The Terraces Headed to the Market
The Class-A office towers to be offered by Rubenstein Properties Fund
The owners of The Terraces are putting the 11-story twin office towers on the market, according to the Atlanta Business Chronicle.
Rubenstein Properties Fund L.P. acquired the towers as part of a portfolio of $550 million in Perimeter office space, the Chronicle reported.
Both the roughly 541,000 square feet North Terrace and the 525,000 square feet South Terrace will go on the market, along with several undeveloped sites on the 25-acre project.
The buildings are 64 percent leased and are expected to attract investors who are looking for a price that is well off the peak from several years ago.
Medical device company Elekta recently announced it was moving to The Terraces from Norcross - filling up to 70,000 square feet and potentially adding 100 jobs in Dunwoody over the next five years.