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KBS REIT Buys More Atlantic Station Office

KBS REIT has doubled down on Atlantic Station office with 201 17th St. 


KBS REIT III has paid $98.3M, or more than $276/SF, to buy the 355,900 SF tower at Atlantic Station that is home to Worldpay from CBRE Global Investors, according to TREPP's weekly newsletter, Commercial Real Estate Direct. This comes on the heels of its 2014 purchase of 171 17th St, the 21-story tower also in Atlantic Station, for $132.5M from JP Morgan. CBREI put the tower up for sale earlier this year after it inked a lease with Worldpay through 2027, pushing occupancy up from 56% to more than 90%, according to CRED. Other key tenants in the tower include Nelson Mullins Riley & Scarborough, Square Inc and Uber. [CRED]