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ATLANTA-It’s getting to be an incestuous sublease situation in metro Atlanta these days. Companies are subleasing space from companies who are subleasing the same space from other companies who are subleasing the space from still another lessor.

Take the Coca-Cola Enterprises scenario, for example. The bottling firm is subleasing 17,000 sf from United Acceptance for two years at Northcreek Office Park near the OK Cafe in the tony Buckhead/Lenox district of Downtown.

United Acceptance had been subleasing the same space from Alexander Howden North America. Now United Acceptance is moving to 2400 Lake Park where it will be subleasing 10,000 sf from United Healthcare.

None of the parties disclosed terms of their subleases. But a new Richard Bowers & Co. second-quarter analysis of the 6.8 million-sf Buckhead/Lenox class A office submarket shows average asking rents of $28.62 per sf.

Buckhead/Lenox has a 95.09% occupancy level with only 331,449 sf available for rent. The affluent submarket is eight miles from Downtown.

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