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Atlanta's Hot Real Estate Sale

Posted by: Chris Steins
Thanks to: Peter Slatin
26 July 2006 - 7:00am

An investor from Los Angeles grabs Atlanta's tallest tower for its biggest price.

"In a transaction that bucks the typical deal in which big East Coast money grabs California bricks-and-mortar, an L.A.-based firm is paying a record price for an office trophy in Atlanta. BentleyForbes, a diversified L.A. real estate concern, is paying $456 million, or $348 a square foot, for Bank of America Plaza. The 55-story, 1.25 million square foot building is the tallest office property in the U.S. outside of New York and Chicago.

...Buyer BentleyForbes is emerging as a key buyer of trophy buildings in major markets. This spring the privately held investment manager acquired Prudential Plaza in Chicago for around $470 million."

Full Story: Hot For Atlanta
Source: The Slatin Report, July 21, 2006
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The increased attention to matters of urban design has forced the field to become alert to more aspects of the social and natural sciences, to transportation and civil engineering, water and waste management, zoning and public policy, and other areas earlier considered largely the responsibility of others.
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