34 Peachtree has a New Owner
“We are strong believers in the resurgence of Downtown and saw the note acquisition as an excellent opportunity to expand the ownership’s position in Downtown Atlanta, as well to strategically invest in areas of growth,” says John Ward, Chief Investment Officer of Fairlead. “Investors are witnessing Central Atlanta Progress’s revitalization efforts come to fruition after years of effort. The investment community is also encouraged by the significant influx of energy provided by the ongoing growth of Georgia State University, which leases space at 34 Peachtree as well as the recently purchased 55 Park Place, as other key properties along Woodruff Park.”
Located at 34 Peachtree Street in the heart of Downtown Atlanta, the office building offers tenants access to restaurants, shops, parks, attractions, and a nearby MARTA rail station (Five Points). The building is 66% percent leased.
The Atlanta Streetcar project—a joint effort by Central Atlanta Progress, the City of Atlanta and other organizations—plans to open its first streetcar route in early 2014, a 2.7-mile loop that will pass near 34 Peachtree. In the nearby Centennial Olympic Park district, new attractions including the College Football Hall of Fame and the National Center for Civil & Human Rights will soon open beside the popular Georgia Aquarium and World of Coca-Cola.