Perimeter Summit completes more than 500,000 sf in deals

February 26 – March 4, 2010

Atlanta Business Chronicle
By Doug Sams

Seven Oaks Company LLC has signed office tenants to 550,000 square feet of new leases during the past several months at Perimeter Summit, a high-profile office and retail development near Perimeter Mall.

The deals bring occupancy to 100 percent at 3003 Perimeter Summit, 90 percent at 2002 Perimeter Summit and 75 percent at 1001 Perimeter Summit.

AutoTrader.com Inc. made the biggest splash at Perimeter Summit last October. when the online classified powerhouse consolidated several office into 3003 Perimeter Summit.

In addition, Seven Oaks pulled off another 235,000-square-feet of deals at the 83-acre Perimeter Summit, which is owned by an affiliate of the General Electric Pension Trust.

The Pension Trust is advised by GE Asset Management.

Seven Oak’s Randy Holmes and McKittrick Simmons, and CB Richard Ellis Inc.’s Eric Ross and Brad Jancik completed the Perimeter Summit transactions.

CB Richard Ellis took over the leasing assignment at Perimeter Summit last year, while Bob Voyles, who founded Seven Oaks, led development.

Major deals in recent months included Cox Communications Inc., which committed to lease almost 197,000 square feet at 1001 and 2002 Perimeter Summit.

The transactions included renewals, an extension of nearly 68,000 square feet and a 75,000-square foot data center.

CB Richard Ellis’ Shlesinger represented Cox in the transactions.

Other Perimeter Summit deals included:

  • Hughes Telematics Inc., which relocated from 41 Perimeter Center East and expanded its headquarters to 50,000 square feet. Doug Legg of William Leonard & Co. represented Hughes Telematics.
  • Regus Pic, which leased about 23,000 square feet at 2002 Perimeter Summit. Regus, the largest provider of workplace solutions, was represented by Ryan Hudson of CB Richard Ellis.
  • LMC Properties Inc., represented by Malcolm Marshall, Andy Ghertner and Carla Williams of Cushman & Wakefield of Georgia Inc.
  • Business Computer Applications Inc., represented by Ed Easterlin of The Wesley Co.
  • EPI-USE America Inc., a software company, represented by Abba Waller of PartnersAmerica Inc.
  • Fifth Street Management, property manager for all office tenants at Perimeter Summit, relocated its operations to 2002 Perimeter Summit.