Kaiser Permanente is looking for a new location for its offices — both in Buckhead, where the managed care organization is now, and in the central Perimeter market, possibly in Sandy Springs or near Perimeter Mall.
Kaiser Permanente has about 200,000 square feet in Piedmont Center Buildings 9 to 12. It will be looking for at least that much office space as it tests the market.
The company’s lease at Piedmont Center expires at the end of 2011, and after two decades there, Kaiser feels it is time to consider a move. In this soft office market, large tenants with good credit can win big concessions.
Kaiser could have good leverage in Buckhead, with four new office towers under construction: Duke Realty and Pope & Land Enterprises’ 3630 Peachtree; Tishman Speyer’s Two Alliance Center; Cousins Properties’ Terminus 200; and Crescent Resources’ Phipps Tower. With about 1.9 million square feet of office buildings going up in Buckhead, few if any new leases have been signed.
Central Perimeter possibilities include Barry Real Estate’s 400 Perimeter Center Terrace and 66 Perimeter Center.
— John Schaffner