Reeling In Interest
May 7, 2010
By Martin Sinderman

As would be expected, the latest wave of office buildings in Buckhead is causing headaches for a number of landlords here, as tenants move from older class A buildings into the gleaming new towers of Atlanta’s high-end office market. ...

... With or without a lot of lead time, landlords of the older class A buildings in Buckhead have their work cut out for them in backfilling all that vacated space, said Studley Inc. Executive Vice President Andy Lechter. Along with Studley Managing Director Josh Hirsh, Lechter recently represented the Thompson Hine LLP law firm in inking an 11-year, 30,048-square-foot deal at Two Alliance Center.

The good news is that a lot of prospective users are likely to be taking a look at these spaces. Brokers say the concession packages Buckhead landlords are offering are garnering interest from tenants in the Central Perimeter and other suburban markets that once considered the area too pricey but are now reevaluating.

“There is a substantially increased level of activity [among prospective office tenants] in Buckhead and throughout Atlanta,” Lechter said. Businesses have moved out of the survival mode they have been in during the past 12 to 18 months, he said, “and now they are ready to take advantage of real estate opportunities available in Buckhead and other markets.” ...

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