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Developer sells 3 office buildings in Atlanta's Concourse Corporate Center

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Developer sells 3 office buildings in Atlanta's Concourse Corporate Center

Building and Land Technology sold three office properties, dubbed Concourse Buildings I, II and IV, in suburban Atlanta to CBRE Global Investors, the Atlanta Business Chronicle reported.

The buildings, two of which have eight stories and one with four stories, cover nearly half of the 2.2 million-square-foot, 63-acre Concourse Corporate Center which was placed on the market in May for as much as $580 million.

According to the paper, the deal excluded the iconic "King" and "Queen" towers that resemble giant chess pieces and overlook the city of Sandy Springs, Ga. The developer was cited as saying that it is planning additional enhancements to the towers and will retain ownership.

Building and Land paid just short of $500 million for Concourse in 2015, the Dec. 21 report noted.