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Trizec Sets April GroundBreaking for $100M Spec Office Building

ATLANTA-The Chicago-based developer plans to have Two Alliance Center ready for occupancy in January 2008. The 485,000-sf class A structure in the Buckhead submarket will complement Trizec Properties' 558,000-sf One Alliance Center at 3500 Lenox Rd.

By Alex Finkelstein | Updated on November 18, 2005

ATLANTA-Despite an overall class A office vacancy of 17.6% and a third-quarter negative absorption of 119,278 sf in the Buckhead submarket here, Chicago-based Trizec Properties Inc. is moving ahead with its planned speculative Two Alliance Center at 3500 Lenox Rd.

In a prepared statement, David Canaday, Trizec’s senior vice president of the firm’s Central Region, says the building should be ready for occupancy in January 2008 after an April 2006 groundbreaking. He says Trizec has started preleasing activity with a formal marketing campaign scheduled for late November.

Locally based Colliers Cauble & Co. research director Scott Amoson puts the average asking full-service, class A office rent in Buckhead at $25.26 per sf. The 9.85-million-sf Buckhead class A market has 1.74 million sf of vacant space.

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