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GSU Among Potential Buyers For Downtown Tower?

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The sellers of a 19-story downtown office building have chosen a handful of buyers — including Georgia State University — from at least a dozen bidders vying for rights to buy the property. The Atlanta Business Chronicle reports the tower at 55 Park Place (right around the corner from Woodruff Park, between Auburn Avenue and Williams Street) drew great interest and that sources said a decision on a frontrunner could come soon. While Georgia State apparently wouldn't chime in on whether or not it was looking to move into the building previously known as Georgia-Pacific Plaza, it's a move that would seem to make a lot of sense for the ATL's downtown commuter campus.

As the newspaper notes, the university snagged up the neighboring SunTrust building in 2007, and said recently it had finished fundraising for a $82.5 million College of Law building — planned to be located off Peachtree Street south of 55 Park Place.

Without doing any heavy research, one would assume the ever-growing student body (now at more than 30,000) could use as much real estate as possible to stretch its collective legs. No potential asking price has been floated, but 55 Park Place "went back to the lender for $42 million" in 2011, the Chronicle reported.

— By Curbed Atlanta contributor Tyler Estep

· GSU eyeing downtown's 55 Park Place tower [Atlanta Business Chronicle]
[Photo: Atlanta Downtown Improvement District]

Georgia State University

33 Gilmer Street SW, Atlanta, GA 30303 404 413 2000 Visit Website