ATLANTA (Aug. 27, 2014) - Signage typically is a key negotiating point of any large office lease, and it's at the center of an interesting legal action in Midtown, where a well-known law firm is objecting to a venerable Atlanta REIT's plans to add signs for a tenant at the Promenade office tower in Midtown.
I'm more interested in why such a signifcant building such as Promenade has no signage. The 691-foot-high landmark office tower is cleary visible in Atlanta's skyline, and more importantly, to the thousands of cars that travel the Downtown Connector each day.
Any large tenant is missing a nice branding opportunity by now having a sign plastered on such a notable building. I know law firms typically shy away from placing their logo or names atop towers because it might be considered gaudy and not align with their image, but that thinking needs to change amid today's hyper-competitive, branding-is-critical business atmosphere.
Even the conservative Georgia-Pacific posted a nice blue "GP" insignia on its namesake tower in downtown Atlanta after years of having no expsoure atop the pink-granite signature office tower.
I think every multitenant tower needs signage, and a "FD" on three sides of Promenade (thanks to ajc.com for the cool photo) would look good (once the attorneys have settled the matter).
Here's a quick recap of the aforementioned legal action:
On Friday, Smith, Gambrell & Russell filed sued against Cousins Properties, claming that Cousins and the ownership of Promenade failed to get the law firm's approval for its plans to erect "FD" near the top of the landmark 691-foot-high office tower at Peachtree and 15th streets, according to a story in today's Daily Report.
Cousins acquired Promenade II in 2001, paying $134.7 million. The REIT sliced off the "II" from the name after Promenade I was renamed for David R. Goode of Norfolk Southern fame, which now is sole tenant at the smaller building, which reaches only 154 feet.