Done Deals: HFF closes $58 million sale of premier multi-tenant office building in Atlanta’s Buckhead submarket

Sunday, February 10, 2019

HFF closes $58 million sale of premier multi-tenant office building in Atlanta’s Buckhead submarket

Piedmont Center 14, 3535 Piedmont Road, Buckhead, GA

Richard Reid

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the $58 million sale of Piedmont Center 14, a Class A office building totaling 300,454 square feet in the Buckhead submarket of Atlanta, Georgia.

HFF marketed the property on behalf of the seller, and procured the buyer, The Ardent Companies.

The property is located at 3535 Piedmont Road within Piedmont Center, a multi-building office park containing 2.1 million square feet on 52 acres in the heart of Buckhead.

Buckhead has long been considered Atlanta’s preeminent office market due to its renowned neighborhoods and multitude of hotels, restaurants, nightlife and upscale retail offerings.

Ryan Clutter

Piedmont Center 14 is positioned on 4.9 acres within the park and features 18 stories of Class A office space that is 79 percent leased to tenants, including MagMutual, Change Healthcare, Kenzie Lane and NCC Media.

The HFF investment advisory team representing the seller consisted of senior managing directors Richard Reid and Ryan Clutter and managing directors Ralph Smalley and Huston Green.

The Ardent Companies is a group of companies operating as a privately held real estate investment and asset management firm that combines the disciplines of research and comprehensive due diligence with a commitment to long-term relationships creating compelling risk adjusted returns for investors.

Ralph Smalley

At its core, Ardent has an extensive and diverse understanding of real estate, corporate finance, and banking that provide multiple investment alternatives (e.g., loan and fee simple acquisition, bridge lending, development/rehabilitation).

Ardent has earned a reputation for being a dynamic investor, capable of expeditious due diligence and creativity focused on reaching the closing table.