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Buildings Going to Market Despite Credit Crunch

ATLANTA-Tishman Speyer puts Colony Square up for sale, capturing the attention of local investment brokers.

By Carl Cronan | Updated on April 25, 2008

(Carl Cronan is editor of Real EstateFlorida.)

ATLANTA-Lending constraints apparently aren’t discouraging owners of large-scale office buildings from going to market with their properties, according to local investment brokers. Furthermore, sales are on par with the last five years’ average, as opposed to being down significantly from last year’s boom.

The latest office property put up for bid is the two-building, 700,000-sf Colony Square complex in Midtown Atlanta, owned by Tishman Speyer Properties LP. The property, which is being marketed by Eastdil Secured LLC, opened in 1972 and recently underwent $5 million worth of renovations, according to the Tishman Speyer’s Web site.

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