Franklin Street Properties is buying a new prime Midtown address in Atlanta. (They wanted to be closer to the Varsity to ensure easy access to chili dogs and large PCs.)
Franklin Street is under contract to buy 999 Peachtree, the 621k SF tower owned by Jamestown Properties, according to documents filed with the SEC. Jamestown has agreed to sell the property for $158M, with a scheduled closing on July 1. (The contract will be out just in time for you to pack it to read at the beach.) The sale is somewhat unexpected, given Jamestown pulled the tower off the market last year. Jamestown officials declined to comment on the pending sale.
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