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Insignia Revamping Discounted Atlanta-Area Office Property
Insignia plans to spend over $10 million to revamp a large office complex in Vinings that was formerly Home Depot’s headquarters. The property at 2727 Paces Ferry has approximately 640,000 square feet of office space. It has two 18-story towers.
The Atlanta Business Chronicle reports that Insignia paid just $21.75 million for the property, having purchased it from a group that had fallen behind on its mortgage payments. The price for the massive office complex comes out to $34 a square foot.
The renovation will add a coffee bar and café, tenant lounge and library, conference facilities, coworking areas, restaurant space and indoor-outdoor gathering areas.
Newmark’s Craig Kalinowski and Brad Kirchner are the exclusive office leasing agents for the project.
Insignia has several other redevelopments underway across metro Atlanta. Dunwoody City Council recently approved a plan to redevelop a local office property into more than 100 townhomes on property owned by an Insignia affiliate.
- ◦Development
