| We sat down yesterday with Studley's Andy Lechter to talk about the mood of Atlanta office tenants. (Studley's a good litmus test, since the firm is entirely tenant rep.) ?I think we're in caution mode,? Andy tells us. ?Even if a company is growing … they're going to be very conservative in terms of betting on the future.? But tenants still have tremendous leverage over landlords, he says, and are able to work out deals that would have been impossible in years past. For instance, Andy's recent deal with the law firm Baker Donelson (which renewed at Monach Plaza): the firm was able to do it even though its original lease didn't expire until 2013—and it saved money at the same time. And like many other CRE firms, Studley has been busy. ?There is more leasing activity, which means that we are able to help tenants improve their real estate situations.? |
CONSERVATIVE GROWTH
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Andy Lechter, Baker Donelson
