News
Flatiron For Sale
January 10, 2011
| A historic Atlanta office landmark is for sale. | |
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| The Flatiron Building, the 41K SF pie-slice shaped office building at 84 Peachtree St, has been listed by its owner, James Cummingand Historic Urban Equities, which has held it since 1978. Long-time downtown realtor Tim Holdroyd with City Realty has been tapped to list the 11-story building. ?We believe that the Flatiron Building will sell to a single user who is 30K SF or greater,? Tim tells us. ?It's a stunning building, and it could be the brand of a company.? It's being listed for ?under $4 million.? With SBA financing, Tim says a user could own the building for an equivalent of under $15/SF gross rent. | |
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| We spent time with Tim and his partner Laura King at their West Atlanta office, discussing the changes he's seen in the market over his more than 30-year career. Tim says prices today on land in the CBD are getting to the point to where ?they make practical sense fornew development.? So . . . what's the next development? Tim thinks we'll see a "new residential high-rise development in Midtown as early as 2011.? This is driven by a lack of rental units in the submarket coupled with the continued trend of young professionals wanting to live in town: ?And I think Midtown and Midtown West are going to be the big beneficiaries because the density created during the last decade has given critical mass to these markets.? |
