Search
 

Local Investors Pay $73 per SF for Hard Rock Cafe Building

ATLANTA-The mixed-use, 77,691-sf Cornerstone Building on Peachtree Street that has fallen on hard times and is best known for its downstairs eatery, sells for $5.7 million. The four-story building, previously owned by Buffalo, NY-based HSBC Realty, is 34% occupied.

By Marita Thomas | Updated on July 01, 2002

ATLANTA-Locally based-Plato Industries, an investment group headed by Stacy and Manny Fialkow, has purchased the Cornerstone Building in Downtown Atlanta for $5.7 million, or a little better than $73 per sf.

Known as the home of Atlanta’s Hard Rock Cafe, the four-story, 77,691-sf property is just 34% occupied. It stands at the corner of Peachtree Street and Andrew Young International Blvd. and contains a mix of office and retail space, which included a Woolworth store until the nationwide five-and-dime chain closed its doors in the late 1990s.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.