Although not a mega-sized transaction, Keane was courted by several metro Atlanta office building owners, area brokers tell GlobeSt.com.
"We aggressively pursued Keane's renewal and worked hard to accommodate their new requirements," Bill Langley, vice president of PM Realty Group, says in a prepared statement. He handled the transaction for Gaedeke Landers and Blue Capital. Steven Hubberman and Jon Christensen from the Virginia and Atlanta offices of Julien J. Studley Inc. negotiated for Keane.
Area brokers tell GlobeSt.com the aggregate value of the contract is about $1.86 million. Average quoted rent at the 17-story, 75%-leased Platinum Tower is $22 to $23 per sf, according to the building's Web site.
Keane will move from its 11th floor quarters to the ninth floor where it will occupy almost all of the 20,000-sf floor plate. "The fact that Keane was willing to go to the trouble of relocating within the building instead of relocating out of the building confirms Platinum Tower is well-positioned in the market and has a lot to offer its tenants," Langley says. The Tower has 80,000 sf left to rent.
Gaedeke Landers manages the building at Interstate 75 and Interstate 285 for Blue Capital. Gaedeke and PM jointly lease the property for the owner. Blue Capital, whose U.S. office is in Dallas, is the managing general partner of three office funds and 10 retail funds totaling 5.4 million sf.
Other tenants at Platinum Tower are Borland Software Corp., Northwestern Mutual Financial Network, The TriVeritas Group, Cognos and IrwinMortgage.
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