One of Buckhead’s newest towers is approaching 85 percent occupancy, showing the continued lure of competitive rents in glassy new towers to Atlanta companies in older buildings.
Consulting firm North Highland will move into 70,000 square feet of Terminus 200, which was completed by Cousins Properties in 2009. The new lease brings the 25-story building to 84 percent occupied.
North Highland will move from 550 Pharr Road, a nearly 40-year-old building.
“In just over a year, Terminus 200 went from 10 percent leased to close to 90 percent leased,” Larry Gellerstedt, Cousins president and CEO, said in a statement. “Terminus 200 continues to benefit from office tenants seeking to trade-up to quality properties.”
It has also benefitted from a write down: In a November 2009 earnings release, Cousins said it took a $38.9 million write-down in the value of Terminus 200.
Terminus 200, a Class A tower, has a total of 564,000 square feet and is gold-level LEED (Leadership in Energy and Environmental Design) certified. Cousins owns it in partnership with Morgan Stanley.
Other tenants include Resources, Kids II Inc., Greenberg Traurig, Sony Ericsson and Fitzgerald+CO.
Brokers Brad Armstrong and Chris Wagner with Jones Lang LaSalle represented North Highland in the deal.
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