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Behringer Harvard Repositions Office Portfolio

ATLANTA-Jones Lang LaSalle is hired to lease of four buildings totaling 1.3 million square feet.

By Carl Cronan | Updated on January 25, 2010

ATLANTA-Behringer Harvard has repositioned its local office portfolio after successfully recapitalizing its Ashford Perimeter building. The Dallas-based landlord has hired Chicago-based Jones Lang LaSalle to handle leasing at all three of its buildings, which total 1.3 million square feet and also include Paces West and Resurgens Plaza.

All four 1980s-vintage buildings, which were acquired by Behringer Harvard over the past five years, will now be able to give prospective tenants greater confidence in negotiating new leases, says Dean Patterson, the company’s vice president of asset management in Atlanta. Asking rents at the buildings range from $20 to $28 per square foot.

“The successful recapitalization of Ashford Perimeter now provides additional capital resources that will enable JLL to exercise wider latitude in meeting the unique space requirements of many types of potential tenants for that property,” Patterson says. “We have reliable access to the capital required to make appropriate tenant improvements and offer attractive commissions to brokers.”

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