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CP Group Acquires 55-Story Bank of America Plaza in Midtown Atlanta
CP Group has acquired the Bank of America Plaza in Midtown Atlanta. The 55-story Class A skyscraper was acquired in a joint-venture with funds managed by HPS Investment Partners, LLC.
A CBRE team of Will Yowell, Jay O’Meara, Justin Parsonnet and Ryan Reethof represented the seller, San Francisco-based Shorenstein, in the transaction.
Bank of America comprises more than 1.35 million square feet of space. The 1992-constructed property is currently occupied by anchor tenants including Bank of America and national law firm Troutman Pepper and has a mix traditional and tech-focused tenants.
CP Group plans to launch a $50 million capital improvements program that will include a complete overhaul of the lobby, development of an on-site high-end restaurant and 100,000 square feet of customizable prebuilt office suites, as part of CP Group’s in-house flexible workspace program, worCPlaces.
Current amenities at Bank of America Plaza include a 10,000-square-foot conference center space with breakout rooms, fitness center, food hall, on-site bank branch and salon.
CP Group acquired CNN Center in July 2021.
- ◦Sale/Acquisition
