May 26, 2017 Comments Off on Transwestern Acquires Another State Farm Tower Views: 547 Georgia, National News, Southeast

Transwestern Acquires Another State Farm Tower

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.

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