Property Type

ATLANTA — PGIM Real Estate, the real estate investment business of PGIM, has purchased Regions Plaza, a 23-story office tower located at the northwest corner of West Peachtree and 14th streets in Atlanta’s Midtown district. Jim Mehalso led the transaction internally for PGIM on behalf of its institutional investor clients. Constructed in 2001, the 502,846-square-foot Regions Plaza is LEED Gold- and Energy Star-certified and features valet parking, a conference facility, on-site Flywheel and FlyBarre Studio, dry cleaning services, dining and on-site banking facility. The sales price and seller were not disclosed. PGIM is the global investment management business of Prudential Financial Inc.

ATLANTA — Chicago-based Coyote, a logistics provider and subsidiary of UPS, has signed a lease for 47,986-square-feet of office space within Armour Yards, an adaptive reuse project situated between Atlanta’s Midtown and Buckhead districts. Coyote will lease the entire office portion at 255 Ottley, bringing the overall Armour Yards project to 86.4 percent leased. Gourmet coffee roaster East Pole Coffee Co. will also open at 255 Ottley later this month. Brooke Dewey of JLL represented the ownership group comprising Third and Urban and institutional investors advised by J.P Morgan Asset Management in the lease transaction. MB Real Estate’s David Burkards represented Coyote. The Armour Yards location will be the second Atlanta-area office for the logistics company and will create roughly 325 jobs. Coyote’s existing location is situated at 960 North Point Parkway in Alpharetta, roughly 25 miles north of Atlanta. Situated near the Atlanta BeltLine, Armour Yards comprises 28 buildings and is home to companies including Sweetwater Brewing Co., American Spirit Works, Atlanta Track Club and Fox Bros. Bar-B-Q. The project team includes Smith Dalia Architects and general contractor Gay Construction. Armour Yards’ loft-office portion is housed within four former industrial buildings totaling 190,000 square feet.