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Lowe Enterprises Pays $193 per SF for Trophy Buckhead Asset

ATLANTA-The Los Angeles firm enters one of the area's most vibrant office markets with the $50-million purchase of two-year-old Tower Place 200, a 13-story, 250,000-sf, 98%-leased building within the 1.1 million-sf Tower Place complex.

By Judith Schonbak | Updated on December 26, 2000

ATLANTA-Lowe Enterprises Investment Management Inc. of Los Angeles is entering the local office arena big-time. The firm paid locally-based Regent Partners and Jamestown $50 million or $193 per sf for the 13-story, 250,000-sf, 98%-leased Tower Place 200 in Buckhead, one of Atlanta’s most vibrant and affluent submarkets off Downtown.

The two-year-old structure is located within the 1.1 million-sf Tower Place complex. The sellers will use the proceeds to fund new development at Tower Place, including an office tower of undetermined size. Among the tenants at Tower Place 200 are Siebel Systems, Xcelerate and Littler Mendelson. Jamestown is an Atlanta firm backed by German investors.

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