A 23-story building in Cobb County, designed by John Portman, is on the market, hoping to attract the attention of investors who have been hungry for well-leased, Class A office buildings.
The building, Riverwood 100, is near Cumberland Mall at the intersection of Cobb and Cumberland parkways. It was completed in 1989.
Marketing materials from broker Eastdil Secured say the building is 87 percent leased, with anchor tenant Aon Hewitt and smaller tenants Gentiva Health Services and Cohen Pollock. Eastdil’s Web site doesn’t list an asking price.
Once conceived as a master planned, luxury office campus by Portman and developer Hal Barry, the parcels around the tower were split up in the 1990s, due to a real estate recession at that time.
But developer Bob Voyles' Seven Oaks Company formed a joint venture in 2007 with GE Asset Management to reassemble the Riverwood, according to news reports then. Plans called for another office tower, plus retail, condos and a hotel on the 22 acres. Those plans stalled during the recent downturn.
Eastdil is calling the building an “iconic Atlanta trophy asset.” The lobby has polished granite floors and walls.
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