News
TWO ALLIANCE UP FOR SALE!
March 22, 2012
| Remember, you heard it here first: Another Buckhead trophy tower is hitting the market, and it could come near record-setting pricing. (It'll be our little secret that you are allowed to tell everyone.) | ||
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| We just learned Tishman Speyer is preparing to list the 500k SF Two Alliance Center for sale early next month with Eastdil Secured. (We swear it won't be listed on April Fool's Day... that's a Sunday this year.) Tishman Speyer officials are expecting to fetch prices from core asset investors in the mid-$300/SF range, sources tell us. To put that in perspective, Parkway Properties purchased 3344 Peachtree last year for a record $346/SF. Two Alliance is 90% leased, with Marsh & McLennan as its marquee tenant. | ||
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| For Tishman, strong potential pricing with Two Alliance is juxtaposed with the outlook on its other main Atlanta assets, including Colony Square (above), Midtown Plaza, and One Alliance Center, all of which are with special servicers as Tishman Speyer attempts to restructure the debt. Two Alliance also is the latest prominent Buckhead tower to go up for sale. Most recently, Cushman & Wakefield began marketing Prominence in Buckhead as well. | ||
