Equity officials declined to disclose additional details on the transaction. However, area brokers familiar with the submarket tell GlobeSt.com the estimated five-year lease has an estimated aggregate value of $1.53 million, based on an effective rent of $20 per sf.
Wells Fargo nationally has leased a total one million sf at Equity Office-owned properties, according to a prepared statement from the building owner. "Negotiating with the same landlord in multiple locations helps to reduce the negotiation time and allows us to occupy new space quickly," Wells Fargo vice president Barbara Reeve-Bailey says in the same statement.
The California bank will occupy half of the sixth floor in the 18-story, building which has an eight-level parking garage with 1,400 vehicle spaces. The building, which has floor plates of 28,000 sf, sits in a 55-acre, 600,000-sf office park near the Perimeter Mall, Park Place Mall and a Marta station.
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