September 18, 2019
Colliers International’s Atlanta office has arranged the $17.7 million sale of 100 Edgewood, the former United Way Building in downtown Atlanta.
Parkway Property Investments acquired the Opportunity Zone property and plans to invest approximately $45 million into extensive renovations on the 18-story, 306,000-square-foot building. The tower was built in 1962. Parkway also secured $25 million through online commercial real estate investment marketplace CrowdStreet for the redevelopment. The firm will use the proceeds of the crowdfunding to acquire and redevelop the property.
United Way’s employees have moved to offices above the Loudermilk Conference Center on Courtland Street. Drew Levine and Vice President Pete Shelton of Colliers assisted United Way in relocating its former tenants to suitable office space.
“Colliers has been with United Way every step of this process. Their expertise, willingness to change as the market demands changed, and ability to analyze the financial aspects of the transaction were invaluable and have resulted in a positive outcome for United Way and the community,” said United Way of Greater Atlanta’s CFO Kristen McCollum.
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