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Tower Swap

A group of investors snapped up a 30-story downtown Atlanta tower near Woodruff Park this month for a relative song. Fairlead Commercial Real Estate LLC and The Creations Group bought 34 Peachtree, which is only 60 percent leased, for $11.8 million, far less than half of what the tower's previous owners paid in 2005. (And far less than the asking price of this home and this home in Buckhead.) Could be another positive development for downtown's office space. [Atlanta Business Chronicle]