Big Brothers Big Sisters of Metro Atlanta (BBBSMA) has sold its building located at 1382 Peachtree Street NE in Midtown Atlanta. The building, which was purchased in 2011, has grown considerably in value due to its location at the corner of 17th and Peachtree Streets. The building has been sold to Greystar Real Estate Partners LLC, a global leader in the investment, development and management of high-quality rental housing properties headquartered in Charleston, SC.
BBBSMA will immediately begin buildout on a new headquarters office at The MET Atlanta, an industrial warehouse space in the West End developed by Carter. “A move to the West End will allow us to be closer to many of the families we serve. It provides easy access to our services, whether participants are driving or taking MARTA,” says Kwame Johnson, President and CEO. “We are looking forward to becoming part of this vibrant neighborhood.”
BBBSMA worked with Colliers (NASDAQ, TSX: CIGI), the third largest global commercial real estate and investment management company with operations in 68 countries, to secure this sale. Colliers’ Senior Vice President and Principals, Michael Lipton and Jodi Selvey worked hand- in-hand with BBBSMA during this complex transaction to ensure the best outcome for their specific office needs.
“We initially sold BBBS’ existing building to the organization back in 2011 with the intention that it would rise in value and serve as a good investment, which was the ultimate result,” said Selvey. “A decade later, we were able to continue our relationship with the client to secure the best selling price and act quickly during the pandemic to overcome unforeseen challenges. We look forward to continuing our relationship with BBBSMA and to support such an important cause.”
The mission of BBBSMA is to create and support one-to-one mentoring relationships that ignite the power and promise of youth. As the agency strives to serve the children who are farthest from opportunity, proceeds from the building sale and a capacity-building fundraising campaign will allow BBBSMA to better meet the changing needs of metro Atlanta.
By BBBS of Atlanta