It's a Christmas miracle — Bank of America Plaza could soon be under contract! California-based Shorenstein Properties LLC will be closing on the building in the next few days, according to the Atlanta Business Chroncile. Earlier this year, the half-vacant tower hit the market, seeking an investor who could infuse it with new life. The owners have had a hard time filling up the building, which was foreclosed on during the recession. In hopes of selling it, one of the owners even made a fancy hype video, which entered the Curbediverse last month. Maybe that did the trick.
Earlier this year, the building was appraised for $236.5 million, though it won't be clear until after closing how much Shorenstein shelled out. Nonetheless, the sale should be a shot in the arm for the northern edge of downtown, which has seen some big development news in the last few weeks despite the ongoing Peachtree-Pine debacle. At this rate, it may not be farfetched to imagine a day when Midtown and downtown begin to fully grow together across The Connector.
· Bank of America Plaza buyer emerges [Atlanta Business Chronicle]
· Half-Empty High Rise Has Hilariously Epic Marketing Video [Curbed Atlanta]