William Carter Co. is taking 60,000 sf on a seven year to 10-year lease with an estimated aggregate rent value of $12.5 million. American Management Association is leasing an entire 25,000-sf floor for 10 years at an estimated $6.5 million. Carter is relocating from Morrow, GA in south metro Atlanta.
Trammell Crow wouldn't disclose the value of the leases but GlobeSt.com estimated the numbers from the building's full-service asking rents of $26.50 per sf to $28.50 per sf.The two leases were the first signed since pre-leasing began in mid-1999.
TCC started construction in September with four tenants taking pre-leased space. Competition is heating up in Midtown as space becomes available in what has been a tight market. Vacancies have ranged between 8% and 10%.
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