The 21-story, Class A office building, totals 510,268 square feet of rentable space. Built in 2004, the office tower was the first-ever LEED Silver Core & Shell-certified building constructed. In addition to the property’s design, which includes an expansive lobby, column-free floor plates and floor-to-ceiling window lines, the building’s onsite amenities include a restaurant, café/deli, dry-cleaners, ATM, conference center, shuttle service and parking garage.
Located in Atlanta’s Midtown submarket, 171 17th Street is a notable, mixed-use development offering some of the best views in the city, as well as great visibility and accessibility to I-75 and I-85. The property’s surrounding area offers an extensive array of prominent restaurants, entertainment venues, cultural offerings and residences, including The Gate Museum, the High Museum of Art, Atlanta’s Botanical Garden, the Georgia Aquarium and the Mercedes Benz Stadium. The building is also located directly adjacent to the Georgia Institute of Technology, which is one of the country’s leading universities for research/technology.
“Tenants of 171 17th Street truly benefit from the property’s central location in Midtown Atlanta,” said Allen Aldridge, senior vice president for KBS and asset manager for the property. “We believe that as the submarket’s attractiveness continues to grow, we should see increased interest at the property from premier tenants just like Jackson Lewis P.C.”
Sam Hollis of Cushman & Wakefield represented Jackson Lewis P.C. and Glenn Kolker and Sonia Winfield of Cushman & Wakefield represented KBS Real Estate Investment Trust III 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.