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City Landmark Gets New Management

ATLANTA-PM Realty seeks new tenants to rename the Equitable Building and raise occupancy.

By Carl Cronan | Updated on September 15, 2008

ATLANTA-The Equitable Building, a familiar landmark on the city’s skyline for nearly 40 years, will soon get a new identity to go with new management and leasing there. PM Realty Group took over those duties last week on behalf of Equastone Real Estate Investment Advisors at the 33-story office tower, also known by its address 100 Peachtree St. NW.

San Diego-based Equastone bought the 615,000-sf class A building for nearly $57 million last year and invested another $4 million in various improvements. It is still in the process of repairing millions of dollars in damage sustained when a tornado struck Downtown Atlanta on March 14, the first such occurrence in more than 120 years.

Houston-based PM Realty will seek to backfill nearly 50% of the building’s vacancy, including a new tenant to rebrand the tower, according to Bill Weghorst, senior vice president and Atlanta region director for PM Realty. The Equitable name has been visible since the building opened in 1969, supplanting another building where Equitable Life & Casualty Insurance Co. was also a longtime tenant. Equitable no longer occupies the current building.

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