Barry Real Estate Cos. is receiving up to $2 million for its planned 14-story, 349,560-sf Allen Plaza class A office building four blocks from Centennial Olympic Park. Integral Real Estate Group is getting up to $4 million for a mixed-use project near the Martin Luther King Center. And InVision Group is receiving up to $3.2 million for a retail-condo venture, also near the King Center.
The Barry project, one of three planned buildings the developer envisions at its Allen Plaza, is west of the Downtown Connector and just south of the Georgia Tech campus. Barry already has signed Ernst & Young to an estimated 15-year, 137,000-sf lease at what will be the 55 Allen Plaza building. Groundbreaking is set for March. Ernst & Young will be moving from the Bank of America Tower, as GlobeSt.com previously reported.
At a total 1.2 million sf, Allen Plaza will be metro's second largest office site next to the to the 55-story, 1.3-million-sf, 1,023-foot tall Bank of America Tower. At Allen Plaza, Barry is completing a 14-story, 260,000-sf office building. The developer's third planned building will be 34 stories and have 600,000 sf of gross leasing area plus an undetermined amount of showroom-type space. Also on the drawing board is a 250-room hotel with 10,000-sf of ground-floor retail.
The Integral Real Estate Group project will consist of a six-story, 161-unit apartment building with 27,000 sf of retail. InVision Group plans a six-story condo building on John Wesley Dobbs Avenue with 7,000 sf of retail and 147 condo units.
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