News
MAKE IT TWO FOR DEW?
June 7, 2011
| Georgia State University's gain may also be Dewberry Capital's gain. Or something like that. | |||
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| Dewberry Capital is in talks with SunTrust to locate some 75k SF at the Campanile Building, sources tell Bisnow. And that may include SunTrust's name across the Midtown building. This could be the second win for John Dewberry, who has Morris Manning & Martin leaving its more than 20-year home at Atlanta Financial Center for his building (that he bought for $35M last year). SunTrust's Mark McCoy says the bank will be leaving its current offices at 25 Park Place next year, a 26-story office building that SunTrust sold to Georgia State University in 2006 for $52M. GSU leased it back to SunTrust for six years at that time. Mark tells us that SunTrust will be relocated to an unspecified existing building in Atlanta and that the bank is in the market seeking 80k SF. GSU's Andrea Jones says as of now, SunTrust must be out of 25 Park by as soon as May 2012, but it could work out a deal to stay another year: ?We're negotiating right now.? | |||
