The estimated $43 million, class A, 11-story, 285,000-sf structure would compete directly with two other major developers. They are locally based Pope & Land Enterprises Inc. and a joint venture of Jones Lang LaSalle and Transwestern Investment Co., both of Chicago.

Pope & Land plans to erect a 350,000-sf building at an estimated hard construction cost of $53 million at the 18-acre One Glenlake site at GA 400 and Abernathy Road. Jones Lang LaSalle and Transwestern are marketing an 11-story, 275,000-sf, spec tower at Glenridge Point.

The three towers, if completed, would add 910,000 sf of new class A product to the 21.9 milion-sf Interstate 285-GA 400 submarket, according to the latest research from Atlanta-based Richard Bowers & Co. The class A space in this submarket totals 13.4 million with an occupancy rate of 91.06% and an average asking rent of $24.62 per sf.