SunTrust Bank leased 252,822 square feet of office space at the 28-story Marquis II building at 285 Peachtree Center Ave. NE in downtown Atlanta. The move-in is set for January 2011.
The Atlanta-based financial holding company will relocate its Enterprise Information Services group from Hilton's 20-story, 330,765-square-foot office property at 250 Piedmont Ave. NE when its lease expires at the end of next year.
SunTrust will occupy 14 floors at 285 Peachtree Center, taking over some of
Deloitte & Touche LLP's upper floor space when the tax audit firm relocates to
191 Peachtree St. NE next month.
Marquis II is a 471,573-square-foot, Class A office tower in America’s Capital Partners’ Peachtree Center mixed-use development. The center includes six office towers and 2.4 million square feet of retail space. It is a short walk from the bank’s headquarters at SunTrust Plaza at 303 Peachtree St. NE.
ACP acquired Marquis II from Colonnade Properties LLC for $45 million, or about $95 per square foot in December 2006. Other tenants in the building include Carlock, Copeland, Semler & Stair LLP and Parker, Hudson, Rainer & Dobbs LLP. The property now has less than 4 percent vacancy. The average asking rent per year is about $21 per square foot, according to CoStar Group information.
Frank Mann and Tony Zivalich of Cushman & Wakefield represented SunTrust. Bill Hollett and Mike Werner of ACP and Chris Port and Jeff Keppen of CB Richard Ellis represented the ownership.
The SunTrust lease is ACP’s and Peachtree Center’s second landmark deal in recent months. The Nuclear Regulatory Commission signed a 100,000-square-foot lease at Marquis I in December.