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PARKWAY'S BIG BUY

Atlanta

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PARKWAY'S BIG BUY
It's official. Parkway Properties is  set to buy  Tower Place 200. (They're registered at Crate & Barrel if you want to get them a housewarming gift.)
 
TOWER PLACE 200 PArkway properties cwcapital asset management parking deck transwestern
Confirming a story we reported last week, Parkway reported late yesterday that it was on track to purchase the  260k SF tower from CWCapital Asset Management  for $56Mor $216/SF. Parkway?s purchase also includes a parking deck connected to 3344 Peachtree, which Parkway, of course, snagged last year in one of the biggest office sales in Atlanta's history. The purchase also ends the saga of Tower Place 200, which was yanked back by its lender after Transwestern Investment Co defaulted on its  $50M loan in 2010. The tower is 81% leased  and Parkway officials say they will acquire it by year's end with no financing  needed (something we wish we could do with our holiday gift purchases).