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Two New Office Towers Top Out

ATLANTA-Two Alliance Center and Terminus 200 are expected to open amid 20% vacancy.

By Carl Cronan | Updated on January 07, 2009

ATLANTA-Two new office towers will open later this year in the Buckhead submarket amid the prospect of citywide vacancy in the 20% range, and at above-average asking rents. Two Alliance Center held its topping-out ceremony Wednesday in Buckhead, while Terminus 200 is scheduled to do the same Friday.

Two Alliance Center, an $85-million project by Tishman Speyer Properties at 3500 Lenox Road, is scheduled to open this summer, two years after commencing construction. The 20-story glass-clad building, which features a curved design similar to a sail, will contain 493,000 square feet with asking rents of $33 per square foot.

The 25-story Terminus 200 building, at 3333 Piedmont Road, is also set to open this summer with 565,000 square feet at a cost of $172.5 million. Its developers, Cousins Properties Inc. and Prudential Real Estate Investors, signed the building’s first two restaurant leases this past summer, III Forks steakhouse and gourmet Mexican restaurant Cantina Laredo.

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