GE Consumer Finance Leases 203,000 SF in $35M Deal

ATLANTA-In a fast-track, four-month deal that satisfied all of the players, GE Consumer Finance bought out a 10-year, class A office lease from E*Trade and then leased the five-story, 203,000-sf 4125 Windward Plaza Dr. building from owner Holder Properties for 10 years.

The three-year-old North Fulton County building had sat empty for two years while E*Trade, an online brokerage, tried unsuccessfully to sublease the space. E*Trade had seven years left on its lease and was paying rent to Holder, even though it didn’t occupy the space. North Fulton office vacancy rates are in the 30% range.

“All parties to this transaction were winners,” CB Richard Ellis Inc. senior vice president Rob Metcalf tells GlobeSt.com. “GE secured an ideal solution for an attractive price. Holder Properties secured a great credit long-term tenant. And E*Trade was relieved of a long-term financial obligation.”