The Florida company bought the 13-year-old, 95%-leased buildingat 5660 New Northside Dr. in Atlanta's Northwest Central Perimetersubmarket. First Data Corp., Allstate Insurance Co. and SuntoryWater Group are the major tenants.

St. Joe paid the New York Central Pension fund, directed byClarion Realty Co., an estimated $35 million or about $127.27 persf, a price that is at or just below existing replacement costs,area brokers familiar with the transaction tell GlobeSt.com.

"The price was in the mid-30s," St. Joe Commercial presidentFrank W. Herring Jr. confirms to GlobeSt.com. "This acquisitionwill serve as a platform for our company's position in the Atlantamarket."

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