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TIAA-CREF Closes Sale of 2.1 Million-SF Office Campus

JV Snags Class A Portfolio in Atlanta's Central Perimeter
By Finerve Holder
October 22, 2012 | 2:33 P.M.

Concourse Corporate Center, an approximately 2.1 million-square-foot Class A office development on 63 acres, home to the King and Queen Buildings, is now under the new ownership of Regent Partners LLC, GEM Realty Capital, Inc., Equity Group Investments LLC, and Farallon Capital Management LLC. The sale consists of five properties in the Central Perimeter submarket that were constructed between 1984 and 1991. TIAA-CREF sold the office portfolio, which was 82% occupied, for approximately $300 million or about $145 per square foot. The properties are situated in the Concourse Office Business Park as followed: *1 Concourse Pky NE (approx. 287,929 SF; 8 stories) *2 Concourse Pky NE (approx. 288,816 SF; 8 stories) *4 Concourse Pky NE (approx. 142,147 SF; 4 stories) *5 Concourse Pky NE (approx. 687,107 SF; 32 stories) -Queen Building *6 Concourse Pky NE (697,400 SF; 33 stories)-King Building

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