Vacant Downtown Glenn Building Sold

ATLANTA-Seeing a Downtown development niche near the planned Georgia Aquarium and the World of Coca-Cola Museum, locally based Legacy Property Group beat out a field of bidders for the vacant, 80-year-old, 10-story Glenn Building at 120 Marietta St., according to the Atlanta-Fulton County Recreation Authority.

Legacy paid $2.8 million, or $49.91 per sf, for the 56,100-sf property which will be renamed and converted to a 120-room hotel. Legacy also developed the nearby Embassy Suites Hotel. The Authority bought the building in 1997 from the Federal Reserve.

Kris J. Cooper, a senior director in the local office of Cushman & Wakefield of Georgia Inc., and associate director Margaret K. Caldwell handled the transaction.