ATLANTA-Highwoods Properties, headquartered in Raleigh, NC, has paid approximately $140 million for the 22-story One Alliance Center office building in Buckhead.
Highwoods, in the end, will shell out a total investment of about $143.4 million, including the purchase price and tenant improvements, according to the Atlanta Business Chronicle. With the deal, Highwoods now owns both the One Alliance and Two Alliance office towers, which it purchased last September.
The company now owns 1.045 million contiguous square feet of Class A office space in the heart of the Buckhead. On a combined basis, Highwoods' total investment in One and Two Alliance Center, including planned building improvements, is $278 per square foot, a 15% discount to estimated replacement cost, company officials report.
One Alliance Center, which is 67% occupied, was owned by ORIX Capital Markets. See story in the Atlanta Business Chronicle.
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