The 10-year, 199,176-sf contract is valued at $45.3 million ($22.74 per sf), according to Raleigh, NC-based Highwoods. The DOR is leasing former space occupied by a BellSouth unit. The move is all the more ironic since Gov. Roy Barnes has made 'smart growth' and mass transit among the key issues of his administration, political observers say.
Over the last month, various groups, including Central Atlanta Progress and Mayor Bill Campbell, have made an effort to convince the agency to stay Downtown. Studies indicate individual employees who drive will save about $250 a year in parking fees. Century Center does not charge for parking and with the amount of leased space, the DOR will have 800 parking spaces for its use, Highwoods officials confirm.
One serious contender that might have kept the DOR Downtown was Richard Bowers & Co.'s 260 Peachtree Street. The building, currently under renovation, is in the heart of the Downtown business district and almost on top of the Peachtree Center MARTA train station.
Richard Bowers, which would have provided 400 on-site parking spaces, offered to cut its rate for 250 additional spaces to $50 per month. The rate normally runs $85 to $100 per month.
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