By KEVIN DUFFY
The Atlanta Journal-Constitution
Published on: 07/25/07
Georgia-Pacific and MetLife are exploring selling the Georgia-Pacific building downtown.
The 1.1-million-square-foot building, brownish-red granite with a stair-step design, is one of downtown's landmarks.
The two companies have been the only owners of the 51-story tower, which opened in 1982.
"With the strength of the local commercial real estate market, many major Atlanta companies (Bank of America, BellSouth, IBM and Wachovia) in recent years have decided to sell their office buildings to commercial real estate companies or other investors, and lease their space from the new owner," Georgia-Pacific president and COO Jim Hannan said in a memo to employees. "Like these companies, we recognize that owning commercial real estate assets is not core to our operations and so we will look at this as well as other ownership options."
For the complete article: http://www.ajc.com/metro/content/business/stories/2007/07/25/gptower_0726.html