The 80-year-old, vacant structure, which once housed offices of the Federal Reserve Bank of Atlanta at 120 Marietta St., is being offered on an as-is, all-cash basis, says Kris J. Cooper, a senior director in the Atlanta office of Cushman & Wakefield of Georgia Inc. Margaret K. Caldwell, associate director, is working with Cooper on the deal.
When Turner Properties announced plans for a major office expansion next to the Glenn Building in 2000, the company sought to have Easements Atlanta give up its easement else have it condemned by the city, according the Buildings Worth Saving Committee of the Atlanta Preservation Center.
Such a development would have allowed the building to be demolished and make it easier for entrepreneur Ted Turner to landscape the area and present a more appealing pedestrian plaza area in front of the planned Turner Tower, Turner company officials have often told the city. The Glenn Building has been on the committee's List of Endangered Buildings since 2001.
Turner Properties is an adviser to the Recreation Authority and has been looking after the Glenn Building for several years. The limestone-faced structure was renovated in 1988. The city and Fulton County Recreation Authority bought the building for an undisclosed sum in 1997 from the Federal Reserve Bank of Atlanta and partially renovated the building again in 1998, Cooper says.
Although the building was last used as an office property, the structure could also be converted to apartments or condominiums, the broker says. The adjacent block consists of a 775-space parking garage built to support Philips Arena, home to the Atlanta Thrashers hockey team, the Atlanta Hawks basketball team, concerts and special events.
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