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AFC Enterprises Renews 80,000-SF Lease for Estimated $16M

ATLANTA-The locally based restaurant owner/operator is remaining at the 697,400-sf, 85%-leased Six Concourse Parkway for at least another 10 years. Effective rents are down from $25-per-sf highs, area brokers tell GlobeSt.com.

By Stacey Corso | Updated on March 19, 2002

ATLANTA-Locally based AFC Enterprises Inc. is keeping its headquarters office in the 11-year-old, 33-story, 697,400-sf Six Concourse Parkway for at least another 10 years. The restaurant owner/operator is renewing its 80,000-sf lease for an aggregate estimated rent of $16 million or about $20 per sf.

Colliers Cauble, which negotiated for the tenant, wouldn’t give GlobeSt.com the current average asking rents at Six Concourse. But area brokers tell GlobeSt.com on condition of anonymity the previous $25-per-sf rent is down to the $20 per-sf to $22 per-sf range. Richard Bowers & Co. puts the average class A metro rent at $21.58 per sf and the area’s average vacancy level at 11% at the beginning of fourth quarter 2001.

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