Howard Pharr, the firm's president, admits to having some short-term concerns expanding in the current jittery economy. However, he believes its worldwide client base, which includes projects in Dubai and London, will allow HBA to grow even in difficult times.
"Consistent marketing efforts and a blue-chip reputation for designing world-class hotels around the globe make HBA a safe bet for owners in good times and bad," Pharr stated in a release. "The tremendous boom in Atlanta over the past few years has made it one of the bright spots in the US market as well."
HBA worked with locally based Colliers Spectrum Cauble in considering as many as 25 properties for its larger office, Pharr said. The company, which has operated for nearly half of its 40 years on West Peachtree Street, believes its new Midtown location will provide what he called "the perfect combination of physical opportunities, location and image for our needs."
Two Peachtree Pointe, owned by Dewberry Capital Corp., is a 12-story, 310,000-square-foot class A office tower at 1555 Peachtree St. Financial terms of the new lease with HBA are being kept confidential.
"Not every firm is contracting," commented Robert Allen, senior vice president and principal at Colliers Spectrum Cauble. "Many companies are still expanding, and strong, growing tenants like HBA have ample opportunities to explore options for new and existing office space. Actually, there's no better time for well-positioned companies to examine such options."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
