Ackerman & Co.’s Land Group Represents Drapac Capital Partners in $8.4 Million Purchase of 1.3-Acre Site in Downtown Atlanta

1.3-Acre Land Parcel is Next to Allen Plaza Tower,
Downtown Atlanta, GA

ATLANTA,GA – Ackerman & Co. announced its Land Group has represented Drapac Capital Partners in the purchase of 50 Ivan Allen Jr. Boulevard, a prime 1.3-acre land parcel in downtown Atlanta, for $8.4 million. The seller was Regent Partners and Worthington Hyde Partners.

John Speros

The Land team, led by John Speros of Ackerman & Co. and Kyle Gable of Pioneer Land Group, represented the buyer.

Drapac will hold the property for future development or sale. The parcel – bounded by Spring Street, William Street, Ivan Allen Jr. Blvd. and West Peachtree Place – is located next to the 348,658-square-foot 55 Allen Plaza office tower.

“Drapac Capital Partners believes in the growth of Atlanta’s downtown core,” said Speros. “Given the demand for land and rising prices downtown, we believe virtually all new development in this area will be high-rise and support even higher land prices.”

Kyle Gable

The property offers immediate access to the I-75/85 connector and the Civic Center MARTA station.

To date, the Land Group has represented Drapac, an international property investment group with U.S. headquarters in Atlanta, in land transactions in excess of $39 million.

  

 CONTACT:

Steve Webb

 swebb@ACKERMANCO.NET

 www.ackermanco.com