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Law Firm Grows Lease to 114,000 SF at Bank of America Plaza

ATLANTA-Locally based Hunton & Williams expands from 94,000-sf and renews its lease through spring 2009. Terms were not disclosed, but brokers suggest the rate is between $22 and $23.50 per sf. Area brokers estimate the aggregate value of the lease at $16 million.

By Marita Thomas | Updated on July 23, 2002

ATLANTA-The locally based Hunton & Williams law firm adds 20,000 sf to its existing 94,000-sf space in the 55-story Bank of America Plaza and renews its lease through spring 2009.

Asking rental rates for this and other trophy buildings in Downtown Atlanta are slightly above $26 per sf, according to GlobeSt.com research. However, area brokers tell GlobeSt.com that deals are prevalent and estimate the law firm is not paying in excess of $22.50 per sf.

Based on an estimated $20 per-sf rent, the new seven-year lease has an estimated value of $15.9 million, area brokers familiar with the Downtown submarket tell GlobeSt.com on condition of anonymity.

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