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Atlanta & Southeast  + Office  |  July 30, 2019
David Cohen
By: David Cohen

Atlantic Station Office Tower Trades for $177M

Singapore real estate investment trust Prime US REIT has acquired the 171 17th St. tower in Atlantic Station for $177 million. The 21-story, 510,000-square-foot tower was the first of several built in the 138-acre Atlantic Station development.

The seller, KBS Real Estate Investment Trust III, acquired the property for $133 million in 2014. The sale comes at a time when Atlantic Station owner Hines is in the midst of a major overhaul at the development. KBS announced the sale on July 19, along with the sale of 11 properties for a total of $1.2 billion.

Atlanta’s Midtown submarket leads all office districts in the city with 616,000 square feet of absorption, according to data from JLL.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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