May 26, 2017
Transwestern Investment Group is acquiring Park Center I in Atlanta as part of a sale-leaseback transaction with State Farm Auto Insurance Co. The deal follows Transwestern’s acquisition of the 2.2 million-square-foot, mixed-use project in Richardson, TX occupied by State Farm under long-term leases. Terms of the deal were not disclosed.
The 602,000-square-foot building is the first phase of the three-tower development. Dallas-based KDC commenced construction on a second 670,000-square-foot office tower at the State Farm Georgia campus
Park Center I is a 13-story, LEED-certified office tower situated on a seven-level parking structure with ground-floor retail. The Class A building is located on four acres at Hammond Drive and Perimeter Center Parkway, adjacent to the Dunwoody MARTA station.
State Farm employees began moving into the new building in Q4 2017.
For comments, questions or concerns, please contact Dennis Kaiser