Atlantic Yards (office project in Atlanta) fully leased, and newly purchased

Atlantic Yards in Atlanta seems a more successful--and less ambitious--project than the earlier-named Atlantic Yards in Brooklyn, which in 2014 was renamed Pacific Park.

From a 7/19/22 press release, KKR ACQUIRES ATLANTIC YARDS IN ATLANTA, GEORGIA:

ATLANTA & NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that Global Atlantic Financial Group (“Global Atlantic”), a majority-owned subsidiary of KKR, has acquired Atlantic Yards, a Class A trophy, two-building office asset located in Midtown Atlanta, from global real estate firm, Hines, and its institutional joint venture partner advised by Invesco Real Estate, a global real estate investment manager.

Atlantic Yards consists of 523,511 square feet (SF) of Trophy Class A office in two towers. The buildings were built in 2021 and are located within Atlantic Station, a 12.5 million SF master planned sustainable mixed-use development in Atlanta’s Midtown submarket.... 

[Roger Morales, KKR Partner and Head of Real Estate Acquisitions in the Americas. said,] “As one of the highest quality properties in the market, with strategic importance to a blue-chip tenant, Atlantic Yards provides a long-term, yield-oriented exposure that is a perfect match for our insurance capital." 

The property is 100% leased to Microsoft Corp. through 2035 and serves as a cornerstone of the company’s growing presence in the broader Atlanta metropolitan area....