KBS Real Estate Investment Trust III Inc. has brought a 17-story office tower at 201 17th St. to market, offering investors an opportunity to acquire a high-rise property within Atlanta’s Atlantic Station development. The asset is currently being marketed for sale, with no guidance pricing disclosed in the available materials.
According to reporting cited from the Atlanta Business Chronicle, KBS REIT III originally acquired the building in 2015 for $98.3 million. That historical purchase establishes a reference point for investors evaluating how pricing expectations today compare with the prior transaction, but the current asking price and valuation metrics have not been made public.
In a recent public filing, KBS REIT III indicated that it needs to sell some properties in order to satisfy debt obligations. The decision to actively market the 201 17th St. tower is part of that broader effort, suggesting that the REIT is using asset sales to address balance sheet requirements rather than holding the property for the long term.
The 17-story tower is reported to be 88% leased. The building benefits from long-term anchor tenancy, though specific anchor lease terms beyond one tenant’s commitment are not detailed. The property also draws from its location within Atlantic Station, a large mixed-use development that offers surrounding amenities and an established urban environment.
The tenant roster at 201 17th St. includes a mix of financial services, legal, technology, and consulting occupiers. Current tenants are Worldpay US, Inc. / FIS (Fidelity Information Services), law firm Nelson Mullins Riley & Scarborough LLP, and Purchasing Power, which holds a multi-floor lease commitment that extends through 2032. Additional tenants include Tractian, Feedzai Inc., and Bluewolf, an IBM company focused on Salesforce cloud consulting and advisory services.
Amenities at the building are positioned to support both tenant retention and prospective leasing. The tower features a 15,000-square-foot penthouse area that includes a modern outdoor deck, barbecue grill, bar, and skyline views. Interior shared spaces comprise a conference facility designed for tenant meetings and presentations, a dedicated lounge intended for relaxation and collaboration, and an on-site café that provides food and beverage service within the building.
While the current marketing process, potential buyer pool, and timing for a sale have not been disclosed, the combination of established tenancy, on-site amenities, and its setting within Atlantic Station frame the offering as a stabilized office asset being sold in response to the REIT’s stated need to meet debt obligations.
