Affiliates of Atlanta-based Wells Real Estate Investment Trust had previously managed the three-building, class A complex at Mount Vernon Highway and Barfield Road. But management duties changed when Lexington Corporate Properties Trust of New York bought the ISS building that was in a portfolio of 27 buildings Lexington acquired in April from Wells. Lexington paid Wells $786 million for a total 5.1 million sf of office and industrial space that Wells had previously purchased or developed between 1999 and 2003, as GlobeSt.com previously reported.
ISS, a software company, occupies the entire complex which is also Lexington's largest asset in metro Atlanta, says Bill Weghorst, senior vice president and director of PM's Atlanta Region. The first phase of the ISS complex, completed in 2001, comprises Building 1 and Building 2, each containing 119,300 sf in five stories. Building 3, a four-story, 50,400-sf structure, was finished in 2003.
In Atlanta, PM also manages One Atlanta Center, the 1.1-million-sf Philip Johnson-designed 50-story tower at 14th and West Peachtree streets.
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