ATLANTA — The Atlanta Financial Center set in the “heart of Buckhead” is up for sale.
Banyan Street Capital, the building owner and one of the largest private office owners in the southeast, announced the South Tower at AFC is hitting the market as an owner-occupier headquarters.
Newmark Group, a commercial real estate company, will handle the sale of the 300,000 square foot tower.
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“Originally designed and built as a headquarters, 3333 Peachtree successfully served that role for decades,” Zac Gruber, Principal and President of the Office Division at Banyan Street Capital, said in a statement. “We acquired AFC with a clear, long-term strategy for the entire complex, and presenting 3333 to a headquarters user is the highest and best use of that specific building at this point in the cycle.”
Gruber said the company would have more announcements in the weeks ahead about initiatives underway at AFC.
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For Justin Parsonnet, Vice Chairman at Newmark, the chance to sell the tower was a big opportunity.
“A full tower in Buckhead, with the identity, security and infrastructure of 3333 Peachtree, is positioned for a user that intends to plant a flag for the long term,” Parsonnet said. “The owner of this building will have a front-row seat to a broader transformation of Atlanta Financial Center, and a level of scale and visibility the market simply cannot create on demand.”
Whoever, or whichever company, buys the tower will own 300,000 square feet of rentable space and a dedicated, private vehicle entrance with private access to the building.
Representatives from Banyan Street Capital said a big strategic value for the building is how many annual impressions it has for top-of-building signage.
Banyan Street officials said the tower is in one of the most heavily traveled areas in the southeast, with more than 51 million people reported as seeing the signage each year.
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