Transwestern to Lease Trophy Towers in Atlanta, Miami
The two properties, offering a combined 1.5 million square feet of office space, sold for more than $442 million.
By Veronica Grecu
Atlanta Financial Center
Atlanta and Miami—After closing the deal on two Class A office properties located in Atlanta and Miami, New York-based Sumimoto Corp. of Americas has selected Transwestern to handle leasing operations.
“Sumitomo expertly acquires assets that define the cities where they are located and enhances their value through keen operating principals,” Bruce Ford, Transwestern’s Southeast president, said in prepared remarks. “We will continue this strategy by focusing on people, process, and place and creating a community within each asset to retain and attract the leading businesses to these assets.”
Transwestern will oversee impending renovations and will provide leasing services for the Atlanta Financial Center, a three-building office complex that Sumimoto recently acquired for $222.5 million. Located at 3353 Peachtree Road, NE in Buckhead, the 914,774-square-foot asset marks Sumimoto’s largest acquisition to date. The property is currently 85 percent occupied to a mix of tenants including law firms Morris, Manning & Martin and SunTrust Robinson Humphrey.
Miami Tower
The second office property is Miami Tower, located at 100 SE 2nd St. in downtown Miami. Transwestern’s Managing Director Glenn Gregory will lead the leasing team for the 47-story iconic tower that offers more than 619,000 square feet of office space. Commercial Property Executive reported that Sumimoto purchased the I.M. Pei-designed Miami Tower for $220 million from LaSalle Investment Management. Transwestern currently provides management services for the property, led by Senior Vice President Andrea Lopez.
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