The brokers negotiated a 10-year, 17,500-sf lease for building owners Manny and Stacy Fialkow to locally based Turner Associates/Architects and Planners. The estimated aggregate value of the lease is $2.63 million. Quoted average rent in the 70%-leased, 77,691-sf building is $19 per sf.
Turner and Hard Rock Café are the sole tenants in the building with original hardwood floors and 10-foot ceilings at Peachtree Street and International Boulevard. Earlier this year, McNaughton-Cooper-Caldwell brokered the sale of the 1925 building, also known as the Hard Rock Café Building.
"The (Turner) deal is great for Downtown," McNaughton tells GlobeSt.com. "Here was a user who wanted to stay in the CBD and be part of its revitalization with the redevelopment of Centennial Park, new residential, the CNN complex" and other nearby projects.
Turner is relocating from Downtown's Healey Building in January. Scott Nelson and Todd VanEe of Equis represented Turner.
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