ATLANTA—KBS Real Estate Investment Trust III just spent $132.5 million (plus closing costs) to buy a trophy asset in Atlanta. KBS grabbed 171 17th Street, a 21-story office building from JP Morgan.
“171 17th Street is a trophy quality asset that KBS REIT III is pleased to add to its portfolio,” says KBS eastern regional president Marc DeLuca. “With its high-end finishes, trophy-quality construction and expansive lobby, 171 17th Street stands out in this highly walkable urban marketplace.”
171 17th Street spans 509,237 square feet and made history as the world's first LEED Silver Core & Shell certified high-rise building. The office tower is 89% occupied.
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