The tower will have parking for more than 1,100 cars and covered pedestrian access to Phipps Plaza. The five-level parking deck will provide direct access to tower elevators from each level. Lobby-level amenities include a restaurant, café and convenience shop.

Crescent vice president John Bell, who is the director of leasing for the project, has been in discussions with several prospective tenants. "The market is very active right now," Bell says. "We've identified more than 500,000 sf of qualified prospects presently in the market and another two million sf in lease expirations within the project's leasing period."

In addition to Phipps Plaza, the tower will be adjacent to the Ritz-Carlton at Buckhead. It is one block away from Georgia 400 and can be entered from Lenox Road, Peachtree Road and Phipps Boulevard. "The location is a tremendous advantage," says Bell. "The vacancy rate for buildings on the Buckhead Loop is a low 6%."