News
PRIME MIDTOWN CORNER BOUGHT
January 6, 2011
| A Florida land investor has picked up a key Midtown corner. This corner, in particular: |
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| Avanti Properties Group, based in Orlando, purchased the southeast corner of 14th and West Peachtree, a 1.5-acre swath of land with a smattering of commercial buildings, including the popular Einstein Bagels just across from One Atlantic Center. It's one of the last key undeveloped corners along Atlanta's own lawyer row—across the street, Alston & Bird renewed and consolidated its offices and King & Spalding is just down the street—and could eventually see upwards of 700K SF of mixed-use development, says Avanti VP Andrew Dubill. Andrew tells us the current economic weakness in Atlanta makes this a good time to acquire good properties: ?We believedemand will ultimately return for these sites.? John Haynes andScott McGregor with Resource Real Estate in Atlanta brokered the deal for the seller State Bank & Trust, which sold it for more than $4.7M. Keep reading Bisnow next week for more news from Avanti. |
