and the I-285 Expressway, which circles Atlanta, says the tenant representative, who wants to remain anonymous.
The company will be moving, in the third quarter of 2010, from an approximately 8,000-square foot space at 1800 West Oak Commons Court in Marietta, an Atlanta suburb. The ability of OCI to move up in the world and nearly double its space, is a reflection of the soft office market in Atlanta. Billy Hobbs, managing principal with Cresa Partners in Atlanta, which represented OCI, says that he was able to “negotiate extra benefits for OCI Chemical,” without specifically alluding to concessions from the landlord.
The 22-year-old Five Concourse Parkway is 94.3% leased. The rental rate at the building is quoted as $24.50 per square foot.
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