A firm that recently picked up a prominent Midtown student housing tower has also bought a suburban office building from United Parcel Service.
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Kennedy Wilson purchased 35 Glenlake Parkway, a 133K SF office building, from the Fortune 500 logistics company for nearly $16.5M, according to tax records filed in the Georgia Superior Court Clerks' Cooperative Authority database.
The sale took place on Monday.
The five-story building is half a mile from UPS’ world headquarters in Sandy Springs. UPS owned the building as well as the 7 surrounding acres, assessed in 2025 by Fulton County at $12.2M.
This past summer, UPS moved 500 employees from 35 Glenlake to its headquarters and an office building in Alpharetta as part of what one company spokesman characterized as “the largest network reconfiguration in UPS history,” The Atlanta Journal-Constitution reported.
It wasn’t immediately clear what Kennedy Wilson’s plans are for the property. Kennedy Wilson and UPS didn’t respond to messages prior to publication.
UPS’ network reconfiguration, if executed as announced earlier this year, will result in a workforce reduction of some 20,000 employees in 2025, Supply Chain Dive reported. The company also announced in 2024 that it planned to close some 200 leased and owned buildings by the end of 2028 as part of its drive to automate some package services.
In September, UPS agreed to sell more than 1M SF of office and industrial properties across the U.S. for $368M to Fortress Investment Group, including the 310K SF 12380 Morris Road office building in Alpharetta.
Earlier this month, Kennedy Wilson purchased Kinetic Midtown, a 239-unit, 752-bed student housing tower at 1025 Spring St., for $132M from its developer, Toll Brothers. The purchase was part of Kennedy Wilson’s agreed-upon $380M acquisition of Toll Brothers’ multifamily platform, a transaction that is slated to close in the first quarter.
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