{"id":1004348261,"date":"2019-08-27T04:58:36","date_gmt":"2019-08-27T12:58:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004348261"},"modified":"2019-08-27T07:22:21","modified_gmt":"2019-08-27T15:22:21","slug":"piedmont-snaps-up-last-of-atlanta-tower-collection","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/piedmont-snaps-up-last-of-atlanta-tower-collection\/","title":{"rendered":"Piedmont Wraps Up Atlanta Tower Collection"},"content":{"rendered":"
\"\"<\/a>

The Galleria. Image courtesy of Piedmont Office Realty Trust<\/em><\/p><\/div>\n

Piedmont Office Realty Trust has acquired two office towers comprising a total of 860,000 square feet within The Galleria, a mixed-use development in northwest Atlanta. The seller was the State Teachers Retirement System of Ohio, according to Yardi Matrix data.<\/p>\n

Along with the two office properties\u2014Galleria 400 and Galleria 600\u2014Piedmont also purchased an adjacent 10.2-acre parcel of land, with a potential 1 million square feet of development, for a total of $231.2 million. The new acquisitions add to Piedmont\u2019s existing ownership at the development, bringing the company’s footprint to 2.1 million square feet of office space across five buildings, with a total investment of just under $500 million. The new acquisitions consolidate the ownership of The Galleria portfolio to a single company for the first time.<\/p>\n

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READ ALSO:<\/strong> Piedmont Office Realty Expands in Atlanta With $95M Buy<\/a><\/p>\n

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The REIT made its first purchase of The Galleria office portfolio in 2015. Earlier this year, the firm purchased Galleria 100, a 414,000-square-foot, Class A office tower, for $95 million. Built in 1999, Galleria 400 is a 19-story office property comprising 432,000 square feet. Built in 2001, Galleria 600 is a Class A office building with 432,000 square feet spread across 19 floors.<\/p>\n

The Galleria office complex is located about 12.5 miles northwest of downtown Atlanta and is situated just off the junction of interstates 75 and 285. Located within a mile from the office campus is The Battery, a mixed-use development that includes SunTrust Park, home to the Atlanta Braves baseball team, and the Coca-Cola Roxy Theater.<\/p>\n

Last week, Trammell Crow topped out construction<\/a> at Twelve24, a 335,000-square-foot, Class A office tower in the Dunwoody suburb of Atlanta. The project, which broke ground last year, will house the new headquarters of national staffing company Insight Global.  <\/p>\n","protected":false},"excerpt":{"rendered":"

The REIT\u2019s latest purchase brings a portfolio of trophy office assets under single ownership for the first time.<\/p>\n","protected":false},"author":745,"featured_media":1004348267,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21742,21747],"tags":[34703,40976],"class_list":["post-1004348261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-latest","category-office","tag-piedmont-office-realty-trust","tag-the-galleria"],"acf":[],"yoast_head":"\nPiedmont Wraps Up Atlanta Tower Collection - 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\/piedmont-snaps-up-last-of-atlanta-tower-collection\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Piedmont Wraps Up Atlanta Tower Collection\" \/>\n<meta property=\"og:description\" content=\"The REIT\u2019s latest purchase brings a portfolio of trophy office assets under single ownership for the first time.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/piedmont-snaps-up-last-of-atlanta-tower-collection\/\" \/>\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=\"2019-08-27T12:58:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-27T15:22:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Galleria-towers-e1566883297521.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"606\" \/>\n\t<meta property=\"og:image:height\" content=\"454\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/piedmont-snaps-up-last-of-atlanta-tower-collection\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/piedmont-snaps-up-last-of-atlanta-tower-collection\/\",\"name\":\"Piedmont Wraps Up Atlanta Tower Collection - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/piedmont-snaps-up-last-of-atlanta-tower-collection\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/piedmont-snaps-up-last-of-atlanta-tower-collection\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Galleria-towers-e1566883297521.jpg\",\"datePublished\":\"2019-08-27T12:58:36+00:00\",\"dateModified\":\"2019-08-27T15:22:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/piedmont-snaps-up-last-of-atlanta-tower-collection\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/piedmont-snaps-up-last-of-atlanta-tower-collection\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/piedmont-snaps-up-last-of-atlanta-tower-collection\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Galleria-towers-e1566883297521.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Galleria-towers-e1566883297521.jpg\",\"width\":606,\"height\":454,\"caption\":\"The Galleria. 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