Ownership is planning an additional $6 million in common area improvements to the main lobby, tenant elevator landings and corridors, elevator cabs, retail concourse and building signage. Atlanta Plaza will also benefit from nearly 1,000 new urban, upscale residential units, an ALOFT hotel and a six-acre park connecting it to Buckhead's PATH 400.

“The property is one that would draw almost any investor, as it is unmatched in the Southeast,” Chris Port of CBRE tells GlobeSt.com. “The combination of newly renovated space, energy, momentum and modern day attractive amenities such as green space are the ingredients that attract talent to a work environment that serves as more than a desk, but as an experience.”

A CBRE's Port, Goldsmith and Katherine Lynch have been retained to lease the space. CBRE's Will Yowell, Justin Parsonnet, Jay O'Meara, and Ryan Reethof represented the seller in the transaction. Jeff Ackemann, Jonathan Rice, and Porter McDonald of CBRE's Debt & Structured Finance team, sourced acquisition financing on behalf of Banyan Street and Oaktree to fully capitalize the acquisition. Banyan Street Capital will manage the property.

ATLANTA— Atlanta Plaza just traded hands in a joint venture deal. Banyan Street Capital and funds managed by Oaktree Capital Management acquired the class A office tower located within the Southeast's strongest and most desirable submarket of Buckhead.

”We have a rare opportunity to revitalize a landmark office tower and we couldn't be more thrilled,” says Zac Gruber, managing director of Banyan Street Capital. “We intend to invest thoughtfully in renovations to the property targeting the central common areas and amenities in order to elevate the experience of working at Atlanta Plaza.”

The 631,808-square-foot office tower recently underwent $7.5 million of upgrades and renovations. The capital improvements led to nearly 200,000 square feet of leasing activity over the past two years. Salesforce.com, Rubicon Global, and the corporate headquarters for RentPath are among the major tenants.

“Buckhead continues to draw big-name tenants and remains the most exclusive office market in metro Atlanta,” Nicole Goldsmith of CBRE tells GlobeSt.com. “The area has attracted many creative firms and provides a steady stream of tech talent to flock to creative and collaborative space like Atlanta Plaza has to offer. Additionally, Atlanta Plaza offers the accessibility that the existing creative and tech ecosystem craves, as it is sits directly on the MARTA line and interstate system, provides direct access to the Lenox Mall and offers walkable and bikable access to a diverse range of restaurants and other area amenities.”

Ownership is planning an additional $6 million in common area improvements to the main lobby, tenant elevator landings and corridors, elevator cabs, retail concourse and building signage. Atlanta Plaza will also benefit from nearly 1,000 new urban, upscale residential units, an ALOFT hotel and a six-acre park connecting it to Buckhead's PATH 400.

“The property is one that would draw almost any investor, as it is unmatched in the Southeast,” Chris Port of CBRE tells GlobeSt.com. “The combination of newly renovated space, energy, momentum and modern day attractive amenities such as green space are the ingredients that attract talent to a work environment that serves as more than a desk, but as an experience.”

A CBRE's Port, Goldsmith and Katherine Lynch have been retained to lease the space. CBRE's Will Yowell, Justin Parsonnet, Jay O'Meara, and Ryan Reethof represented the seller in the transaction. Jeff Ackemann, Jonathan Rice, and Porter McDonald of CBRE's Debt & Structured Finance team, sourced acquisition financing on behalf of Banyan Street and Oaktree to fully capitalize the acquisition. Banyan Street Capital will manage the property.