Columbia Property Trust Sells Atlanta Mixed-Use Asset for $187M
The firm has now disposed of all Atlanta-area assets, aligning with its US gateway market strategy.
ATLANTA – Columbia Property Trust Inc. has completed the sale of mixed-use property, Lindbergh Center in Atlanta, GA, in a $187 million transaction.
The 1.1 million-square-foot Lindbergh Center complex primarily consists of two 14-story, twin office buildings, which Columbia Property Trust acquired in 2008. The buildings are currently fully-leased to AT&T, through December 31, 2020.
The disposition aligns with the firm’s strategy to solely focus on acquiring office assets within US gateway markets. The firm’s 97% leased portfolio is consistent with its gateway market strategy; comprising 48% New York assets, 27% San Francisco assets and 15% Washington DC assets.
Columbia Property Trust Inc. is an owner, operator and developer of class-A office buildings. The firm handles transactions, asset management, repositioning, leasing and property management, while controlling a 17-property portfolio, totaling more than seven million rentable square feet.