Search
 

Downtown Centennial Tower Close to Full

ATLANTA-A new 10-year lease and an expansion bring the 637,000-sf, 16-year-old Centennial Tower Downtown to 50,000 sf away from 100% occupancy.

By Judith Schonbak | Updated on September 27, 2000

ATLANTA-Downtown supporter Turner Broadcasting System expanded its space in Centennial Tower, adding another 18,118-sf floor to its leased quarters. The 10-year lease brings Turner’s presence in the building to a total 263,704 sf.

At the same time, the Georgia Building Authority signed a seven-year lease for 18,800 sf in the class A office tower. The GBA signed on behalf of the State Data Research Center & Office of Education Accountability, which will move into the 25th floor by the end of the year.

Rental rates Downtown average $22 per sf. The leases leave just 50,000 sf vacant in the 637,000-sf building, according to leasing director Jeff Shaw. Insignia/ESG owns the asset. Five years ago, pre-1996 Olympics, only a handful of folks imagined the Downtown market would be hot. But hot it is with a mid-year occupancy rate of 91.8%. according to Richard Bowers & Co.’s mid-year report.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.