28th Street Ventures Acquires Retail Asset At 1420 Peachtree Street For $34 Million From Franklin Street Properties Corp. REIT

The property involved in the transaction is a retail asset located at 1420 Peachtree Street in Atlanta, GA. The sale was concluded on October 31, 2024, with a total sale price of $34,000,000. The building encompasses a total of 160,000 square feet, translating to a price per square foot of $213.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $34,000,000
• Buyer: 28th Street Ventures
• Seller: Franklin Street Properties Corp. REIT
• Sale Date: 10/31/2024
• Location: 1420 Peachtree Street, Atlanta, GA
• Square Feet: 160,000
• Price Per Square Foot: $213
• Brokers: Jay O’Meara, Justin Parsonnet, Ryan Reethof & William Yowell - CBRE

The key individuals involved in this deal include the buyer, 28th Street Ventures, and the seller, Franklin Street Properties Corp. REIT. Franklin Street Properties Corp. REIT incurred a loss of over $11 million from the original purchase price of $45.5 million made in 2016 when selling this property.