Guy Millners Insurance Company grows

2008/05/01

AssuranceAmerica Corp. is looking for up to 60,000 square feet in the North West and Central area submarkets, said Guy Millner, Assurance America Insurance chairman.

 

AssuranceAmerica, is a property and casualty insurance to the high-risk private automobile market primarily in the Southeast, is headquartered in about 35,000 square feet in the RiverEdge office complex.

 

AssuranceAmerica's lease in RiverEdge One expires in early 2009. The company wants to decide where to locate its headquarters by the middle of this year, Millner said. It could renew and expand in RiverEdge.

 

It may also seek naming rights on a building as part of a new deal, Millner said.

 

AssuranceAmerica currently houses nearly 160 people at its headquarters, but could double that total over the next five years, Millner said.

 

The company's (OTC BB: ASAM) revenues grew 9 percent during 2007.

 

One of Cousins Properties Inc.'s newest retail centers had progress with leasing in 2007.

 

The Avenue Webb Gin improved from 71 percent leased at the beginning of the year to 81 percent leased at year end, according to the Atlanta-based developer's annual report.

 

For the 357,000-square-foot Avenue Webb Gin, that represents about 37,500 square feet of new retailers, said Matt Gove, a spokesman for Cousins (NYSE: CUZ).