Columbia Property Trust, Inc. has sold Lindbergh Center, a 1.1-million-square-foot, mixed-use property in Atlanta, for $187 million.
“We are pleased to have completed the sale of Lindbergh Center, in conjunction with our focus on gateway U.S. markets,” said Nelson Mills, CEO of Columbia.
“Our portfolio today is among the best-positioned in the office sector, with 48 percent located in New York, 27 percent in San Francisco, and 15 percent in Washington, D.C. The benefits of our gateway market strategy are apparent, with our portfolio at 97 percent leased, generating strong financial performance, and with additional embedded growth still to be realized,” he added.
The mixed-use property consists of two 14-story, twin office buildings, which Columbia Property Trust acquired in 2008. These two buildings are fully leased to AT&T until December 31, 2020.