NationsBuilders Insurance Services, Inc. (NBIS), the industry leader in construction insurance, has renewed its 10-year, 17,013-square-foot lease at Overlook III, an office project in Vinings.
Studley Managing Director Josh Hirsh and Executive Vice President Andrew Lechter represented NBIS in the transaction. Chuck Francis and Jeff Dils of Cousins Properties represented the building landlord, Parmenter Realty Co.
According to Hirsh, NBIS evaluated all viable options in the market before deciding to stay in its existing building.
"Keeping NationsBuilders at Overlook III proved to be the best solution," said Hirsh. "After a series of negotiations, we were able to structure a transaction with the landlord that provided our client with significant immediate and long-term cost savings."
Overlook III is a 438,709-square-foot, 21-story office tower in the historic community of Vinings in northwestern Atlanta. Tenant amenities include an on-site private dining room, a fitness club, exterior balconies with 360-degree views and convenient access to I-75, I-285 and US Highway 41. Designed by Smallwood, Reynolds, Stewart & Associates, Overlook III was completed in 1987 and renovated in 2004.
NBIS, which has office locations in Baltimore, Chicago, San Diego and Atlanta, has been a tenant in the building since 2004.
Studley is the only global tenant advisory firm with a pure tenant representation delivery platform. Founded in 1954, Studley pioneered this conflict-free business model. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley throughout Europe, Studley provides strategic real estate consulting services to top-tier corporations, law firms, nonprofits, government agencies and institutions of higher education. Information about Studley is available at www.studley.com.