Real Estate
Two Buckhead Office Towers Sold for Hundreds of Millions of Dollars
Buckhead regulars will be quite familiar with one of the towers which recently changed hands.
An Atlanta real estate firm has purchased a pair of Buckhead office towers from a New York teachers’ pension fund which had owned the properties for over a decade.
According to BuckheadView, the Brookdale Group LLC has bought The Pinnacle and Two Live Oak from TIAA-CREF for a whopping $201 million. The Pinnacle, with its sail-shaped roof, is a prominent Buckhead landmark and is adjacent to Two Live Oak.
BuckheadView reports that The Pinnacle is over 90 percent occupied, while Brookdale now has an opportunity to attract an anchor tenant to Two Live Oak.
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News of the sale of the two office towers broke in October, when BuckheadView reported that TIAA-CREF was looking to unload the properties. In 2004, TIAA-CREF bought The Pinnacle for $145 million.
The Pinnacle is located at 3445 Peachtree Road, near the intersection with Lenox Road.
Find out what's happening in Buckheadfor free with the latest updates from Patch.
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