Atlanta Financial Center, Atlanta, GA

December 22, 2016 Comments Off on Sumitomo Pays $222M for First Atlanta Asset Views: 294 Georgia, National News, Southeast, Top National Stories

Sumitomo Pays $222M for First Atlanta Asset

Sumitomo Corp. of Americas (SOCA) closed on the acquisition of Atlanta Financial Center. The New York City-based buyer paid $222.5 million for the three-building, 914,774-square-foot office center, the largest property by size SOCA has acquired to date. Hines and General Motors Investment Corp. were the sellers. Kennedy Hicks, Joe Gibson and Michael McDonald with Eastdill Secured brokered the transaction

The 85%-occupied office complex at 3333-3353 Peachtree Rd. is home to Suntrust Bank, Morris, Manning and Martin and Prime Capital, among other tenants. SOCA will renovate the asset by making it more energy efficient.

SOCA has been involved with real estate investments and developments in the Atlanta metro in the past. The AFC buy is the company’s first commercial office building buy in the Peach City.

Read More at PR Newswire

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