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CompuCredit Takes 132,000 SF in Estimated $26-Mil Lease

ATLANTA-The 10-year contract brings the 245,940-sf, 10-story, 245 Perimeter Center office building to 100% occupancy. The property is 15 miles from Downtown. Negotiating for the tenant were Insignia/ESG's Sam Holmes, Anne Lofye and John Shlesinger.

By Judith Schonbak | Updated on January 03, 2001

ATLANTA-The 245,940-sf, 10-story 245 Perimeter Center office building, owned by investor Sam Zell’s Equity Office Properties Trust andslowly being vacated by its former single occupant, has nabbed an online credit card company as its primary tenant and boosted its occupancy once again to 100%. CompuCredit has signed a 10-year, 132,000-sf lease valued at an estimated $26 million.

Rental rates in the area range between $17 per sf and $23 per sf, and as high as $27 per sf for new properties. The building, in the central Perimeter market about 15 miles from Downtown, was built in the 1980s. Former tenant GTE Wireless, now part of Verizon, had occupied the entire structure and has been vacating space over the last 18 months. The company has until August to complete the move-out.

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