Office Tower Proposed for 12th and West Peachtree
Brand Properties wants to build a 12- to 15-story office building.
An Atlanta developer is pushing to build a 12- to 15-story office building in Midtown on a parcel of land at 12th and West Peachtree streets.
Brand Properties' president, Michael Hoath, says he has the site under contract, according to the Atlanta Business Chronicle.
Hoath told the publication that the project is in its beginning stages, but that he's already in talks with potential tenants.
Brand Proeprties' other projects include the Overlook at Gwinnett Stadium, One Sugarloaf Centre and the Gwinett Braves Staduim, among others.
The Business Chronicle reported this proposed project would be the first significant office building project since the middle of the last decade.
The site sits to the north of the Skyhouse Midtown development owned by NoteSouth, an investment fund run by Novare Group's Jim Borders and Brand Morgan, Brand Properties' chief executive.
Novare Group and the Batson-Cook Development Co.were the developers behind SkyHouse Midtown.
“It’s nice to be truly talking about going vertical with an office building in Midtown for the first time in about six years,” the Business Chronicle quoted Hoath as saying.
Even so, the publication noted that the real estate economy is still slow for office building properties and that it would likely be two years before the project would start.
The Business Chronicle estimated it would cost about $80 million to $90 million to construct the building.