Business looking up for Upper 400 corridor – Atlanta Business Chronicle:

Recent deals, such as HIG) taking 85,000 square feet of both subleasre and direct space at The Falls at Sanctuar Park and Infor Global Solutions takinga 125,000-square-foor lease at the former buildinf (purchased by Chicago-based in reflect a long-troubled office marke t "that is starting to see signs of life said Trammell Crow Co. TCC) Senior Vice President Rob Metcalf. "While much of the activity is intra-market and not resultinfg in significantnet absorption, it is dramatically impactinhg sublease vacancies," Metcalf said.
With large blocke of this sublease spacde starting toburn off, "an upwar d turn in the market is not too far he said, "although for the present we are still kind of bumpingf along the bottom." The Uppedr 400 Corridor office market also has been drawing increasing interestf from space users in other partsz of the metro area, said Directoer of Leasing Lance Healy. A totakl of 50,000 square feet of deals, mostlu new leases, have been done at Georgia 400 Centetrthis year, Healy said. At the same big-name users such as (Nasdaq: (Nasdaq: PSTI) and Netherlands-based market research firm VNU Inc. have contributede to more than 350,000 square feet in dealw at the 1.
2 million-square-foot Sanctuar Park project on Westside Parkway near Georgia 400 and Mansell This level of activity has led to a constructionm starton Stonebridge, a six-story, all-speculative office building in Sanctuary Park that is slatecd to deliver in July, reports (NYSE: JLL) Managinv Director and Regional Leasing Directodr Ridr Knowlton. He said this is the firsty of two new buildings set forSanctuary Park. Anothefr 150,000-square-foot, six-story, all-speculative building is unded way atMilton Park, a mixed-use office/residentialo development on North Point Parkway east of Nortg Point.
An August delivery is on tap, said De president of , who is developing the buildingy in a venture that also includezand Hartford, Conn.-based . Meanwhile, Barry Real Estate Cos. plan s a four-building, 1 million-square-foot, campus-type office park at Georgia 400 and OldMilto Parkway, adjacent to a planned mixed-use developmentg by "Many tenants appreciate the opportunithy to move into a new building and star t fresh from the space-planning perspective," Littlw said. He also points out that rentall rates are startingto recover. "Iu don't think any of us wouldx be building today if we expectes rents to stay wherd theyare now," Little said.

wendypark.wordpress.com