July 31, 2017
PGIM Real Estate acquired Regions Plaza, a 23-story, Class A office tower in Atlanta, on behalf of institutional investors for $176 million. The asset, located at 1180 W. Peachtree St. NW, was sold by a venture between Atlanta-based Crocker Partners and Siguler Guff & Co.
PGIM’s Alfonso Munk says, “Fueled by favorable demographics and population growth in the renters’ age cohort, we expect that Midtown Atlanta will continue to grow into one of the most dynamic live-work-play environments in the region.”
Built in 2001, Regions Plaza is a 502,846-square-foot, LEED Gold- and Energy Star-certified office tower on roughly 1.8 acres at West Peachtree and 14th streets in Midtown Atlanta.
PGIM Real Estate’s Jim Mehalso handled acquisition on behalf of the investor. Eastdil Secured brought the property to market.
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