KKR Affiliate Buys Microsoft-Occupied Atlanta Office
The 523,511-square foot office is located within Atlantic Station.
Global Atlantic Financial Group has acquired Atlantic Yards, a Class A trophy office asset consisting of two towers in Midtown Atlanta. Global Atlantic, a subsidiary of KKR, acquired the property from Hines and its institutional joint venture partner advised by Invesco Real Estate.
The property, built in 2021, consists of 523,511 square feet of office space located within Atlantic Station, a 12.5 million square foot master planned sustainable mixed-use development in Atlanta’s Midtown submarket. The state-of-the-art property is designed for LEED Gold certification and was purpose built for high-tech occupancy while embracing the industrial heritage of the Atlantic Station site, once the home of the Atlantic Steel Mill and railyards. The property has highly efficient building systems and features extensive outdoor areas, fitness facilities, bike storage and 861 parking spaces. Atlantic Yards, located within a highly commuter friendly area, is within walking distance of Midtown’s most popular dine-shop-work destinations.
Atlantic Yards is 100% leased to Microsoft Corp. through 2035 and serves as a cornerstone of the company’s growing presence in the broader Atlanta metropolitan area. Microsoft has made significant investments in Atlantic Yards and expects to house approximately 1,500 to 2,000 employees at the (AI) and cloud services, including space for engaging directly with customers.
The purchase was executed through Global Atlantic’s affiliated insurance companies, and Eastdil Secured served as broker on the transaction.