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A Salt Lake City real estate investment firm is dialing in to AT&T's Buckhead campus.
Bridge Investment Group is expected to close on Lenox Park, a five-building office campus that has been home to AT&T for years, the Atlanta Business Chronicle reported. Bridge is expected to pay more than $225M – or $225/SF – for the buildings, according to the ABC.
AT&T has been downsizing its Atlanta office footprint this year. It announced that it was vacating 675 West Peachtree St., the 1.4M SF tower in Midtown owned by billionaire mogul Carl Icahn. The telecommunications giant also has vacated one of the buildings at Lenox Park, and is expected to vacate another in the coming years, Bridge CEO Jeff Shaw told the ABC.
Now, Bridge is eyeing a renovation of the office park that could include walking trails and enhanced connections to the nearby AMLI Residential project at Roxboro and East Paces Ferry roads.
“What makes this opportunity unique is it's such a park-like setting that is so close to everything,” Shaw told the ABC. “It's been thought of so long as an AT&T campus. Now, we have to reintroduce it to the market.”
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