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CP Group has acquired the 55-story, Class A Bank of America Plaza skyscraper in Midtown Atlanta

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.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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