Trammell Crow Nabs Northpark Contract

ATLANTA-The class A, 1.5-milion-sf, 20-year-old Northpark Town Center in Atlanta’s Central Perimeter submarket will have a new leasing/management team Jan. 1.

That’s when the local division of Trammell Crow Co. takes over from Carter & Associates-ONCOR in a deal Crow made with property owner Simpson Housing Limited Partnershp (SHLP) of Denver after Crow offered to relocate its 100-person regional office staff to Northpark in early 2003, area brokers tell GlobeSt.com.

Crow is taking about 25,000 sf on a single floor in an estimated 10-year-lease, say the brokers. The average quoted rent at Northpark is in the mid-$20s, Steve Moddelmog of Trammell Crow tells GlobeSt.com.

“Their decision to relocate their Atlanta offices to the project will bring 100 or so Trammell Crow employees, as well as their real estate clients, to Northpark every day,” Don Mabry, SHLP’s senior vice president, says in a prepared statement from Crow.

“We had the job for six years,” Carter senior vice president George McKinney tells GlobeSt.com. He doesn’t feel the changeover was due to Carter’s performance. McKinney says Northpark’s occupancy is about 65%.

Among Northpark’s blue-ribbon roster of tenants are American International Cos., Oracle Corp., Motorola, Merrill Lynch, PaineWebber, Ford Motor Co., Apple Computer, General Electric Capital Corp., Sony Music Entertainment, Morgan Keegan, Pharmacia & Upjohn, Fidelity Investments and Neuberger & Berman.