ATLANTA-Cingular Wireless, the second largest wireless carrier in the nation, plans to lease about 300,000 sf for at least 10 years in the 20-story, 414,200-sf Glenridge Highlands Two office tower nearing completion about15 miles from Downtown, industry sources speculate. No lease has been signed and none of the parties is talking, however.

Cingular Wireless is the newly-formed joint venture between the wireless divisions of BellSouth and Texas-based SBC Communications. BellSouth is headquartered in Midtown.

Rental rates in the building and its sister structure, the 300,000-sf Glenridge Highlands One, range between $24.75 per sf and $30 per sf. The Cingular Wireless lease could be valued at $75 million, based on a 10-year lease.

The Atlanta office of Tampa-based Hogan Group began the building on a spec basis. In early September, the tower attracted its first tenant, independent accounting firm Habif, Arogeti & Wynne, which leased 49,000 sf.

BellSouth’s wireless division has about 2,300 employees in various locations. Upon formation, Cingular immediately had more than 19 million customers and 190 million potential subscribers in 38 states, Washington DC and two US territories, according to the company.

Cingular has annual revenues of about $12 billion. The company is 60% owned by SBC and 40% by BellSouth.

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