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Columbia Property to sell its remaining Atlanta office assets

Columbia Property Trust Inc. is placing the remainder of its Atlanta office portfolio for sale, including the Lindbergh Center and One & Three Glenlake Parkway in the Central Perimeter submarket, the Atlanta Business Chronicle reported.

The planned sale comes at a time when the office landlord is shifting its focus to acquiring and developing properties in the gateway cities of New York; San Francisco; and Washington, D.C., the publication added.

Telecommunications giant AT&T Inc. has a lease for over 955,000 square feet at the Lindbergh Center twin towers until 2020-end, while Inspire Brands, parent company of restaurant brands Arby's and Buffalo Wild Wings, takes up the entire Three Glenlake building.

AT&T, however, is said to be vacating 2.5 million square feet of office space across Atlanta as part of a consolidation of local operations into properties like Buckhead's Lenox Park development, the publication reported earlier.

On behalf of the seller, CBRE Group Inc. and Cushman & Wakefield are marketing the fully occupied Glenlake buildings and the Lindbergh towers, respectively, according to the Oct. 9 report.