ATLANTA-Parkway Properties Inc. has signed a contract to acquire Tower Place 200 for a price of $56 million, which translates into $216 per square foot. The deal is slated for completion by the end of Q4 2012 and Parkway will be the sole owner of the 13-story building. Tower Place 200 now has 81% occupancy rate and generates $26.4 average gross rent.
According to Parkway, nearly 5.9% cash net operating income yield is expected to be generated by Tower Place 200 next year. For the full story, go to Atlanta Business Chronicle .
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