BellSouth Sells Estimated $57M Stake in Two Office Assets

ATLANTA-BellSouth officials and area office brokers confirm to GlobeSt.com that BellSouth has sold its equity interests in the 12-year-old, 28-story 1100 Peachtree Street Tower Downtown and in the six-building Chastain Center office park in suburban Kennesaw to USAA of San Antonio, TX. BellSouth is keeping its offices at both locations.

BellSouth representatives wouldn’t disclose the value of the deals; however, area brokers familiar with both the Downtown office sector and the suburban markets tell GlobeSt.com the Peachtree Tower transaction is valued at about $30 million and the Chastain property at about $27 million.

Databank, a locally based real estate research house, estimates the Peachtree deal at $35 million and the Chastain sale at $28.5 million, according to a published report.