One of the most visible attributes of the northern Atlanta skyline has new owners, the Atlanta Journal Constitution reports. The Concourse Corporate Center at the junction of GA 400 and I-285 nicknamed King and Queen Towers, due to their distinctive rooftops, have been sold for $300 million to Regent Partners.
The purchase includes other buildings on the property and development rights for an additional 1.7 million square feet of space.
The property, which was built in phases between 1984 and 1991, is currently at 83% occupancy and Regent Partners is planning upgrades to improve the property to "maximize intrinsic value..." industry jargon for increasing lease rates and increasing occupancy.
· Atlanta's royal office towers have new owners [AJC]