The new facility is a four-story building that includes a data center. Construction is ahead of schedule, ChoicePoint spokesman, Chuck Jones, tells GlobeSt.com. The general contractor is locally based R. J. Griffin & Company. Completion is set for April 2003.
Jones declined to disclose construction costs. Area construction industry estimators tell GlobeSt.com on condition of anonymity the building is probably being built at a hard construction cost of $150 per sf or a total $30 million.
"We will occupy half of the building with new employees and existing ones that will be consolidated here from various other offices," Jones says. The remaining 100,000 sf is being leased for ChoicePoint by locally based Holder Properties.
Neither Holder nor Jones would disclose lease terms, but asking rental rates for office property in Alpharetta currently range from about $20.53 per sf to $21.90 per sf, according to GlobeSt.com research. Tenants were not identified, but Jones says the space will be fully leased by the end of this year.
ChoicePoint provides identification and credential verification services and systems. Revenues for first-quarter 2002 rose 18%, and revenues were up 43%, compared with the same quarter a year ago.
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