“A key selling-point for 171 17th Street is its dynamic and central location,” said Allen Aldridge, senior vice president for KBS and asset manager for the property. “Wells Fargo’s continuing commitment is a testament to the office building’s accessibility and multi-functionality, enabling a great work-life balance.”
The 21-story, Class A office tower offers over 510,000 square feet of rentable space. Built in 2004, the property was the first skyscraper built west of Atlanta’s Downtown Connector and was the first-ever LEED Silver Core & Shell-certified building in the world. In addition to the property’s onsite amenities, which include a restaurant, indoor and outdoor tenant lounge, conferencing facilities and shuttle service, the office building is equipped with an expansive lobby with high-end finishes, column-free floor plates and floor-to-ceiling windows.
171 17th Street is the cornerstone office tower of the larger Atlantic Station mixed-use project, which includes a variety of restaurants, retail and services, residential and close proximity to Georgia Institute of Technology, one of the country’s leading universities for research and technology. The property also has direct access to I-75 and I-85.
JLL represented Wells Fargo and Glenn Kolker and Sonia Winfield of Cushman & Wakefield represented KBS in the transaction.
KBS is a private equity real estate company and an SEC-registered investment adviser. Founded in 1992 by Peter Bren and Chuck Schreiber, it is recognized as one of the largest commercial office owners globally. Since inception, KBS-affiliated companies have completed transactional activity in excess of $38 billion via 16 separate accounts and six commingled funds, for government and corporate pension funds. Additionally, KBS has sponsored five sovereign wealth funds and seven SEC-registered, non-traded REITs. For information, visit www.kbs.com.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended including statements relating to KBS REIT III’s ability to invest in and manage a diverse portfolio, and the performance of 171 17th Street and of the Atlanta real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS REIT III’s and/or 171 17th Street’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.