Columbia Property completes $290m sale
Columbia Property Trust has completed the sale of a five-building, 1.1 million-square-foot, class A office campus in Atlanta for $290 million, or $269 per square foot. The new owner of the AT&T Lenox Park Campus was not disclosed in the press release.
The unencumbered property is located at 1025, 1055, 1057, and 1277 Lenox Park Boulevard and 2180 Lake Boulevard in the Lenox Park office complex in Atlanta’s Buckhead submarket. It is fully leased to AT&T Services, which has a lease expiring May 2018. According to Real Capital Analytics, the previous owner of the asset is Wells REIT II, which paid $275.3 million to buy the complex from AT&T in 2008.
Property sales volume in the Atlanta office sector skyrocketed during third quarter 2014, which saw a total investment of $1.063 billion, according