Recent deals suggest the commercial real estate market is heating up across Buckhead. Exhibit A: 1776 Peachtree, an iconic midcentury office building in South Buckhead, has been sold to the private real estate firm TPA Group. The sale comes just a year-and-a-half after the building was purchased for about $11 million. Located along Peachtree Street at 26th Street, just north of the Brookwood Split, the 214,000-square-foot complex is a few blocks from the sizzling tech scene of Midtown. BuckheadView reports that with planned renovations, rents are expected to jump — another indication that things are on the up-and-up in the Atlanta office market.
Also sold this week were the Shops at Collier Hills, a 19,000-square-foot shopping center at Collier Road and Defoor Ferry. The dated complex was purchased for more than $2 million and a complete overhaul is expected. After renovations, the new owners are hoping to attract some fancy "chef-driven" restaurants. Given its prime proximity to the booming Westside, its hard to imagine anything on the 1.27-acre tract not going high-end.
· S. Buckhead iconic office building and aging retail center sold [BuckheadView]