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Lincoln Property Company Southeast Brokers Atlanta Business Chronicle’s 20,000-Square-Foot Lease at Lenox Plaza in Buckhead

25 Mar 2013

Lincoln Property Company Southeast (Lincoln) has brokered the Atlanta Business Chronicle’s new 10-year lease of 20,000 square feet at Lenox Plaza, a nine-story, 100,882-square-foot office building in Atlanta’s Buckhead submarket, across from Lenox Mall. The paper, which is currently housed in the Atlanta Tech Village (formerly Ivy Place) building on Piedmont Road in Buckhead, is expected to move into its new space in August.

Leigh Braswell, a vice president at Lincoln Property Company Southeast, and Sabrina Altenbach, a senior leasing associate with the firm, represented HD Realty, the owner of Lenox Plaza, in the transaction. Ben Raney of Raney Cos. represented the Business Chronicle and its parent company, Conde Nast, in the deal.

The current tenant of the space exercised a termination option and Lincoln was able to lease the space before it could become available to the market.  The Business Chronicle chose Lenox Plaza in part because of the chance to place high-visibility signage on the building, according to Altenbach.

Under Lincoln’s management and leasing, Lenox Plaza has led the Buckhead submarket in absorption for the past two quarters, and the building’s occupancy rate has increased from 50 percent to 80 percent leased in that time.

“Sabrina and Leigh have done a tremendous job with Lenox Plaza, and the addition of such a prominent tenant should only serve to further increase interest in this outstanding property,” said Tony Bartlett, a senior vice president of Lincoln Property Company Southeast. “We are extremely proud of the job we’ve done in repositioning and improving the rent roll for this asset.”