ATLANTA-Parkway Properties Inc. is under contract to purchase an office and retail part of the 50-story tower located at 3344 Peachtree Road in the upscale neighborhood of Buckhead in Atlanta. The REIT has agreed to buy the property for $167.3 million or about $346 per square foot.
The office and retail space at the building is 93% leased. The deal, which is seen as one of the costliest office-building sales in Atlanta, could be a significant event for Buckhead. For the full story, go to Wall Street Journal.
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