GSU Buys Park Place
Here's a good example of cause and effect. Georgia State University buys 55 Park Place for $33.5M. So Koch Enterprises inks a deal to move out of 55 Park Place and to 100 Peachtree with 90k SF. GSU just announced that it purchased the 77% occupied, 555k SFDowntown Atlanta tower from special servicer C-III Asset Management for below the value of the original loan. Cushman & Wakefield's David Meline and team brokered the sale, and says the tower attracted a bunch of attention from investors, indicating increased "appetite for value-add deals in Atlanta."