Vacant Eight Years, Landmark Building Up For Sale

ATLANTA-The 76-year-old, 12-story, 90,000-sf Medical Arts Building, vacant for eight years, is up for sale at an asking price of $5 million or about $56 per sf, City Realty Advisors broker Tim Holdroyd tells GlobeSt.com.

“It’s a very odd situation where the owner has held this property for the last 32 years and has now decided the time is right to sell,” Holdroyd says. He thinks the property could be used as an apartment, condominium complex or a hotel.

Miami owner Harold Gelber has listed the property exclusively with City Realty. The building has two parking garages and 266 surface parking spaces. Located on Peachtree Street near Ralph McGill Avenue, the property is 500 yards from the planned $200 million Georgia Aquarium attraction.