Regent Puts TD Ameritrade On Block
Regent Partners has put the TD Ameritrade building at 3330 Peachtree up for sale. It could be the next record-making sale and it's practically a little hut in the skyscraper jungle of Buckhead.
Regent tapped the triple-net kings (that was the name of our rap-rock band in college)—Stan Johnson Co's Joey Odem (here), Britton Burdette, Mollie Alteri and KB Yabuku—to handle the transaction. The facility, built in 2012, is 15k SF with the online stock trading company taking half the space. The marketing package is slated to deliver to potential investors starting next week.
Joey tells us the long-term lease with TD Ameritrade—plus its centralized Buckhead location—is likely to make this a hotly vied-for commodity, especially with institutional and foreign capital. “It will probably set some records for single-tenant net-leased [product] on a price per SF,” Joey says. Certainly bank-leased properties are achieving big numbers across the country, and Britton says this could easily go below a 6% cap. “We're seeing similar bank facilities nationwide in lesser real estate markets going sub-5%, and California is going sub-4%.”