Less than two years after selling for more than $300 million, Concourse Corporate Center and its landmark “King and Queen” towers may be heading back on the market, according to a report in the Atlanta Business Chronicle. The deal that could fetch one of the highest prices ever paid for a metro Atlanta office project.
Regent Partners LLC and its investment partners, including GEM Realty Capital Inc., would list the more than 2 million-square-foot property late this year or in early 2015, according to multiple sources with knowledge of the strategy. Concourse Corporate Center is one of the most recognized mixed-use projects in metro Atlanta because of its two towers that resemble two giant chess pieces rising over the Georgia 400/Interstate 285 interchange.
It could generate offers in the range of $480 million to $500 million, according to commercial real estate executives with knowledge of the plans.