Shaneel Lalani, the new owner of Underground Atlanta, has acquired One Park Tower, a 300,000-square-foot office building in Downtown Atlanta. The sales price was $12.8 million.
Located at 34 Peachtree Street, the office property is two blocks from Underground Atlanta. The acquisition aligns with Lalani’s strategy of buying high potential real estate properties as well as his commitment to investing in South Downtown. One Park Tower is currently 33% occupied. Lalani is exploring a variety of value-add strategies and hiring an in-house broker to oversee leasing at the property.
Lalani purchased the tower from One Park Tower Holdings, LLC for $12.75 million without any outside financing. Lalani is the CEO of Billionaires Funding Group, an Atlanta-based company with a real estate portfolio that spans over two million square feet of commercial space.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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