The 38-year-old, six-building property, owned by New York-based Colonnade Properties LLC, has signed Smith, Currie & Hancock law firm to a 12-year, 38,826-sf, $3.2-million renewal lease. The tenant is moving from the 397,709-sf Harris Tower to the 451,266-sf Marquis Two Tower.
Carlock, Copeland, Semler & Stair lawyers have expanded their 15-year, 43,000-sf lease by 13,000 sf in a deal valued at $6.1 million. Carlock Copeland's quarters are in the Marquis Two Tower. The deals with the law firms took eight months each to complete, from contract signing to closing. Peachtree Center's tenant roll lists 65 law firms.
At the 307,219-sf South Tower, Georgia Capital Defender has expanded its five-year lease by 3,278 sf at an estimated value of $1.16 million. A new tenant at the 303,787-sf North Tower is the Family Connection, which is taking 14,055 sf for five years at an estimated aggregate rent value of $1.19 million. The average asking office base rent at Peachtree Center is $18.50 per sf.
Brokers Bert Sanders and Monty Harris of Newmark negotiated for Smith Currie. Ben Raney of Barry Real Estate Cos. represented Carlock Copeland. John O'Neill and Addison Meriwether of Cushman & Wakefield of Georgia Inc. negotiated for Georgia Capital Defender. Kirk Diamond at Carter represented the Family Connection. Craig Flanagan, senior vice president, Colonnade Properties, represented his firm in all the leases.
Besides the office buildings, Peachtree Center has a three-tiered, 70-shop mall, a 73,500-sf athletic club and several parking decks. Colonnade Properties acquired the property in 1998. The complex won international recognition from BOMA International in the one-million-sf-plus category in 2004.
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