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ATLANTA-Prentiss Properties Inc. of Dallas plans to start demolition by yearend of the 28,778-sf 2675 Building at Cumberland Office Park where the Texas developer plans to build a 120,000-sf structure scheduled to open by March 2003.

Prentiss officials wouldn’t tell GlobeSt.com the estimated construction cost of the planned spec building. But area construction industry estimators familiar with comparable projects tell GlobeSt.com on condition of anonymity the building, if it is class A, will cost at least $150 per sf or $18 million.

The first Prentiss building, torn down and reconstructed in 1998, carred a $20 million price tag. Projected average asking rent in the new building will be $24.50 per sf, Prentiss officials have previously stated.

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