Just as Tishman Speyer breaks ground on Three Alliance Center, the developer is already in talks with a firm that could become an anchor to its 30-story Buckhead tower. Sources tell us Tishman Speyer is in talks with Raymond James for up to 100k SF, although Raymond James is still early in the search process. The financial services firm hit the market with an RFP this past summer with DTZ's Chris White (here moderating our Central Perimeter event earlier this year), and is looking to consolidate its Two Buckhead and Monarch Plaza offices into a single location.
Chris could not be reached for comment. And certainly Tishman isn't the only developer with plans for a new tower (seen here)--it's the first to come out of the ground on this cycle. Regent Partners also is pushing plans for a two-tower development (one 550k SF office, one multifamily) on a site behind One Capital City Plaza, although no word if Raymond James is considering that development. The company also is scouting a market with fewer and fewer options. Even with 2.4M SF of Class-A space vacant in Buckhead, much of the prime first gen space built just before the Great Recession has mostly filled, leaving fewer trophy options on the table for Raymond James.
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