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Tishman Speyer Atlanta Office Tower Trades for Record $268M

Three Alliance Center, a 30-story office tower in Atlanta’s Buckhead submarket, was acquired by the Florida State Board of Administration from New York developer Tishman Speyer for $267.5 million. The trade works out to $532-per-square-foot, the highest-ever price for an Atlanta market office property.

The 506,647-square-foot tower at 3550 Lenox Rd. NE, was completed in 2017. Tishman Speyer’s Three Alliance Center represents the final phase of the 1.5-million-square-foot Alliance Center complex in Buckhead

San Francisco-based Stockbridge Capital’s David Nix advised the State Board. CBRE’s Will Yowell and Justin Parsonnet handled the property sale on behalf of Tishman Speyer. Transwestern will lease and manage the tower for the new owner.

The State Board acted as the investment fiduciary for the Florida Retirement System Trust Fund. It is the Florida pension fund’s first office property acquisition in the market.

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Read more at Atlanta Business ChronicleConnect With Stockbridge’s NixConnect With CBRE’s Yowell

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition