Hogan hasn't priced the asset but area brokers following the class A markets tell GlobeSt.com on condition of anonymity Hogan is looking for a $200 per-sf ($87 million) offer. "If he doesn't get it, he will probably pull the building off the market," an area broker tells GlobeSt.com.

A strong selling lever is the building's anchor, Cingular Wireless, occupying 315,000 sf on an estimated lease of at least 10 years, brokers tell GlobeSt.com. That estimated annual cash revenue stream of $7.2 million (estimated $23 per sf) "is a factor most institutional investors won't ignore," a GlobeSt.com source says.

Glenridge Highlands Two is part of Glenridge Highlands, a 13-acre office park planned for three towers. Glenridge Highlands Two was completed in 2000 at an estimated hard construction cost of $65 million.

Glenridge Highlands One, a 12-story, 330,000-sf structure was built in 1998 at an estimated hard construction cost of $50 million. The building sold last year for $63.7 million or $193 per sf. Glenridge Highlands Three is still on the drawing boards. Cushman & Wakefield's Atlanta office is marketing Glenridge Highlands Two.

Competing for clients in the office building race is CB Richard Ellis Inc. which is marketing the 18-story, three-tower, 407,000-sf office structure for Siemens Real Estate Inc.

The owner is looking for at least $184 per sf ($75 million), brokers familiar with the Cumberland Mall office submarket tell GlobeSt.com on condition of anonymity. Steven J. Kaufman, director, corporate real estate at Siemens, wouldn't comment to GlobeSt.com on the sale or the asking price.

In April, Hines Interests Inc. of Houston and General Motors Asset Management Inc. paid $154 million or $171 per sf for the three-tower, 900,000-sf Atlanta Financial Center.