Concourse Corporate Center Picked Up by Stamford-Based Investor
- Apr 28, 2015
Concourse Corporate Center was recently acquired by Building and Land Technology, the Stamford, Connecticut-based company announced. The property is located at Interstate 285 and Georgia State Route 400 in Atlanta’s Perimeter submarket, in close proximity to several MARTA stations.
BLT is a privately held, vertically integrated real estate private equity, development and property management firm. Founded in 1982, the company has invested in, developed, owned and managed more than five million square feet of commercial space and more than 10,000 residential units. Its holdings include more than 100 active real estate companies, a majority interest in a residential brokerage firm with 28 offices and 1,100 agents, a mortgage and insurance company as well as several private equity investments.
The property is comprised of five office buildings, a recently renovated Westin Hotel, several covered parking facilities along with a parcel of developable land zoned for retail, office and residential uses. The site also includes the 85,000-square-foot Concourse Athletic Club, which, however, was not part of BLT’s acquisition. The office complex is home to two landmark constructions nicknamed the “King and Queen” towers –the two towers totaling 2.2 million square feet were 91 percent occupied at the time of the transaction.
The new ownership plans to invest in further enhancements of the property in order to solidify the office project’s position in the submarket. The upgrades will affect lobbies, public spaces, restrooms, and other common areas, according to a news release.
Regent Partners will continue as the leasing and managing agent on behalf of BLT.
Photo credits: Regent Partners