{"id":1004158546,"date":"2016-11-08T06:16:00","date_gmt":"2016-11-08T14:16:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004158546"},"modified":"2020-04-29T08:36:00","modified_gmt":"2020-04-29T16:36:00","slug":"atlantas-historic-hurt-building-sold-for-34m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atlantas-historic-hurt-building-sold-for-34m\/","title":{"rendered":"Atlanta&#8217;s Historic Hurt Building Sold for $34M"},"content":{"rendered":"<p>By Evelina Croitoru<\/p>\n<div id=\"attachment_1004158547\" style=\"width: 250px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/6979.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004158547\" data-attachment-id=\"1004158547\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/atlantas-historic-hurt-building-sold-for-34m\/attachment\/6979\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/6979.jpg\" data-orig-size=\"640,800\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"6979\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/6979.jpg?w=640\" class=\"wp-image-1004158547 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/6979.jpg\" alt=\"The Hurt Building\" width=\"240\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/6979.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/6979.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 240px) 100vw, 240px\" \/><\/a><p id=\"caption-attachment-1004158547\" class=\"wp-caption-text\">The Hurt Building<\/p><\/div>\n<p><strong>Atlanta<\/strong>\u2014<a href=\"https:\/\/www.lpcsoutheast.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Lincoln Property Co. Southeast<\/a> has announced the $33.5 million sale of the historic Hurt Building in downtown Atlanta. The property was acquired by <a href=\"https:\/\/gammarealestate.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Gamma Real Estate<\/a> and local partner, Dion Meltzer, from seller <a href=\"https:\/\/www.boxerproperty.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Boxer Properties<\/a>.<\/p>\n<p>\u201cThe Hurt Building is one of the nation\u2019s earliest skyscrapers, and at the time it was built in 1913, it was one of the largest office buildings in the world. Though recently it has most notably served as a filming location for movies and television shows, it remains an integral part of Atlanta\u2019s architectural history,\u201d Chip Sipple, senior analyst with Lincoln, said in prepared remarks.<\/p>\n<p>Located at 50 Hurt Plaza, SE., the 18-story, V-shaped building is a mixture of classic architecture and modern amenities, with floor plates that range in size between 12,000 and 30,000 square feet. The property offers 341,072 square feet of usable office space and includes 10,000 square feet of retail, with 4,000 square feet in the multi-level parking structure, according to <a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Yardi Matrix<\/a>. Situated in downtown Atlanta, the property offers convenient access to public transportation, Interstates 75, 85 and 20, the government district, Georgia State University and cultural and entertainment destinations. The Hurt Building is LEED Gold-certified.<\/p>\n<p>As reported by the\u00a0<em><a href=\"https:\/\/www.bizjournals.com\/atlanta\/news\/2016\/11\/03\/downtowns-historic-hurt-building-sells-for-almost.html\" target=\"_blank\" rel=\"nofollow noopener\">Atlanta Business Chronicle<\/a>, <\/em>the building will undergo a $4 million facelift that will include the makeover of the exposed interior marble covered with carpet back in the 1980s. \u201cThe Hurt Building is one of Atlanta\u2019s iconic buildings and remains a landmark downtown. Right now, the building is 71 percent leased. Dion and his partners are going to implement a strategic renovation to push rates and lease up the remaining vacancy in the continued market recovery and momentum that is happening Downtown,\u201d added Sipple.<\/p>\n<p>Sipple, alongside Kyle Stonis and Pierce Mayson of <a href=\"https:\/\/srsre.com\/\" target=\"_blank\" rel=\"nofollow noopener\">SRS Real Estate Partners<\/a>, co-represented the buyer in the transaction. The seller sold the asset in an off-market transaction arranged by Lincoln and SRS. According to Yardi Matrix data, the sale was subject to a $25.5 million loan due in 2018 held by Ladder Capital. The property was previously acquired by Boxer Property for $17.5 million back in 2012.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gamma Real Estate teamed up with local partner Dion Meltzer to acquire the property and intents to implement a $4 million revamping.<\/p>\n","protected":false},"author":1055,"featured_media":1004158547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21742,21747],"tags":[],"class_list":["post-1004158546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Atlanta&#039;s Historic Hurt Building Sold for $34M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/atlantas-historic-hurt-building-sold-for-34m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlanta&#039;s Historic Hurt Building Sold for $34M\" \/>\n<meta property=\"og:description\" content=\"Gamma Real Estate teamed up with local partner Dion Meltzer to acquire the property and intents to implement a $4 million revamping.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/atlantas-historic-hurt-building-sold-for-34m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-08T14:16:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-29T16:36:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/6979.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelina Croitoru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlantas-historic-hurt-building-sold-for-34m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlantas-historic-hurt-building-sold-for-34m\\\/\"},\"author\":{\"name\":\"Evelina Croitoru\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e9e65abbef696b705a028580e04c8c99\"},\"headline\":\"Atlanta&#8217;s Historic Hurt Building Sold for $34M\",\"datePublished\":\"2016-11-08T14:16:00+00:00\",\"dateModified\":\"2020-04-29T16:36:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlantas-historic-hurt-building-sold-for-34m\\\/\"},\"wordCount\":363,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlantas-historic-hurt-building-sold-for-34m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/11\\\/6979.jpg\",\"articleSection\":[\"Atlanta\",\"Deals\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlantas-historic-hurt-building-sold-for-34m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlantas-historic-hurt-building-sold-for-34m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlantas-historic-hurt-building-sold-for-34m\\\/\",\"name\":\"Atlanta's Historic Hurt Building Sold for $34M - 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