This year, I plan on sharing my favorite office buildings / projects in Atlanta with you. I will, of course, focus on the 400 Corridor, but will also include a few buildings away from the corridor. Here’s one of my favorite building focus:
3344 Peachtree – Sovereign (Buckhead)
Developed just before the Great Recession, this building sits 50 stories high with nearly a half million square feet of office space covering the first 26 floors. 82 upscale residential units sit above the office component. The Sovereign Building is one of the most successful vertical, mixed use projects in Atlanta. In my opinion, this building is the most aesthetically pleasing building in Atlanta, as it simply stands out and shines on the GA-400 skyline going towards Buckhead.
Home to the Buckhead Club and Bistro Niko, the Sovereign Building has a great mix of amenities, with a parking garage that has a backdoor to GA-400. Sovereign has one of the highest quoted per square foot rental rates in Atlanta ($36.50 PSF). In 2011, it sold for $167 MM or $346 PSF to Parkway Properties. The current tenant mix consists of financial, law and real estate firms. Currently, the building is 93% occupied. Later this year, Spanx (who occupies 50,000 SF) will be moving out to be the anchor tenant of Buckhead Atlanta, the successor to the Streets of Buckhead project.