{"id":1004178714,"date":"2017-05-30T03:13:38","date_gmt":"2017-05-30T11:13:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004178714"},"modified":"2022-12-08T17:57:39","modified_gmt":"2022-12-09T01:57:39","slug":"downtown-atlanta-trophy-asset-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/downtown-atlanta-trophy-asset-changes-hands\/","title":{"rendered":"Downtown Atlanta Trophy Asset Changes Hands"},"content":{"rendered":"<p><em>By Scott Baltic, Contributing Editor<\/em><\/p>\n<div id=\"attachment_1004178724\" style=\"width: 415px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/100-Peachtree.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004178724\" data-attachment-id=\"1004178724\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/downtown-atlanta-trophy-asset-changes-hands\/100-peachtree\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/100-Peachtree.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" 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;1&quot;}\" data-image-title=\"100 Peachtree\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;100 Peachtree&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/100-Peachtree.jpg?w=800\" class=\"wp-image-1004178724 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/100-Peachtree.jpg\" alt=\"100 Peachtree\" width=\"405\" height=\"304\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/100-Peachtree.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/100-Peachtree.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/100-Peachtree.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 405px) 100vw, 405px\" \/><\/a><p id=\"caption-attachment-1004178724\" class=\"wp-caption-text\">100 Peachtree<\/p><\/div>\n<p>Chicago-based Zeller Realty Group has purchased\u00a0downtown Atlanta\u2019s 100 Peachtree. CBRE represented the sellers, Five Mile Capital Partners, of Stamford, Conn., and Equitable Real Estate Partners. The purchase price was not disclosed.<\/p>\n<p>The 33-story, 622,000-square-foot, Class A building was developed by Equitable Life Insurance Co. in 1969 as its Southeast headquarters. Designed by Skidmore, Owings &amp; Merrill, the tower is currently 82 percent leased to tenants that include Accenture, Koch Industries, Georgia\u2019s Own Credit Union, law firm McGuireWoods and software maker CallRail.<\/p>\n<p>An extensive renovation over the past five years reportedly encompassed a complete window replacement with LEED compliance, renovations to the lobby and plaza area, and major mechanical upgrades.\u00a0<\/p>\n<p>Current rents at\u00a0100 Peachtree average $21.6 and the asking rent for available space is $24, according to information provided by Yardi Matrix.<\/p>\n<p>CBRE\u2019s Will Yowell, Jay O\u2019Meara and Justin Parsonnet represented the sellers. Zeller Principal and Director of Acquisitions and Dispositions Bill Rogalla and Principal Mark Vollbrecht represented the buyer.<\/p>\n<p><em>\u201cAtlanta is a <a href=\"https:\/\/www.commercialsearch.com\/news\/hff-secures-43m-refi-for-100-peachtree-in-atlanta-cbd\/\">top investment market<\/a>, with the second-highest percentage of job growth and a low cost of doing business, all reasons why investor interest in 100 Peachtree was strong,\u201d<\/em> Yowell, vice chairman at CBRE, said in a prepared statement. <em>\u201cInvestors recognize the stability and growth opportunity in Atlanta, with the creation of 244,000 jobs and unemployment rate of below 5 percent over the last three years.\u201d<\/em><\/p>\n<p>Downtown Atlanta Class A office space has a total vacancy of 17.2 percent on an inventory of almost 15 million square feet. Vacancy saw a minor decline from 17.8 percent year-over-year, according to a first-quarter report from Colliers International.<\/p>\n<p>The report suggests that the March 30 fire which collapsed a 100-foot, elevated section of Interstate 85 in Atlanta (the damage was repaired as of May 13) highlighted the importance of mass transit in the metro area and <em>\u201cprovides even more fuel to the demand for office submarkets with MARTA rail stations.\u201d<\/em><\/p>\n<p>100 Peachtree is one block from the Peachtree Center MARTA station.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The iconic 100 Peachtree was developed by Equitable Life Insurance Co. in 1969 and designed by Skidmore, Owings &amp; Merrill. The tower is currently 82 percent leased.<\/p>\n","protected":false},"author":882,"featured_media":1004178724,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21808,21742,21747],"tags":[],"class_list":["post-1004178714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-featured","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Downtown Atlanta Trophy Asset Changes Hands - 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\/downtown-atlanta-trophy-asset-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Downtown Atlanta Trophy Asset Changes Hands\" \/>\n<meta property=\"og:description\" content=\"The iconic 100 Peachtree was developed by Equitable Life Insurance Co. in 1969 and designed by Skidmore, Owings &amp; Merrill. 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