DALLAS -- (Business Wire)
TIER REIT, Inc. (NYSE: TIER) announced today that it has re-entered the
Atlanta market with its acquisition of 3354 Peachtree Road, a prime,
three-acre land site in the prestigious Buckhead submarket. The
acquisition was made through a joint venture with an entity owned by
Regent Partners and Batson-Cook Development Company.
The site is currently planned for the development of approximately
560,000 square feet of office space, and is located in a strategic TIER1
submarket, given its urban location along the pedestrian bridge to
MARTA’s Buckhead station and its walkability and access to various
amenities including dining, retail, high-rise residential and hotels.
“We are pleased to re-enter the Atlanta market and reload our
pre-development pipeline with this coveted real estate,” stated Scott
Fordham, Chief Executive Officer of TIER REIT. “We look forward to
partnering with Regent Partners in seeking appropriate pre-leasing and
developing a trophy office tower on one of the best remaining land
opportunities in Buckhead.”
About TIER REIT, Inc.
TIER REIT, Inc. is a publicly traded (NYSE:TIER), self-managed,
Dallas-based real estate investment trust focused on owning quality,
well-managed commercial office properties in dynamic markets throughout
the U.S. TIER REIT’s vision is to be the premier owner and operator of
best-in-class office properties in TIER1 submarkets, which are primarily
higher density and amenity-rich locations within select, high-growth
metropolitan areas that offer a walkable experience to various
amenities. Our mission is to provide unparalleled, TIER ONE Property
Services to our tenants and outsized total return through stock price
appreciation and dividend growth to our stockholders.
For additional information regarding TIER REIT, please visit www.tierreit.com
or call 972.483.2400.
About Regent Partners
Regent Partners is an Atlanta-based firm specializing in the acquisition
and development of office, residential, hotel, retail and mixed-use
projects. Regent has extensive experience in the Buckhead submarket,
having acquired or developed 2.1 million square feet valued at $650
million. Regent developed the nearby 3344 Peachtree office tower and has
won numerous industry awards from NAIOP and ULI, including Project of
the Year, Development of the Year, and Office Deal of the Year.
About Batson-Cook Development Company
Batson-Cook Development Company was formed in 1963 and is a commercial
real estate company specializing in development, pursuit capital,
construction services, and brokerage services. A subsidiary of Kajima
USA, Batson-Cook Development is based in Atlanta and focuses on the
development of office, retail, condominium, hotel, residential,
government, and mixed-use projects throughout the Southeastern United
Certain statements made in this press release that are not based on
historical information are forward-looking statements, which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. This press release contains express or
implied forward-looking statements for which no assurance can be
provided. TIER REIT undertakes no obligation to update or revise the
information contained in this press release, whether as a result of new
information, future events or circumstances, or otherwise. For
additional disclosure regarding these and other risks faced by the
Company, see the disclosure contained in our public filings with the
Securities and Exchange Commission, including, without limitation, our
most recent Annual Report on Form 10-K.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190304005136/en/
TIER REIT, Inc.
Scott McLaughlin, 972.483.2465
Source: TIER REIT, Inc.
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