August 12, 2019 Comments Off on Historic Downtown Atlanta Office Property Trades for $13M Views: 1047 Atlanta, Atlanta News, Top Atlanta

Historic Downtown Atlanta Office Property Trades for $13M

Privately-held real estate investment firm Four Mile Capital (FMC) sold the historic W.D. Grant Building, a 130,000-square-foot office property in Atlanta’s CBD for $13.6 million. The property was 56% occupied at the time of sale.

Located at 44 Broad St. N.W., the 10-story building was constructed in 1898 and is on the National Register of Historic Places. FMC purchased the building out of bankruptcy in 2017 for $7.9 million, and spent roughly $2 million on capital improvements to the property. Improvements included a new roof, elevator and HVAC upgrades, exterior paint, marble polishing and window replacements.

A team from HFF represented FMC in the transaction. The buyer was not disclosed. The deal was completed prior to HFF being acquired by JLL.

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