JOS CEO Scott Jackson tells GlobeSt.com his firm bought thelocation only to give tenants at the JOS-owned Centennial Towers,101 Marietta St., additional parking space. The block is zoned fora 30-story office building but Jackson says he is not ready to dothat sort of deal right now.

"This is not a land deal," Jackson emphasizes. "It is a500-space, seven-story parking deck that provides extensivein-place parking income and opportunity for us and CentennialTower, a 36-story, class A office building, to provide our existingand future tenants more parking than at any other building inDowntown Atlanta."

Jackson adds, "We are not developing the site and have nointention in the near future." The JOS chief notes that Downtowndirt is "trading at much higher per sf prices [than $137.74 per sffor a $6 million tract] and income-producing parking decks areincreasingly valuable as land disappears for development."