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Shorenstein Picks Up Atlanta Office Highrise
Shorenstein Investment Advisers acquired 14th & Spring, a 12-story, Class A office tower in Midtown Atlanta. The 324,000-square-foot office tower was sold by Greenstone Properties and equity partner Goldman Sachs.
Commercial Edge reports Greenstone broke ground on the project in 2019, financing its construction with an $84.7 million loan from U.S. Bank. HKS served as the architect.
The office tower has been empty since its completion, in 2022. It features outdoor balcony spaces, collaboration hubs, an expansive lobby, a coffee shop and a fitness center.
Shorenstein’s Claude Esposito added, “We closed without any financing and plan to make a significant follow-on investment in the asset with a capital plan to enhance common areas and further expand the amenity offerings.”
To support its capital improvement plans, Shorenstein has appointed ASD | SKY to reposition the lobby, enhance the exterior, update the building entrance and expand amenity offerings.
CBRE’s leasing team is led by Jeff Keppen, Nicole Goldsmith and Kyle Kenyon.
- ◦Sale/Acquisition
