Lincoln Property Company Southeast (Lincoln) has arranged the $33.5 million acquisition of the Hurt Building, a 436,340-square-foot historical building located at 50 Hurt Plaza in downtown Atlanta.
Chip Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS Real Estate Partners (SRS) co-represented the buyer, Gamma Real Estate and local partner, Dion Meltzer, in the transaction. The seller, Boxer Properties, sold the asset in an off-market transaction arranged by Lincoln and SRS.
“The Hurt Building is one of Atlanta’s iconic buildings and remains a landmark downtown,” Chip Sipple said. “Right now, the building is 71 percent leased. Dion and his partners are going to implement a strategic renovation to push rates and lease up the remaining vacancy in the continued market recovery and momentum that is happening Downtown.”
Kyle Stonis of SRS added “The Hurt Building is one of the nation’s earliest skyscrapers, and at the time it was built in 1913, it was one of the largest office buildings in the world. Though recently it has most notably served as a filming location for movies and television shows, it remains an integral part of Atlanta’s architectural history.”
Designed in 1913 by architect Joel Hurt, the Hurt Building is one of Atlanta’s earliest skyscrapers. The 18-story building incorporates classic architecture with modern amenities. The Hurt Building is centrally located in downtown Atlanta with easy access to public transportation, Interstates 75, 85 and 20, the government district, Georgia State University and cultural and entertainment destinations.
About SRSReal Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.
About Lincoln Property Company
Dallas-based Lincoln Property Company is one of the nation’s largest diversified commercial real estate companies, employing over 6,800 people in 32 states and 10 countries in Europe. Since its inception in 1965, Lincoln has developed over 250 million square feet of office, industrial, and retail projects as well as 209,000 apartment units. Stemming from its development and ownership background, Lincoln's operating platform seamlessly integrates its various service lines, provides for consistent and measureable performance and utilizes cutting-edge technology over its 350+ million square feet of managed assets.
For more information on the Southeast Region of Lincoln Property Company, please visit lpcsoutheast.com. To check out the blog, go to www.lpcsoutheast.com/blog.