A prominent 19-story office building in Buckhead is under new ownership.
Buckhead Tower has been acquired by developer TPA Group, real estate services giant JLL announced Thursday. The tower, located at 3399 Peachtree Street across from the MARTA’s Lenox Station, is connected to the JW Marriot Hotel and shares a promenade with Lenox Square Mall.
The Class-A office building — a designation for the most prestigious buildings with above-average rents — is 85 percent leased. Class-A vacancies in Buckhead are less than 14 percent, a JLL press release said.
Networx Systems, a home improvement search engine, relocated its North American headquarters to the building earlier this year. HFF, a commercial real estate service provider, has relocated their Atlanta office there.
The owners plan to expand upon recent renovations, which included a newly renovated lobby, amenity space and modernized elevators. JLL Managing Director Adam Viente and Managing Director Jeff Frantz will continue to lead leasing and marketing efforts under the new ownership.
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Most of the residents are on fixed incomes and cannot afford to live in another high-rise in the area.