The company's prepared statement did not disclose the amount of space it is leasing and the length of the lease term in Tower Place.
Thomas was the point man in Lowe's acquistion in December of the 13-story, 259,000-sf, class A Tower Place 200. Lowe bought the 98%-leased asset for a pension fund client from Regent Partners for $50 million or $193 per sf. Lowe didn't identify the client on confidentiality grounds.
Tower Place 200 is part of the 1.1 million-sf Tower Place Complex, regarded as one of Atlanta's premier business locations.
"The Southeast's relatively low cost of living continues to attract new residents as well as businesses seeking educated employees," Ted Leary, president of Lowe Enterprises Investment Management, says in the statement. "As long as these fundamentals are in place, the region will remain a healthy market for real estate investment."
Lowe Enterprises is currently developing three million sf of commercial in Southern California and manages $3 billion in real estate assets for pension fund clinets. The firm has satellite offices in Orange County, CA, Denver, London, Phoenix, San Francisco, Sacramento, Seattle and Washington, D.C.
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