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ATLANTA-Chet Lacy, vice president of commercial properties at locally based Richard Bowers & Co., has closed six first-quarter, class A office leasing deals totaling 133,084 sf with an aggregate value of about $6 million. But Lacy credits his firm’s client, New York-based Sentinel Real Estate Corp., for the deals’ success, despite a gloomy metro leasing market that posted a negative absorption of 613,317 sf.

“Sentinel was extremely aggressive on these renewals,” says Lacy, who joined Richard Bowers & Co. in 1993. “They showed a prompt and appropriate response to the market that enabled us to get these deals done, despite the down market.”

Without commenting on the rent ranges, the broker says the deals were done for less than the current $16.60 per-sf average rental rate in the Peachtree Corners submarket. He calls the under $16.60-per-sf rent “a steal, when compared to the suburban average of $18.96 per sf and the overall metro Atlanta average of $20.39 per sf.”

Lacy filled a total 117,230 sf in Peachtree Corners alone. He says this submarket “ranks near the bottom of all Atlanta markets in absorption with 26,891 sf of negative absorption in the first quarter.”

The two largest deals included a 56,000-sf renewal of Siemens Energy & Automation at Lakeside at Spalding Triangle Office Park in the center of Peachtree Corners and a 33,225-sf deal with Parsons Water & Infrastructure. “Both deals are between three- and five-year terms,” Lacy tells GlobeSt.com. The Siemens deal is “in the neighborhood of $2.5 million; the Parsons deal about $1.5 million.”

Travis Jackson of Cushman & Wakefield of Georgia Inc. represented Siemens. Michael Kim with Studley negotiated for Parsons.

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