The Concourse Corporate Center, home to the iconic skyscrapers nicknamed the “King and Queen,” is for sale.
Regent Partners and other investors have owned the 60-acre complex, built in the 1980s and ’90s in the northeast corner of the I-285/Ga. 400 interchange, since 2012, when they paid $300 million.
Sheldon Taylor, Regent’s chief financial officer, confirmed the sale and referred questions to a source involved in marketing the property. That source said Regent is selling due to the possibility of a good profit – the selling price is expected to top half-a-billion dollars – and that the deal can be all or some of the five-building property.
“[The sale] could be some of it. It could be just the King and Queen,” the source said.
Those twin skyscrapers, each standing over 550 feet tall, are reportedly the tallest office buildings in America’s suburbs. They’re landmarks of the city of Sandy Springs and Perimeter Center in general. The campus also includes a Westin hotel, the Concourse Athletic Club and a pond, among other uses.
Regent primarily leases and manages the complex, while Building and Land Technology is the primary deed-holder.
Just a year ago, Regent proposed a $90 million expansion of the Concourse Center at Hammond Drive and Peachtree-Dunwoody Road. That would have included another hotel, hundreds of apartments and three restaurants. The proposal was well-received by the community, but Regent withdrew it after being informally advised by the city’s planning department that the apartment component would likely would be rejected by officials in the rezoning process. That section remains zoned for a more traditional office building use.