A familiar part of the downtown Atlanta skyline has a new co-owner.
Koch Industries Inc. has purchased MetLife’s share of the Georgia-Pacific Center, the remainder being owned by the building’s namesake company. Neither MetLife nor Koch has divulged the terms of the property transfer, although the building has been assessed to be worth around $77.9m by Fulton County records.
The 1.1 million sq. ft office tower that currently occupies 133 Peachtree Street served as the focal point of downtown Atlanta’s revitalization. The 52-story, red granite building is the sixth tallest building in Atlanta, and the iconic property has been a fixture in the downtown area since before its construction in 1982.
The spot at which the Georgia-Pacific Center now sits was formerly occupied by Loew’s Grand Theatre. Movies buffs will recognize this as the site of the ‘Gone with the Wind’ premier in 1939.
On the surface, little will change with the property transfer. The more than 2,500 employees of Georgia-Pacific, which occupies 675,000 square feet of the LEED Silver-certified skyscraper, will continue to come to work there. Stationery printers will not be called upon to make changes to Letterheads or Business Cards. Georgia-Pacific renewed its lease in 2013, and the building will, according to the new ownership agreement, continue to operate as a multitenant property containing a handful of retailers and other offices.Get a Free Quote for Business Cards Get a Free Quote for Stationery Get a Free Quote for Letterheads
