Alston & Bird LLP to Expand, Extend at Hines' One Atlantic Center

Consolidates Atlanta Operations and Resets Lease Term for 18 years

News provided by

Oct 29, 2010, 10:52 ET

ATLANTA, Oct. 29 /PRNewswire/ -- The Atlanta office of Hines, an international real estate firm, and Alston & Bird LLP have reached an agreement to expand the law firm's existing space in Atlanta's landmark One Atlantic Center.

Alston & Bird will move into an additional 110,000 square feet, increasing its total occupancy in the building to 340,000 square feet on 15 floors. The firm will consolidate its 450 attorneys, relocating many from Atlantic Center Plaza, making One Atlantic Center its official Atlanta headquarters. The lease term will be reset for 18 years, commencing in the fourth quarter of 2010.

Alston & Bird was represented in lease negotiations by Andrew Ghertner, Ian Henderson and John Izard of Cushman & Wakefield of Georgia. Hines was self-represented by John Heagy, Mark Ferris and Tori Kerr.

"Hines' agreement with Alston & Bird marks a significant achievement for this landmark tower," Heagy, senior vice president for Hines Southeast, said. "The law firm's consolidation commitment to the property boosts our overall occupancy to 90 percent – an achievement we are all quite proud of in this challenging economic time. Alston & Bird's long term commitment further establishes One Atlantic Center as one of Atlanta's premier business addresses."

"Hines is delighted to be able to continue and expand our partnership with Alston & Bird – both are organizations dedicated to superior customer service, outstanding quality and industry leadership," said Hines Group Property Manager Mark Ferris. "Solidifying Alston & Bird's commitment to One Atlantic Center is very gratifying to Hines and represents another key step in our strategic partnership in the Midtown area for the long term."

Mark Rusche, a partner with Alston & Bird who handles the firm's space needs nationwide, said, "We are very pleased to have reached an agreement with Hines to consolidate our offices in Atlanta at One Atlantic Center. We believe this property is one of the iconic buildings in the nation. It is ideally located in the vibrant Midtown area, with great access to MARTA, the I-75/I-85 Connector, hotels, restaurants, Piedmont Park and the Airport. The quality ownership and management team at Hines was also an important factor for us."

One Atlantic Center was acquired in 2006 by the Hines U.S. Core Office Fund LP. Under Hines' management, the tower received Silver certification through the U.S. Green Building Council's LEED® rating system for Existing Buildings (EB), as well as the ENERGY STAR® label in 2008 and 2009 for the first time in the building's 20-year history.

Hines entered the Atlanta real estate market in 1982 with Ravinia in the Perimeter submarket, where the firm's Southeast regional headquarters is located. Hines' Southeast-area portfolio of owned and managed properties currently exceeds six million square feet.

ABOUT ALSTON & BIRD

With 800 attorneys, Alston & Bird is a leading national AmLaw 100 firm. The firm's core practice areas are intellectual property, complex litigation, corporate and tax, with national industry focuses in health care, energy, financial services and public policy. The firm has built a reputation as one of the country's best employers, appearing on FORTUNE magazine's ranking of the "100 Best Companies to Work For" 11 years in a row, more often than any other law firm in the United States. The firm has offices in Atlanta, Charlotte, Dallas, Los Angeles, New York, Research Triangle, N.C., Silicon Valley, Ventura County and Washington, D.C.

ABOUT HINES

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm's historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,119 properties representing more than 457 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in 100 cities in 17 countries, and controlled assets valued at approximately $23 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualite Environnementale and DGNB green building rating systems. Visit www.hines.com for more information.

SOURCE Hines