Hines, CalPERS dump skyscraper

A joint venture between Hines and CalPERS negotiated the sale of a 41-story, 669,711-square-foot office tower in Atlanta's Midtown submarket.

The value of the transaction was not disclosed.

The partnership, NOP 1180 Peachtree LLC, sold the property, located at 1180 Peachtree, to an affiliate of the General Electric Pension Trust.

At the time of sale, the property was 88 percent leased to companies that included: King & Spalding; Rabobank; Russell Reynolds Associates; Allsteel; Coal Marketing; and One Georgia Bank. H. Stockton Clothier, an established local haberdasher, and two upscale restaurants from renowned restaurateur Bob Amick, will anchor the retail at the base of the building.

Hines developed the project at an undisclosed date.

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