3630 Peachtree Under Contract

3630

In February we reported that Duke Realty was placing its 3630 Peachtree tower on the market. Most speculated that Duke would get a favorable price for the building giving Atlanta’s dramatic rebound from the economic collapse in ’07-’08, but few expected that its eventual sale would break Buckhead records. Heitman has offered a reported $380 per square foot for the asset; if the deal goes through as is, 3630 Peachtree will sell for $34 more per square foot than any other building in Buckhead ever has. Parkway Properties sold 3344 Peachtree for $346 PSF in 2011 and TIAA-CREF bought Pinnacle in 2004 for $343 PSF. The deal could close as early as next month.

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