No class A buildings were sold. Thirty class B properties that changed hands averaged $91.16 per square foot. First quarter numbers would have been higher had the $155 million sale of the Atlanta Financial Center not just missed the cut-off reporting date.
Last year, the area had more than $1.1 billion in office sales. Wise predicts another billion-dollar year, however, unless sublease space often found in suburban markets makes it impossible for owners to raise rents to make building sales more attractive.
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David Wilkening
David Wilkening began his long journalism career as a police reporter for Chicago-area newspapers. He became a writer-editor for major newspapers in Chicago, Washington, Detroit and Florida. He has been a business editor, political editor and travel editor for newspapers and magazines. He tried for a while to be a political operative but did better as an adjunct college professor teaching English and journalism. He is the author of several books, both ghost-written and under his own name. He is also a widely published freelance writer who currently lives in Orlando.
