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CP Group Acquires CNN Center in Atlanta

Owner, operator and developer CP Group has acquired the CNN Center, a 1.2 million-square-foot mixed-use property in downtown Atlanta. The sales price was not disclosed. The acquisition was completed via a joint venture with funds managed by Miami-based Rialto Capital Management LLC.

CNN Center is located in the center of Atlanta’s Central Business District and is surrounded by a number of landmarks including State Farm Arena, Mercedes-Benz Stadium, Centennial Olympic Park, Georgia World Congress Center, World of Coca-Cola, Georgia Aquarium, College Football Hall of Fame and the Center for Civil & Human Rights. The seller, WarnerMedia, will lease back the CNN Center for a number of years.

AT&T Inc., which owns WarnerMedia, previously announced plans to sell the five-acre complex in 2020. CP Group was formerly known at Crocker Partners.

“The CNN Center is one of Atlanta’s most iconic landmarks and we look forward to embracing the opportunity to strategically transform the asset and build off the city’s current momentum,” said Chris Eachus, partner at CP Group.

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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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