Coke Signs Three Leases at Est. $45M

ATLANTA-Cousins Properties Inc. has hit the office leasing jackpot with the signing of longtime client Coca Cola Enterprises Inc. to three separate leases totaling 214,000 sf in Wildwood Plaza for an average 10 years at an estimated aggregate rent of $45 million. The transaction is the largest office deal of the year in metro Atlanta.

“This is the type of client service that our company is built on,” Craig Jones, president of Cousins’ office division, says in a prepared statement. “We were able to help Coca-Cola Enterprises, a long-standing client, consolidate many of its headquarters functions in one office park, while also bringing added value to our Wildwood Associates partnership by releasing a sizeable portion of the vacated space at Wildwood Plaza.”

Carl Peak of Atlanta-based Carter & Associates Inc. negotiated for Coca-Cola Enterprises. Cousins officials declined to provide the value of the transactions. But metro Atlanta brokers familiar with the office market tell GlobeSt.com on condition of anonymity the effective rent on the deal was about $21 per sf.