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Piedmont Office Realty pays $231M for 2 office towers, land parcel in Atlanta

Piedmont Office Realty Trust Inc. completed the acquisition of the Galleria 400 and Galleria 600 office towers in Atlanta along with an adjacent 10.2-acre land parcel for a combined $231.2 million.

The two towers total roughly 860,000 square feet, and the land parcel is entitled for 1 million square feet of development.

Piedmont has invested just under $500 million in The Galleria master-planned development since 2015, assembling 2.1 million square feet of office space across five buildings as well as three development sites.