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Lincoln Property Company Brokers Leases Totaling more than 144,300 Square Feet in North Fulton

13 Jul 2012

Lincoln Property Company Southeast has brokered three leases totaling 144,357 square feet in Atlanta’s North Fulton office market. Michael Howell and Hunter Henritze, both vice presidents of office leasing for Lincoln Property Company Southeast, represented the landlord, Equity Office, in the transactions.

The leases included the following deals:

• RedPrairie signed a direct lease for 80,314 square feet in Radiant II, located at 3905 Brookside Parkway in Alpharetta, Ga. The tenant, who was represented by David Demarest of Jones Lang LaSalle, had been occupying the space on a sub-lease.

• Select Management Resources renewed its lease for 40,347-square-feet at Preston Ridge IV, located at 3440 Preston Ridge Road in Alpharetta, Ga. Brad Kuehn of Atlanta Office Realty represented the tenant.

• Athena Health expanded its offices at Northwinds Pointe, located at 2550 Northwinds Parkway in Alpharetta, Ga., to a total of 23,696 square feet. The company’s lease consists of a 16,163-square-foot renewal and a 7,533-square-foot expansion. Phil Barry of Avison Young represented the tenant.

Radiant II, Preston Ridge IV and Northwinds Pointe are part of a 1.9 million-square-foot portfolio of North Fulton buildings that Lincoln is leasing on behalf of Equity Office.

“We continue to be encouraged by the leasing momentum in the North Fulton office market,” Henritze said. “Year to date, we have signed over 300,000 square feet of renewals, expansions and new leases in North Fulton. Furthermore, occupancy in these properties has risen from the low-80-percent range to the high-80-percent range, and we are hopeful to have the vacancy rate in the single digits by year’s end.”

“The activity in our portfolio is indicative of the North Fulton market in general, which is experiencing an influx of new tenants to the market as well as a good deal of organic growth,” Howell added. “ The North Fulton market offers excellent amenities, a highly educated labor force and strong demographics making it a highly desirable submarket for tenants.”

In December 2011, Equity Office awarded Lincoln Property Company Southeast contracts to manage 3.3 million square feet and lease 1.9 million square feet in suburban Atlanta. The management assignment covers buildings in the North Fulton and Northeast submarkets, and the leasing assignment is for buildings in North Fulton. Lincoln began servicing the contracts at the start of the year.