Troutman, Schulte Roth on 2 new Buckhead office towers

Posted on April 27, 2009 12:44 by Andy Peters

A story in last week’s Wall Street Journal was the talk of Atlanta’s commercial real estate community. The article points out that four trophy office towers nearing completion in Buckhead are, to put it lightly, struggling to find tenants.Terminus 200

Three buildings—3630 Peachtree, Two Alliance Center and Phipps Tower—are zero percent leased. Another, Terminus 200 [photo, right], is 9 percent leased.

These highly attractive properties are coming on line at a time when the market is flooded with vacant space. The metro Atlanta office market reported 300,000 square feet of net occupancy losses in 2008, according to a recent report by Jones Lang LaSalle. Developers will deliver another 3.2 million square feet of Class A office space to the Buckhead and Midtown markets over the next 18 months.

Deal Watch blog decided to track down the names of the attorneys who advised the developers and lenders on the four towers named in the Wall Street Journal piece.

We’ve already identified the law firms for two of the office towers in previous blog posts or in the print edition of the Daily Report. Arnall Golden Gregory partner Scott Fisher is counsel to Crescent Resources LLC, co-developer of Phipps Tower. Goulston & Storrs is counsel to the other development partner, Manulife Financial. The lead lender, Regions Bank, is taking advice from Hartman, Simons, Spielman & Wood partner Charlie Brake.

The 3630 Peachtree building, which includes the Ritz-Carlton Residences condo development, involved multiple developers, including Duke Realty, Pope & Land Enterprises, Novare Group and Post Properties. Among the lawyers working on that building are King & Spalding partners Clay Howell and Dan Heller, Atlanta solo practitioner Thomas Burch, Alston & Bird partners Gigi Bugg and Glenn Thomson and Seyfarth Shaw partner Carl Westmoreland.

So, who’s working on the other two?

Troutman Sanders partner Leslie Secrest is counsel to Cousins Properties Inc. on the Terminus 200 building, according to legal documents. Secrest did not return calls and emails seeking comment. Firm spokesman Mark Braykovich declined to comment.

Tishman Speyer Properties, developer of Two Alliance Center, is leaning on Atlanta-based in-house counsel Robert Stubbs and on Schulte Roth & Zabel partner Andrew Dady in New York, according to documents. Neither Stubbs nor Dady could be reached for comment.


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Janet ConleyThe Deal Watch Blog is devoted to bringing you the latest news in business law in Atlanta, the Southeast and the U.S. The lead writer is Daily Report associate editor Janet L. Conley.

Janet L. Conley is an attorney who returned to journalism after practicing law with Akin, Gump, Strauss, Hauer & Feld in Washington and with the Georgia Legal Services Program in Atlanta.

During her tenure at the Daily Report, Janet, now the paper's associate editor, has covered law firm economics and management, business and federal courts. In 2007, she received the Georgia Associated Press Story of the Year award and the Atlanta Press Club’s Journalist of the Year award, both for small circulation newspapers, for "Green to Gold," a series of articles on how climate change will alter business and the law.

Janet has written for The American Lawyer magazine and the National Law Journal, among other publications. She also served as managing editor of GC South magazine.

Janet holds a journalism degree from Southern College and a juris doctor degree from the University of Pennsylvania. She lives in Decatur with her husband Mark Harper, also an attorney, and their three children.

She can be reached at jconley@alm.com.

Andy PetersThe contributing writer is Daily Report staff reporter Andy Peters.

Andy Peters has been a journalist since graduating from Furman University in 1992. A short list of the subjects he’s covered includes the Georgia state Legislature, the U.S. semiconductor industry, the Alabama-Florida-Georgia “water wars” litigation, the 1999 American Airlines pilots strike, Coca-Cola and PepsiCo’s battle to acquire the Gatorade sports-drink brand, indie rock music and high school football. Andy has written for Bloomberg News, the New York Times Web site, the Macon Telegraph, the Spartanburg (S.C.) Herald-Journal and the Atlanta Business Chronicle.

Andy has written the Deal Watch column for the Daily Report since March 2006. He was born in Chattanooga, Tenn. in 1971 and grew up in Ringgold, Ga. He lives in Decatur with his wife and two children.

He can be reached at apeters@alm.com.

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