The building, now 68% leased, was completed in 1997. The lead tenant in the class-A property is Hewlett Packard, which occupies 79,000 sf. Textron is relocating from Two Point Royal, also in North Fulton.
Greg Frankum, director of leasing and Michael Aiken, both of the Atlanta office of New York-based Insignia/ESG, represented the building owner. Kevin Mitchell and David Payne, principals of locally based Benchmark Resources, negotiated Textron.
"Given the current market conditions, Textron wanted to lock into the benefits of a long-term lease," Mitchell says in a printed statement. The lease "gives the building positive momentum heading into the last half of the year," the broker says.
Textron is a commercial finance company with $9.4 billion in managed receivables. Its operations include aircraft finance, revolving credit, specialty finance and structured capital.
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