On and Off the Market

999 peachtree

The tower at 999 Peachtree has had its share of ups and downs over the past few years. After being bought by Jamestown in 2007 and repositioned at 95% leased, it was placed back on the market. But last year, the slow economy and sluggish recovery forced Jamestown to remove the property from the market, delaying any potential sales in the pipeline. The improving economy gave Jamestown the confidence to list it again – and it games Franklin Street Properties the confidence to scoop it up. Franklin Street, which purchased One Ravinia last year for $52.8 million, spent $157.9 million on this downtown trophy tower.

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