SunTrust's current lease at 250 Piedmont Ave. expires at the end of next year, while the new lease commences in January 2011. The transaction brings the 451,000-square-foot Marquis II tower to more than 96% leased.
"After considering various locations, the Marquis II building offered the best fit for our changing business needs while allowing us to maintain a close proximity to our corporate headquarters at SunTrust Plaza," says Doug Sinclair, SunTrust's senior vice president of corporate real estate. Brokers involved in the deal noted that SunTrust were committed to keeping its information services center within Downtown Atlanta.
Bill Hollett and Mike Werner of ACP represented the building, along with Chris Port and Jeff Keppen of CB Richard Ellis. SunTrust was represented by Frank Mann and Tony Zivalich of Cushman & Wakefield.
Peachtree Center encompasses six office towers and retail space totaling more than 2.4 million square feet. The SunTrust lease is the largest signed there since the Nuclear Regulatory Commission took 100,000 square feet in the Marquis I building in December 2008.
ACP owns more than four million square feet of commercial space in the Atlanta market, including Ten 10th Street, Two Ravinia, the Cornerstone Building and Breckinridge Center. The private real estate company would not disclose terms of the SunTrust lease.
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