Office

The private equity firm will occupy 127,744 square feet in the SL Green building that is now 54% leased ahead of its scheduled opening next year.

The 1.48-million-square-foot portfolio is located in 11 states and is approximately 94% leased to the federal government and 99% leased overall.

Piedmont Office's president C. Brent Smith says the REIT is pleased it sold the 334,000-square foot building because it reduces its exposure to the Southwest DC submarket.

The site is currently planned for the development of approximately 560,000 square feet of office space and is located along the pedestrian bridge to MARTA's Buckhead station adjacent to a number of dining, retail, high-rise residential and hotels properties.

The 146,979-square-foot property was 65.7% leased at closing.

The new American mobility is often driven by cost-of-living issues and life cycles. So where are the best returns for investors and developers capital?

The property is currently 76% occupied. Bridge Investment Group, which acquired more than 6 million square feet of space in the US in 2018, says it plans to undertake a $5-million capital improvement program at the campus.

Hollinden was previously a transaction manager in Colliers' Corporate Solutions Group, responsible for delivering integrated portfolio transaction management, project management and advisory services to clients nationwide.