Town Center at Atlantic Station up for Sale

ATLANTA-AIG Global Real Estate and Jacoby Development, Inc., owners of Atlantic Station, have put the retail portion of Atlantic Station, a 138-acre, mixed-use development, on the block, with Eastdil Secured representing the owners. Town Center at Atlantic Station, with 586,296 square feet of retail, was completed in 2005.

The entire build-out of Atlantic Station is anticipated to have 15 million square feet of residential, office, hospitality, retail and entertainment space. It is located in the heart of Atlanta’s Midtown sub-market where it was built on the site of Atlantic Steel Mill, a formerly environmentally-contaminated property, at I-75 and I-85.

AIG has been selling real estate assets so that it can pay its debt to the federal government, which bailed out the insurance conglomerate at the height of the financial crisis.