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Highwoods, Brand Properties JV to Develop $79M Office in Buckhead
Highwoods Properties, Inc., and Brand Properties, LLC have formed a joint venture to construct 2827 Peachtree, a 135,000-square-foot, multi-customer office building in Atlanta’s Buckhead. Highwoods owns a 50% interest in the joint venture.
The property, which is 62% pre-leased to multiple customers, has an anticipated total investment of $79 million.
Construction of 2827 Peachtree is projected to begin in the first quarter of 2022 with a scheduled completion date in the third quarter of 2023, and a pro forma stabilization date in the first quarter of 2025.
With the addition of 2827 Peachtree, Raleigh, NC-based Highwoods’ development pipeline has grown to $283 million comprising of 615,000 square feet that is 49% pre-leased. The company is a fully integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the BBDs of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
- ◦Sale/Acquisition
