People looking for some commercial real estate in the Atlanta metro area can have the iconic King and Queen buildings in Sandy Springs for a mere $350 million, the Atlanta Business Chronicle reports.
The Business Chronicle reported Wednesday, April 18, that building owner TIAA-CREF, a financial services firm, is looking for a buyer for the Concourse Corporate Center, a mixed use development constructed in the late 1980s and early 1990s and home to the city’s monarch landmarks. Observers told the Business Chronicle that TIAA-CREF could sell the Concourse Corporate Center for $350 million to $400 million.
A spokeswoman for TIAA-CREF declined to comment about whether the company plans to sell the buildings.
“We are long-term investors and actively manage our diversified portfolio,” she said.
The company invests in real estate and owns other properties in the area, including The Pinnacle and Two Live Oak buildings in Buckhead.
The Atlanta Journal Constitution reports it is the most high-profile piece commercial real estate to hit the market in recent years.
Will Yowell, vice chairman of CBRE Investment Properties in Atlanta, confirmed to the Sandy Springs Reporter he is representing TIAA-CREF but could not offer more details, citing confidentiality agreements.
Read the full Business Chronicle article here.