Wieland and Woodruff representatives declined to disclose thepurchase price. "I haven't even been told myself," Woodruff publicrelations director Amber Rice tells GlobeSt.com. "I'll know and youwill know when the recorded price becomes public information"shortly.

However, Midtown office brokers familiar with the three smallbuildings on the site totaling 94,000 sf tell GlobeSt.com thestructures were probably sold for about $200 per sf or an estimated$18.8 million. Shelton G. Stanfill, Woodruff's president and CEO,says in a prepared statement the price "exceeded the set threshold,no contingencies to the contract and a quick closing."

Stanfill says John Wieland's "assurance that the Woodruff willbe involved in the execution of the project was definitelyappreciated." Wieland and development partners Jim Overton and JohnMurphy of locally based OvertonMurphy Interests LLC plan todemolish the three buildings at 1285, 1293 and 1307 Peachtree St.and create an arts center-themed community that will offer for-saleresidential condominiums sized from 2,000 sf to 7,000 sf, a15,000-sf art gallery and an undetermined amount of retail.