Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Locally based investment firm Day Capital Partners LLC has acquired a 10-story, 116,000-sf office building at 1447 Peachtree St. from ITW Mortgage Investments IV on behalf of a private partnership.

The sales price of the property was not released due to a confidentiality agreement with the seller. Robert Day and Joe Wilen represented Day Capital Partners and Gary Lee and Andrew Murphy, of Carter, represented the seller. “1447 Peachtree is a class B building in a class A location,” Day tells GlobeSt.com. “We intend to do some work and retenant the building at higher rates and create value.”

Day Capital plans to spend $5 million to reposition the asset. Work that will be done includes installation of a new mechanical system, window replacement and other cosmetic changes. Work is expected to begin by the end of the year, Day says. The company has hired Lincoln Property Co. to assist in the renovation and repositioning of the building. Lincoln will also handle the leasing and management of the building. The building is currently 45% leased, with tenants including the Museum of Contemporary Art and numerous small professional firms. The Lincoln Property Co. team of Leigh O’Reilly and Hunter Henritze will have responsibility for leasing the remaining 65,000 sf.

The building is located near the intersection of Peachtree and West Peachtree streets in the city’s Midtown section. It is in close proximity to Ansley Park and to the retail and hotel amenities of Atlantic Station via direct access to the 17th Street Bridge. “1447 Peachtree represents a great opportunity to take a physically sold building, well located on Peachtree Street in Atlanta’s most dynamic market and create tremendous value,” says Day.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.