Lincoln Property Company Southeast in Conjunction with SRS Arranges $33.5 Million Acquisition of Historic Hurt Building in Downtown Atlanta
Lincoln Property Company Southeast has arranged the $33.5 million acquisition of the Hurt Building, a 436,340-square-foot historical building located at 50 Hurt Plaza in downtown Atlanta.
Chip Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS Real Estate Partners co-represented the buyer, Gamma Real Estate and local partner, Dion Meltzer, in the transaction. The seller, Boxer Properties, sold the asset in an off-market transaction arranged by Lincoln and SRS.
“The Hurt Building is one of Atlanta’s iconic buildings and remains a landmark downtown,” Sipple said. “Right now, the building is 71 percent leased. Dion and his partners are going to implement a strategic renovation to push rates and lease up the remaining vacancy in the continued market recovery and momentum that is happening Downtown.”
Stonis added, “The Hurt Building is one of the nation’s earliest skyscrapers, and at the time it was built in 1913, it was one of the largest office buildings in the world. Though recently it has most notably served as a filming location for movies and television shows, it remains an integral part of Atlanta’s architectural history.”
Designed in 1913 by architect Joel Hurt, the 18-story building incorporates classic architecture with modern amenities. The Hurt Building is centrally located in downtown Atlanta with easy access to public transportation, Interstates 75, 85 and 20, the government district, Georgia State University and cultural and entertainment destinations.