Historic Downtown Atlanta Office Building Gets New Ownership

10/4/17

The Grant Building will undergo restoration and modernization under new owners

Denver-based Kramer Real Estate Investments and its co-general partner H2 Capital recently acquired the W.D. Grant Building in downtown Atlanta. The new owners have engaged real estate services firm JLL to lease, manage and restore the building, which is listed on the National Register of Historic Places. JLL Atlanta Vice President Mike Werner and Leasing Associate David Horne are marketing and leasing the office space and JLL Retail Vice President Coleman Morris is leasing the retail space. JLL’s Project and Development Services group is overseeing a multi-million-dollar renovation.

The Grant Building is located at 44 Broad St. NW in downtown Atlanta’s Fairlie-Poplar Historic District. Built in 1898, the building is the second oldest steel construction structure in the southeast. The building is 10 stories, totaling 135,000 square feet with approximately 10,000 square feet of retail and restaurant space. The new ownership is planning a significant building modernization, including restoring the elevators, roof, fire protection and building safety systems, installing new lighting, paint and other cosmetic improvements.

The building is situated in a hotbed of activity near Georgia State University’s growing campus and Underground Atlanta, which recently sold for redevelopment. The building’s location and proximity to the Fulton County Courthouse is ideal for law firms and service firms. According to JLL Atlanta’s recent Office Insight report, Class A rental rates downtown have increased nearly 33 percent in the last two years as companies relocate to take advantage of urban amenities. The Grant Building has substantial office space available, including large and small spaces and a 30,000-square-foot block on the top two floors. JLL is targeting tenants desiring an urban, authentic environment in a historic setting.

“Downtown Atlanta is undergoing a real estate boom and turning into a diverse and vibrant economic hub.” said Brandon Kramer, owner of Kramer Real Estate Investments. “We are glad to be a part of the transformation and look forward to returning the Grant Building to its original prominence with JLL’s help.”

“JLL is excited to be involved in such a prominent project. Our firm’s deep experience with downtown Atlanta and historic buildings will help us realize the new ownership’s vision,” said JLL’s Horne. “The Grant Building is an excellent opportunity for companies looking to be a part of downtown’s momentum and office in Atlanta’s most vibrant neighborhood.”

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. AFortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

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