SEC TO ATLANTA PLAZA
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|The Securities and Exchange Commission has gone long on an investment in Buckhead. And it won't even pay a thing the first year.|
|With horns blaring behind us, we pulled over on East Paces Ferry Road to snap this of Atlanta Plaza, new home to the SEC, which has inked a 15-year deal for nearly 59k SF. It will move from its 44k SF space at One Live Oak by October of next year, says John Nester, an SEC spokesman. We first reported in November the Wall Street watchdog was in the market and did consider a number of Buckhead towers, including Cousins' Terminus 200 and Tishman Speyer's Two Alliance Center. Nester tells us the annual rental rate as of year two is established at $1.37M. And as with any good investor, the SEC does have an option to terminate the lease in 10 years, he says. CBRE's John Dolan helped rep SEC locally and CBRE's Chris Port helped lease Atlanta Plaza.|