Land for Sale in West Village Could Go for Over $20M

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A German investing firm is saying “auf wiedersehen” to a 3-acre tract it owns in the Buckhead West Village and could pocket as much as $25 million when it sells the property.

Atlanta Business Chronicle says Eight Hundred Corp. is looking to offload the 99 West Paces property, which contains a collection of low-rise commercial buildings across from the St. Regis Atlanta Hotel. The Chronicle reports that developers would likely transform the space into condominiums or another hotel, banking on the West Village’s increased prominence and value.

The Buckhead Village is becoming the darling of Atlanta’s property investment business, and more companies are creating or expanding their presence in the area.

Commercial real estate firm Parkway Properties, Inc. is one of those companies making a bigger play in the Village, announcing their intentions to purchase Two Buckhead Plaza by the end of the summer at the earliest. The company already owns One Buckhead Plaza, and the purchase of its neighbor follows Parkway’s method of owning buildings near each other, Atlanta Business Chronicle says.

Two Buckhead Plaza is a seven-story office tower at 3050 Peachtree Road, steps from Oliver McMillan’s wildly successful Buckhead Atlanta retail development. A recent studyhighlighted the corridor as Atlanta’s economic engine, and with space in the commercial district quickly running out, developers are moving fast to get in on the ground floor in the Village.

The Loudermilk Companies have presented their plans for a 12-story office tower development at 359 East Paces Ferry Road which would include ground floor retail.

Trammell Crow Residential shared its plans to transform the 276,000 sq. ft. of space behind the Barcelona condominiums at Pharr Road and Granville Avenue into a 244-unit apartment complex with a Buckhead development review committee earlier this year.

Terwilliger Pappas has their eyes on plots of land located at 2965-2975 Peachtree Rd., looking to erect, a nearly 20-story residential tower on the site.