The new four-acre venture will complement One Capital Plaza, anexisting 17-story, 410,000-sf office tower on a three-acre pad.Rubenstein has been assembling the $65-million package for the pasttwo years. Completion of Two Capital City Plaza is tentatively setfor 2002.
Office rents in Buckhead, an affluent Atlanta district, areabout $30 per sf range for class A space. This submarket had a 4.4%vacancy rate among its 9.2 million sf inventory in the first half,according to sources.The Two Capital City Plaza site has access toboth Peachtree and Lenox roads and is adjacent to the MetropolitanAtlanta Rapid Transit Authority Station in Buckhead.
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