Breaking: Prudential Division Picks Up Mini Me
UPDATE, July 27, 5 P.M., ET: The story was updated to reflect the purchase price PGIM paid for Regions Plaza.
Regions Plaza, the 23-story tower affectionately known as Mini Me, has a new owner.
PGIM Real Estate — a division of Prudential Financial — purchased the 503K SF Midtown Tower for $176M, or nearly $350/SF, according to Commercial Real Estate Direct.
The sale comes about three months after Florida-based Crocker Partners placed the tower at 1180 West Peachtree St. on the market with Eastdil Secured. The tower, 95% occupied, is anchored by Regions Financial Corp.
Crocker, in a JV with Siguler Gluff & Co., purchased the famed Mini Me, nicknamed as a reference to the Austin Powers movies because of its aesthetic similarity to nearby One Atlantic Center, in 2013. According to Fulton County property records, Regions Plaza is valued at $53.45M.
