Kilpatrick Stockton, whose history in Atlanta dates back to 1874, currently occupies approximately 270,000 square feet at the 1100 Peachtree building in the Midtown submarket. The firm has been a tenant there since 1992.
"We have a great opportunity to help Kilpatrick Stockton explore various alternatives in a market with unprecedented dynamics and opportunities," says Duncan Gibbs, managing director in Jones Lang LaSalle's Atlanta tenant representation group. He adds that plenty of possibilities exist, including renewal at 1100 Peachtree.
Gibbs will be working with colleagues Brad Armstrong and Shan Gastineau in representing Kilpatrick Stockton. They have previously advised a range of local law firms on office space needs, including Bryan Cave Powell Goldstein, Womble Carlyle Sandridge & Rice and Hunton & Williams.
Judging from recent market data, now is a good time for tire-kicking by larger office tenants in Atlanta. Areawide vacancy topped 20% at this year's midpoint, including 22% in Midtown, with average asking rents measuring just above $21 per square foot, according to Jones Lang LaSalle research.
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