The estimated aggregate value of the office leases, based on an average 5.28-year term, is $3.51 million, according to average asking rent range and lease-length numbers supplied by CMD. The company also moved its regional offices to the class A RiverEdge Place from the 100%-leased nearby 2100 Riveredge Building.
"The increase in leasing momentum is due, in part, to CMD's recent renovation of the lobby and other common areas," says Allen D. Aldridge, vice president and regional manager of CMD's Southeast region. "These improvements helped lift the building's interior look to match its class A location, which combines great highway access with tremendous views of the Chattahoochee River."
Bill Weghorst and Tom Miller of Insignia/ESG represented CMD in all the leasing transactions, working under the direction of Aldridge.
The deals included Cognisa taking 12,222 sf for six years; Land Resource Companies LLC renewed its three-year lease for 6,204 sf, including 4,165 sf of expansion space; Atlas Roofing leased 5,844 sf for six years; The Pittman Group LLC is taking 3,011 sf; Stanley Holcombe & Associates Inc. leased 2,337 sf; Hunter Resources occupies 2,223 sf; and Related Management renewed and expanded its five-year lease for 1,478 sf.
Gail Crowder of Grubb & Ellis Co. represented Cognisa. Val Smith of Smith Realty negotiated for Land Resource Cos. Billy Hobbs of Trammell Crow Co. represented Atlas Roofing. Will Porter of Insignia/ESG bargained for The Pittman Group. Jerry Mendel of AFCO Realty negotiated for Stanley Holcombe & Associates Inc. Kevin Carroll of Insignia/ESG represented Hunter Resources. Related Management represented itself.
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