Cingular Taking 376,000 SF in One of Year's Biggest Leases

ATLANTA-In one of the largest area office leases this year, Cingular Wireless is taking the entire 376,000-sf office building on Windward Parkway near the GA 400 in suburban Alpharetta, 30 miles north of Downtown Atlanta.

Cingular and Barry officials couldn’t be reached at GlobeSt.com’s publication deadline to learn lease details. But area brokers familiar with the deal tell GlobeSt.com on condition of anonymity the lease is at least for 10 years with options to renew.

Based on the most recent research from Atlanta-based Richard Bowers & Co., the average asking class A rent in the GA-400 North submarket is $22.14 per sf. That would give the Cingular lease an estimated aggregate value of $8.32 million per year or $83.25 million for 10 years.