Behringer Harvard REIT I Inc. announced today its acquisition of two interconnected office towers known as Paces West, in Atlanta, Ga.

The value of the transaction was not disclosed.

One & Two Paces West, which are 14 and 17 stories respectively, provide a total of more than 646,000 square feet of rentable space. Built in 1987 and 1989 on a wooded 9.2-acre site, the towers provide panoramic views of rolling landscapes, the Atlanta skyline, and the Appalachian foothills.

The buildings, located at 2727 Paces Ferry Road SE in Atlanta’s core Cumberland/Galleria micromarket, are served by two multistory parking garages with more than 1,500 covered spaces, and surface parking is available for 152 additional vehicles. On-site amenities include a cafe, a coffee shop, a fitness center, a car detailing service, a dry-cleaning shop and a full-service bank.

At the time of sale, Paces West was 82 percent leased, with five major tenants occupying 51 percent of the rentable space. Major tenants include Piedmont Hospital; Docucorp, an international software company; and BT Americas, a subsidiary of global telecom giant, BT Group.

Behringer Harvard is an investment company that offers a diverse selection of real estate funds reflecting core, value-added and opportunistic investment strategies.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Refer friends to Select and get $200 in credit.Learn More×
Connect Now is just days away. Don't miss out.Reserve your seat today.×