Red-Hot North Fulton Entices Spec Office Project

Although there has been no pre-leasing, the developers recall a sister building, Oakview I, also a spec venture, was 85% leased when it opened in April of this year. Class A rental rates in North Fulton, 25 miles north of Downtown Atlanta, average $21.90 per sf, according to Richard Bowers & Co.'s midyear office market report. J.P. Morgan acquired the 150-acre Sanctuary Park in 1997 as part of a 13-building portfolio transaction with GE Real Estate Equities and American Resurgens Management Corp.