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Teachers Buys Hogan's Glenridge Highlands Two for $174 per SF

ATLANTA-The Tampa, FL merchant builder constructed the 20-story, 414,000-sf structure in 2000 for an estimated $62 million ($150 per sf) and sold the property for $72 million. The sale closed Dec. 31 and ranks among the highest per-sf prices of the year.

By Mark Clothier | Updated on January 02, 2002

ATLANTA-Cingular Wireless’s 20-story headquarters building, Glenridge Highlands Two, has been sold for $72 million or $173.91 per sf to Teachers Insurance and Annuity Association, a New York-based pension fund.

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.

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