Leases Totaling 44,000 SF Take One Alliance Center to 86% Occupancy

ATLANTA-Seven separate five-year to 10-year leases, aggregately valued at an estimated $8.22 million, are taking the 21-story One Alliance Center on Lennox Road in the city’s affluent Buckhead district to 86% occupancy.

New York-based Trizec Properties Inc. completed the 560,000-sf, class-A building in late October 2001.

Trizec wouldn’t disclose rental rates but area brokers tell GlobeSt.com on condition of anonymity the rates are “at or above market rate.” That would place the existing average rent at a conservative $27 per sf, area brokers project.

The average asking rates in Buckhead are among Atlanta’s highest and range between $26.90 per sf and $28.12 per sf, according to GlobeST.com research.

Greenwich, CT-based Arch Insurance Co. signed a 10-year, 12,700-sf lease at an estimated aggregate rent of $3.43 million. John Ferguson of the Atlanta office of New York-based Insignia/ESG represented this division of Arch Capital.

Locally based Register & Ackers, a regional investment firm, is taking 8,000 sf for seven years for an estimated $1.51 million. Bob Matthews and Fred Sheats of Colliers Cauble, Atlanta, represented the tenant.

St. Paul, MN-based Meridian Management, exclusive marketing agent for the International Olympic Committee, signed a five-year, 7,000-sf lease for an estimated $945,000. The tenant was represented by Ann Lofye of Atlanta’s Insignia/ESG office.

ABN AMRO, the Netherlands-based baking giant, signed a five-year lease for 6,000 sf at an estimated total rent of $810,000. David Tyler of locally based Corporate Real Estate Services represented the tenant.

R.A. “Bucky” Brooks of the local office of Albuquerque, NM-based First Commercial Real Estate Services represented locally based Lockton Benefits of Georgia in a five-year, 5,000-sf lease with an estimated value of $675,000.

Stamford, CT-based United Systems Integrators signed a five-year, 3,500-sf lease for an estimated $472,000 and was represented by Mike Wells of its in-house brokerage services division.

Gotel, a U.S. subsidiary of the British-based telecommunications company, signed a five-year lease for 2,800 sf at an estimated $378,000.

John O’Callaghan of locally based NAI/Brannen Goddard represented the tenant. Gail Peeler, Trizec’s on-site leasing agent, represented the owner in all of the transactions.