Friday, September 25, 2009

Carter Hired to Market Atlanta Center

Downtown Office Tower Offers Largest Space in Submarket

ATLANTA, GA  (Sept. 25, 2009)—Carter, one of the country’s leading full-service commercial real estate firm since 1958, has been hired to market Atlanta Center for lease or sale.

Westmont Hospitality Group, owner of Atlanta Center, a 20-story, 362,340-square-foot office tower at 250 Piedmont Ave., selected the Carter’s Project Leasing Team of Senior Vice President Mike Shelly and Senior Associate Sonia Winfield to lease the building. Carter Senior Vice President Gary Lee and Vice President Andrew Murphy simultaneously will market the building for sale.

Atlanta Center is net-leased to SunTrust Banks Inc. through year end 2010. Carter will begin searching in earnest for replacement tenants at the beginning of next year. Carter currently is developing a strategy to attract tenants to the tower in Atlanta’s Downtown submarket.

“Atlanta Center offers the largest block of contiguous space in the Downtown submarket,” Shelly said. “Because it is a lower-cost alternative to other Downtown office buildings, Atlanta Center is ideal for a state or local government agency and other cost-conscious tenants.”

Atlanta Center, adjacent to the Downtown Connector, is surrounded by amenities. The office tower is connected to the Atlanta Hilton (top right photo)  by a covered walkway. The hotel is home to two award-winning restaurants, a swimming pool, fitness center and drug store. Several of Atlanta’s largest attractions, including the Georgia Aquarium, World of Coca-Cola, CNN Center (middle left photo)  and Philips Arena, are within walking distance of Atlanta Center.

In addition, Atlanta Center is connected by covered walkways to the Peachtree Center MARTA Station and Peachtree Center mall and food court. “It is hard to match the amenity base and accessibility of Atlanta Center,” Winfield said.

The office tower has high visibility along Atlanta’s Downtown Connection and offers a great signage opportunity for a large tenant.

For interested buyers, Atlanta Center offers adaptive reuse opportunities such as student housing, especially as Georgia State University continues to expand its presence Downtown, Lee said.

“We will work hard to identify and sign new tenants at Atlanta Center,” Shelly said. “We also will actively market the building for sale.”

Media Contact: Tony Wilbert, Wilbert News Strategies LLC, 404-888-3091 office/404-405-3656 cell

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