NPI, a financial management advisory firm focused on technology and transportation spending, is subleasing its top-floor space from original tenant Acuity Brands and landlord Manulife Financial at the 24-story Proscenium building. Details were not disclosed, though the rate is substantially less than the building's current asking rents of around $30 per square foot.
"It gives the client a good discounted rate in a trophy building in Midtown, and it gives them a very professional image," Andrew Waguespack, CresaPartners vice president in Atlanta, tells GlobeSt.com. He says the sublease availability at Proscenium was the most cost-effective alternative to maintaining NPI's Midtown presence while allowing for growth.
Waguespack worked with CresaPartners vice president John Flack and principal Richard Chrismer in representing NPI. Richard Courts of Carter & Associates represented Acuity Brands while Rick Strom, leasing manager at Proscenium, represented Manulife Financial.
Meanwhile, Baer Group is moving its base to 900 Ashwood Parkway from Perimeter Center in Dunwoody. Peter Aaron, president of the retail consulting firm, says the current competitive market allows it to upgrade its image and attract top talent.
Kevin Creel, a CresaPartners principal, and VP Joe Grace assisted Baer Group in lease negotiations. Greg Frankum, senior VP of CB Richard Ellis, represented the building's owner, Griffen Capital (Ashwood-Southfield) Investors. Terms of the lease were not disclosed.
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.
