One of the oldest properties in Atlanta was sold and is in prime position for redevelopment in the heart of city’s downtown area.
Atlanta-based real estate investment management company Colliers handled the sale of the Grant Building, a 125-year-old, 10-story, 125,000-square-foot office building. The property is in a high-traffic area at the corner of Broad Street near Georgia State University’s main campus, Underground Atlanta and Woodruff Park and within walking distance of Centennial Olympic Park.
Colliers Senior Vice President Helen Zaver represented the seller, described as Grant Building OPF, LLC, according to Fulton County property deeds. The building was sold for an undisclosed sum. “The historic Grant Building is one of the oldest buildings in Atlanta and through the years, its office use became obsolete,” Zaver told The Atlanta Voice. “To see such a beautiful building come back to life and see its full potential in today’s changing environment, especially post Covid, is tremendous.” Zaver was also responsible for sourcing the buyers.
The purchase is a joint venture between Bluelofts, a Dallas-based real estate development company who’s motto is “No place for vacant space,” and Wolfe Investments. The companies are described in the property deeds as 44 Broad Street LLC.
The idea is to turn the Grant Building into apartments. “By reinventing old buildings, we can honor the past while transforming it into something new – preserving our shared legacy for generations to come,” John Williams, Bluelofts co-founder, said in a statement.
“The mix of uses including a retail, office and multifamily is the best direction for the future,” added Zaver.
This will be the third renovation in the buildings history. The most recent renovations being interior upgrades to elevators and key systems in 2019.