CoStar Moves to Buckhead; Highwoods Signs Two New Tenants at 2800 Century Center

CoStar Group, Inc. will soon be headed to Buckhead, as the commercial real estate services provider recently signed a lease for 26,800 square feet at Phipps Tower.

CoStar Group, Inc. will soon be headed to Buckhead, as the commercial real estate services provider recently signed a lease for 26,800 square feet at Phipps Tower.

Cassidy Turley’s Senior Managing Director Kirk Diamond, Managing Director Bradley Fulkerson and Associate April Hawkinson represented CoStar in the 11-year lease of a full floor at Phipps Tower, located at 3438 Peachtree Road in Atlanta’s premier Buckhead market.

CoStar’s criteria for space included convenient access, prominent signage and proximity to amenities. With the help of Diamond, Fulkerson and Hawkinson, CoStar was able to secure all three criteria including a coveted spot on Phipps Tower’s new digital LED sign.

Highwoods Properties, Inc. has also managed to find two new tenants for its 221,000-square-foot 2800 Century Center. The company has signed two long-term leases totaling 26,000 square feet with two customers; these transactions include a 16,000 square foot lease with a healthcare company and a 10,000 square foot lease with an accounting/financial services-oriented professional firm.

Ed Fritsch, president and CEO of Highwoods, stated, “We are pleased with the continued leasing activity at 2800 Century Center. In less than a year, we have backfilled almost half of this property and we have solid prospects for a substantial portion of the remaining space. Our leasing efforts have been strengthened by $3 million of recently completed aesthetic improvements, and we continue to leverage the property’s excellent central location inside the I-285 perimeter and its visibility from I-85.”

The 2800 Century Center is now 42 percent leased, and is headed toward a slow recovery after telecom giant AT&T—which leased the entire building—vacated the property in April 2011.

Image: Phipps Tower via Wilbert News Strategies