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GSU Buys Park Place

WASHINGTON DC 08.16.2017

ALEXANDRIA STATE OF THE MARKET

The Premier Event on Alexandria's CRE Market

Joseph Ney -- Reingold
AJ Jackson -- EYA
Austin Flajser -- Carr Hospitality/Carr City Centers
GSU Buys Park Place

55-park-place-phase-i

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."
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