Like corporations large and small, and scores of private property owners, global communications giant AT&T has cashed in on real estate with close proximity to the Atlanta Beltline’s Eastside Trail.
AT&T reps tell Curbed Atlanta they closed on a deal to sell a shuttered work center property at 195 Chester Avenue in Reynoldstown in late December.
Operations at the site had previously been moved to nearby AT&T work centers, company officials said.
AT&T reps didn’t disclose the sales price but named the buyer as Thrive Realty. A LoopNet listing from May pegged the property for sale at 1.9 acres, with a warehouse from 1995 on site.
We have yet to confirm, but logic says the buyer would be Thrive Residential, a longtime Atlanta homebuilder and active developer of nearby townhomes in the heart of Reynoldstown, along the Beltline in Old Fourth Ward, and in East Atlanta Village.
A phone message left with Thrive today has not been returned.
AT&T’s sale follows in the footsteps of Georgia Power offloading its Old Fourth Ward marshaling yard—called the largest undeveloped tract of land on the Eastside Trail—to developer New City in 2017.
That deal netted the power company $34 million.
As another example, news broke on these pages last month that another company with a strong Reynoldstown presence, Stein Steel and Supply, is selling 6.8 acres along the Beltline a few blocks from the AT&T site. The asking price hasn’t been specified.
This section of the Beltline—the final leg of the popular Eastside Trail—was completed and opened to the public last summer.