Why Lease When We Can Buy?

Hammond-Exchange

After leasing a large amount of space in Hammond Exchange in the second quarter of 2012, State Farm is looking at the building again – but this time to buy it. State Farm, which has absorbed more than 1 million SF of space in Atlanta in the last year alone, is in talks to purchase the 10-story office building and the adjacent 13 acres of undeveloped land. This is reigniting rumors and speculation that State Farm is planning to develop a campus in the coming years. Hammond Exchange is currently owned by GE Capital; the building was placed on the market earlier this year.

The deal isn’t done yet. There is still speculation that State Farm is interested in the vacant land across from Hammond Exchange. The 30 acre parcel is currently owned by GID, who planned on turning the land into a mixed-use project.

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