Granite Properties could be making further inroads in Atlantas office market, with its eye on Piedmont Center.
Sources tell us Granite is under contract to buy Piedmont Center 5 through 8, a 500k SF, interconnected office building in the popular Piedmont Center office park. The sources indicate the price could be more than $65M, or the upper end of the $130/SF range.Teachers Retirement System of Illinois put the building on the market last year. Among its larger tenants: law firm Foltz Martin and MAG Mutual Insurance Co. Officials with Granite and CBRE (which is brokering the sale) declined to comment.
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