News
PARKWAY AT 3344 PEACHTREE?
December 14, 2010
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| Parkway Properties may be making more inroads in Atlanta. This time with one of the city's premier trophy towers. Sources tellBisnow Jackson, Miss.-based Parkway is in due diligence to purchase 3344 Peachtree from Regent Partners. Many experts say the 483K SF Buckhead trophy could fetch record pricing for a single asset in Atlanta, given a market that's extremely favorable to core assets. At 95% occupancy, with tenants installed for long-term leases, some expect Regent to achieve pricing similar to Cousins' sale of Pinnacle in 2004, when it traded for $145M, or even better. Officials with Regent Partners and Parkway could not be reached for comment. JLL's Chris Marshall was tapped to market the tower earlier this year. |
