Service Firm Leased Office Building — Long Term

February 10, 2011 / Elizabeth Buckley, Commercial Property Analyst

The global professional services firm headquartered in London, PwC US, which focuses tax, advisory services, audit, and assurance signed a long-term leasing contract for an office building in Midtown Atlanta. The company signed a 16-year contract on the 140,000 square feet office building owned Daniel Corporation. Office tenants in the recent commercial real estate market are getting good deals that help drive the demand for Class A office space.

Service Firm Leased Office Building — Long Term

According to CoStar Group’s senior real estate strategist, Chris Macke, Class A office space are getting the “lion’s share” for the increasing demand in the commercial real estate market is mostly driven by office tenants.

The office building, leased recently by PwC US is located at 1075 Peachtree, which is part of a multi-use development — 12th & Midtown, a part of the foundation of Atlanta’s Midtown Mile.

About 1,100 employees, professionals and partners, according to a press release, are going to move into the 12th & Midtown’s 725,000-square foot high-end facility in the middle of 1212.

According to Gary Price, Market Managing Partner at PwC, the company’s leasing contract for the office building is said to be inline with its goals of attracting the global market, while delivering value and building business relationships.

Price also said that the office building offers both high-end amenities and impressive architectural, plus an accessible location for the company.

The 12th & Midtown was completed in 2010 that joins retail, fashion, living, and business into one location.

PwC joins with Seyfarth Shaw LLP and The Boston Consulting Group Inc as major tenants in the office building.

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