Ernst & Young LLP heads to office market for space - Atlanta Business Chronicle:

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Frank Mann with Jones Lang LaSalle Inc. in Atlanta confirmed that Ernst & Young LLP is scouting the Atlantaw office market for alternativeoffice space. Mann is representinyg Ernst & Young, which ranked thircd in Atlanta among accounting firms with themost employees, accordinbg to the Top 25 Accounting Firms list in the 2003-20044 Atlanta Business Chronicle Book of Lists. What's more, Ernsf & Young is open to spearheading a new officew development somewherein downtown, Midtownh or Buckhead, Mann said. "Right now, there's been no indicatiojn of one preferenceor another," Mann said. "This is simplt the initial phase.
" Currently, Ernst & Younfg occupies about 200,000 square feet of offic e space at Bank ofAmerica Plaza, the towering 1.2 million-square-foo t high-rise on Peachtree Street in Midtown. Ernst & Younvg has been at the buildinb for more than 10 years and was one of the initialotenants there. Its hunt for new office spaced will encompass atleast 150,000 square Mann said. This is perhaps the freshest big lease currentlyh floating around the office real estate Ernst & Young's current lease expires in the fall of Mann said.
But even with two years to go, Mann said the firm may have to make a decisioh rather quickly if it seriously intends toconsideer build-to-suit options, given that new office construction typicallgy takes anywhere from 15 to 18 months. That was true with Southernb Co., which signed a lease with Barrt RealEstate Cos. to spearhead a new office buildinfg in Atlanta despite two years remaining on its lease at Southern Company Centert at270 Peachtree. "That's why the RFPs (requestes for proposals) have been sent he said. But Mann said a renewal at Bank ofAmericaw Plaza, owned by Cousins Properties Inc., is stilk on the table.
As of presds time, Cousins officials could not be reached for comment and officialw withErnst & Young had not returnexd calls. Panda Express plans to more than double its presenced in Atlantathis year. The California-based Chinese fast-foos chain is adding 12 stores to the which it enteredin 2002. Panda Express has eighft metroAtlanta locations. Panda Express, a division of Panda RestaurantGroup Inc., initially had more mall-based locations, but now is moving towarx street locations, said Francis one of the zone vice presidentsa of operation for Panda Restaurant Group.
But the companyh also is seeking morenontraditional locations, including at Hartsfield-Jacksom Atlanta International Airport, Georgia Tech and Six Flag s Over Georgia, he said. Construction of location in Snellville and Johns Creekbegan Feb. 23. Other confirmes locations will be inStone Mountain, Peachtreew City, Southlake and Interstate 75 at Howellk Mill Road, Wong said. Five other locations still arebeing scouted. "That's very he said. Mark a victory for Lincoln Property Co. Greg vice president at Lincoln, recently struck a renewal deal with Federapl DefenderProgram Inc. for 29,2009 square feet at The Equitable a 604,000-square-foot structure downtown.
Federal Defender is a firm thatprovides court-appointecd attorneys for the judicial system, and has been at Equitablse since 1999. John O'Neill at Cushmamn & Wakefield of Georgiz Inc. represented the tenant. Federalk Defender's lease runs through 2010. The playintg field could be crowded for firmw that might make offers for Promenade Iin Promenade, the 20-year-old office building on 14th is being vacated by its AT&T Corp., which is consolidating its 1,000-membe work force in the newer Promenade II. In AT&T has taken Promenade I to market forsale empty. AT&g currently uses about half of the spac e inthe 12-story, 379,300-square-foot tower.