The seller was Hogan Group, the Tampa, FL firm that developed the 414,000-sf Glenridge Highlands project at the Glenridge Connector in 2000 for an estimated $62 million ($150 per sf), construction industry estimators familiar with the project tell GlobeSt.com on condition of anonymity.
Cingular Wireless occupies about 310,500 sf or about three-fourths of the building on an estimated 20 year, $12.4 million lease for about $20 per sf, according to area brokers.
The estimated annual gross rent roll in the building is $8 million. The sale ranked as metro Atlanta's third largest in 2001, based on purchase and per-sf price, according to published reports.
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