Lease Plan USA Leases Big

4 February 2000

Lease Plan USA Leases Big

    ATLANTA--Feb. 4, 2000--Lease Plan USA has signed a 10-year lease for 70,000 square feet of first generation space in the Oakview I office building at Alpharetta's Sanctuary Park.
    The 6-story 150,000-square-foot building located at 1165 Santuary Parkway is currently under construction and is expected to deliver in April.
    Lease Plan, a wholly owned subsidiary of ABN AMRO Lease Holding, is a global fleet leasing provider located in 25 countries.
    This facility will house its U.S. headquarters and 250 employees. Mark Conroy at Lease Plan identified the look and feel of Sanctuary Park, its central location with proximity to North Point Mall and good housing for both executives and employees, the perceived growth of the corporate base, and the availability of a larger workforce as essential in choosing the site. 65% of the company's current workforce lives within a 10-mile radius.
    According to Ridr Knowlton at Jones Lang LaSalle Inc, representing the owner in the transaction, "There were clear advantages to the choice of Sanctuary Park and Oakview I for Lease Plan. Aside from the sheer beauty and expansion potential offered by the 150-acre campus there is a full service corporate conference center, a cafe, a health club, walking trails, the lake, and of course the entire range of Alpharetta's amenities are nearby."
    Russ Jobson and Bob Ward at Colliers Cauble & Co. represented the new tenant. Russ commented on the basics of the deal, "The numbers kept Sanctuary Park in the running, the wooded site and image of the park was good for the corporate image, and the expansion potential over the life of the lease for the corporate headquarters was important."
    Sanctuary Park is a 150-acre office park owned by the JP Morgan Strategic Property Fund and managed by Jones Lang LaSalle.