The Deal is Done

55_Park_Place_Atlanta_GA

We reported a few weeks ago that several major players were interested in purchasing the former Georgia-Pacific building, 55 Park Place. This week is was announced that among the front runners, Georgia State emerged victorious. Not only does this give the University 500,000 SF of additional (and much needed) office space, but solidifies its position as a major real estate player in the Midtown & Downtown submarkets. The President of the University pushed hard for the building’s purchase, as he believes placing students and faculty in the heart of the city and exposing them to the city’s business and government activity is the best way to set them up for continued success. About 12 tenants will remain in the tower through the remainder of their lease.

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