3630 Peachtree Tower Rumored Under Contract for $161.5 Million

3630 Peachtree Tower

A juicy tidbit from BisNow – Sources say Heitman is under contract to buy 3630 Peachtree Tower, the Duke Realty/Pope & Land building in Buckhead that was put on the market in February. Sources also tell us Heitman could be paying somewhere around $380/SF, which would be a Buckhead record price per SF (and value the 425k SF tower at $161.5M). If this closes, it would eclipse the previous Atlanta tower sale record set by Parkway Properties, which purchased 3344 Peachtree for $346/SF in 2011 (although it paid a total of $167M) and the $343/SF sale of Pinnacle to TIAA-CREF in 2004. Sources say the firm could close on the deal as early as next month. The Ritz-Carlton Residences sits on top of the commercial portion of 3630 Peachtree.

Link to article here.

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