Business News

Published on July 17th, 2015 |


Parkway Properties to buy Two Buckhead Plaza in Village area

Parkway Properties has contracted to buy Two Buckhead Plaza, a seven-story office building that was part of the first mixed-use development project in the Village area of Buckhead. The deal is expected to close by the end of this summer, according to the Atlanta Business Chronicle.

Parkway has invested heavily in Buckhead over the past few years. It now owns the 50-story 3344 Peachtree, the 17-story Capital City Plaza, and the 13-story Tower Place 200, according to the ABC. All of those towers are on Peachtree Road around the Buckhead MARTA rail station.

In the Village, Parkway will be carrying out a similar strategy of clustering its property holdings after having bought One Buckhead Plaza last year, at the intersection of Peachtree and West Paces Ferry roads, for $157 million, the ABC reported.

Buying the adjacent Two Buckhead Plaza would give Parkway more leverage to keep pushing office rents in the Village, the ABC said, while wondering what the pending acquisition of Two Buckhead Plaza means for anchor tenant Raymond James & Associates.

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