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 of space scattered throughout Piedmont Center Buildings 9 to 12. That is the equivalent of roughly eight floors of space. It will be looking for at least that much office space and possibly more in Buckhead or Central Perimeter.
The company’s lease at Piedmont Center expires at the end of 2011, and after two decades in Piedmont Center, Kaiser feels it is time to consider a move. This is a good time to test the waters because of the soft office market. Large tenants with good credit are able to negotiate big concessions in such a market.
Kaiser could have good leverage in Buckhead, with four new office towers in various stages of construction. Those are 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.
Word is that Kaiser also will give the Central Perimeter market a hard look, including Barry Real Estate’s 400 Perimeter Center Terrace and 66 Perimeter Center. Both have the space available for the managed care organization.
Kaiser could decide to renew in Piedmont Center and expand, if necessary, to other buildings within the office complex.
— John Schaffner