Atlanta, GA, August 26, 2025
News Summary
The Peachtree Center, a prominent property in downtown Atlanta, is now up for sale with an asking price of $121 million. Comprising six office towers and a 115,000-square-foot food hall, the development faces challenges with high vacancy rates ranging from 27.4% to 79.6%. Managed by JLL, the property is part of a shifting downtown office market, where new trends favor mixed-use and residential spaces over traditional offices. Despite these challenges, Peachtree Center has a historical significance in revitalizing the area since its inception in the 1960s.
Atlanta, GA – The iconic Peachtree Center, a significant property in downtown Atlanta, is now listed for sale at an asking price of $121 million. The listing, managed by real estate firm JLL, includes a complex of six office towers, a food hall, and a connected underground mall.
Located in the hotel district, Peachtree Center encompasses a total of 2.5 million square feet of office space, complimented by a 115,000-square-foot food hall. The property also boasts convenient access to public transportation through the underground Peachtree Mall, which connects directly to MARTA, Atlanta’s public transit system, and the Marriott Marquis hotel.
Despite its prime location, the Peachtree Center faces significant challenges in terms of occupancy. Current vacancy rates across its towers range considerably, with rates reported between 27.4% to 79.6%, according to data from CoStar. Notable tenants currently occupying space in Peachtree Center include the U.S. Nuclear Regulatory Commission, Habitat for Humanity, and several law firms.
The downtown Atlanta office market has been under strain, particularly as neighborhoods like Midtown rise in prominence and attract corporate tenants. This trend has led to notable occurrences, such as the owner of 55 Allen Plaza returning their property to lenders due to financial difficulties. In contrast, new developments like the $5 billion mixed-use Centennial Yards project nearby are adapting to the market by shifting focus to residential spaces instead of office buildings, reflecting a broader trend amidst the weak office market.
In the case of Peachtree Center, its previous owner, Banyan Street Capital, defaulted on a mortgage in 2022, leading the property to be assigned to a special servicer, Situs AMC. Currently, Torchlight Investors is handling the property’s sale with the objective of returning capital to CMBS bondholders who are relying on the timely repayment of their debt investment.
The Peachtree Center is backed by a commercial mortgage-backed security managed by J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-PTC. The property carries an outstanding floating-rate, interest-only loan valued at $115.3 million.
Historically, Peachtree Center has played a pivotal role in revitalizing downtown Atlanta since its opening in the 1960s, designed by architect John Portman. Its distinct design marks Atlanta’s emergence as a prominent city in the Sun Belt region. Nevertheless, Peachtree Center has experienced difficulties in maintaining high-quality tenants. JLL’s marketing materials indicate that properties like Peachtree Center are expected to sell at discounted rates compared to their potential market value.
With regards to the sale, ownership is open to offers for individual components of Peachtree Center or for the purchase of the entire property. A recent public appraisal determined its value at $121 million. In a related note, Portman Holdings recently listed another property within the Peachtree Center, located at 230 Peachtree St, although the sale does not include the Hotel Indigo on floors two through nine.
The team at JLL representing the seller consists of professionals including Richard Reid, Huston Green, C.J. Kelly, Peter Yorck, Katie Teague, and Tyler Palmer.
Key Features of Peachtree Center
| Feature | Details |
|---|---|
| Location | Downtown Atlanta |
| Asking Price | $121 million |
| Office Space | 2.5 million square feet |
| Food Hall Size | 115,000 square feet |
| Vacancy Rates | 27.4% to 79.6% |
| Notable Tenants | U.S. Nuclear Regulatory Commission, Habitat for Humanity, John Marshall Law School |
| Outstanding Loan | $115.3 million |
| Historical Significance | Revitalized downtown Atlanta, opened in 1960s |
FAQ
What is Peachtree Center?
Peachtree Center is a cluster of mixed-use towers located in downtown Atlanta, comprising office space and a food hall.
What is the asking price for Peachtree Center?
The Peachtree Center is listed for sale at $121 million.
What are the vacancy rates at Peachtree Center?
Vacancy rates within the towers range from 27.4% to 79.6%.
Who are some of the tenants at Peachtree Center?
Tenants include the U.S. Nuclear Regulatory Commission, Habitat for Humanity, and John Marshall Law School.
How has the downtown Atlanta office market changed?
The Atlanta downtown office market has faced challenges, with Midtown and other areas becoming more desirable for corporations.
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Additional Resources
- Atlanta News First: Peachtree Center for Sale
- Wikipedia: Peachtree Street
- CoStar: Landmark Atlanta Office Complex
- Google Search: Peachtree Center Atlanta
- 11Alive: Hooters Downtown Atlanta Closure
- Encyclopedia Britannica: Atlanta
- Fox5 Atlanta: Bricks Fall from Hotel
- Google News: Atlanta Office Market
Author: STAFF HERE ATLANTA WRITER
The ATLANTA STAFF WRITER represents the experienced team at HEREAtlanta.com, your go-to source for actionable local news and information in Atlanta, Fulton County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as vibrant music festivals like Shaky Knees and Music Midtown, major cultural celebrations including Dragon Con and the Atlanta Film Festival, and iconic sporting events like the Peachtree Road Race. Our coverage extends to key organizations like the Metro Atlanta Chamber of Commerce and the Atlanta Convention & Visitors Bureau, plus leading businesses in logistics, beverages, and retail that power the local economy such as Delta Air Lines, The Coca-Cola Company, and The Home Depot. As part of the broader HERE network, including HEREAugusta.com and HERESavannah.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
