Real Estate News

Published on October 25th, 2016 |


4 buildings within Buckhead’s Piedmont Center complex sell for $76.5 million

The Fountains, four buildings within Buckhead’s Piedmont Center, have sold to joint venture the Ardent Companies for about $76.5 million, according to a report by the Atlanta Business Chronicle.

The purchase price is considered to be a bargain within Buckhead, where some buildings have traded for close to $400 a foot, according to the Business Chronicle. Ardent paid about $139 a foot. The seller was American Realty Advisors, a nationwide investment manager headquartered in Glendale, Calif.

Ardent entered a joint venture with Cone Middour Partners, which had identified the 550,000-square-foot Fountains as an opportunity earlier this year, the ABC reported. Ardent and Cone Middour then came together to complete the deal. Cone Middour will spearhead leasing at The Fountains, which is about 70 percent occupied, the ABC reports.

The four-building office complex features a campus-like feel. Its buildings make up a key piece of the overall Piedmont Center office park, which is the largest office project along Piedmont Road in Buckhead.

To read the complete Business Chronicle story, click here.

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