Equitable Building (Atlanta)
| Equitable Building | |
|---|---|
 |
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| General information | |
| Type | office |
| Location | 100 Peachtree Street NW, Atlanta, Georgia, USA |
| Coordinates | 33°45′24″N 84°23′19″W / 33.756774°N 84.388577°WCoordinates: 33°45′24″N 84°23′19″W / 33.756774°N 84.388577°W |
| Construction started | 1966 |
| Completed | 1968 |
| Height | |
| Roof | 453 ft (138 m) |
| Technical details | |
| Floor count | 33 |
| Design and construction | |
| Owner | Capmark Bank (100 Peachtree Street Atlanta LLC) |
| Architect | Skidmore, Owings and Merrill |
The Equitable Building is a 35-story, 453 foot (138 m) tall office building in Atlanta, Georgia, located at 100 Peachtree Street in the Fairlie-Poplar neighborhood in downtown Atlanta. A typical example of an International-style skyscraper, the building was designed by Chicago-based architectural firm Skidmore, Owings and Merrill, and was constructed in 1968 on the site of the former Piedmont Hotel.
Its location is next to the historic Flatiron Building across Peachtree Street to the east, and the historic Rhodes-Haverty Building across Williams Street to the northeast. It is also bounded by Forsyth Street on the northwest, and Luckie Street on the southwest. Woodruff Park is just across Broad Street to the south, and that intersection and pedestrian plaza would be where the future Peachtree Streetcar lines intersect.
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[edit] Ownership
The building was owned by Equitable Life Assurance Society from 1968 to 1997, when it was sold to Chicago-based LaSalle Advisors for almost $36 million. In 2007 it was purchased by Equastone 100 Peachtree LLC for 57 million.
Due to the late-2000s recession, the value of the building has dropped by more than 25%, and the building is 50% vacant. As of April 2009, the building was in foreclosure, and was to be auctioned on May 5. Equastone owed 52 million dollars to Capmark Bank, and thus was upside-down on its mortgage.
On June 2, 2009 the building was put up for auction in Atlanta. The only bidder, 100 Peachtree Street Atlanta LLC, an affiliate of Capmark Bank, bought the building for $29.5 million.[1]
The Atlanta Business Chronicle reported in late January 2010 that Georgia State University may be interested in buying the building and its parking deck, to accommodate a growing enrollment now over 30,000 students.[2]
The Atlanta Journal Constitution reported in May 2011 that Georgia State University was negotiating to purchase the building to house its renowned J. Mack Robinson School of Business and provide much-needed office space. On July 6, 2011, the Atlanta Journal Constitution reported that the building had been purchased by Florida based America's Capital Partners for $19 million. [3]
[edit] 2008 tornado
On March 14, 2008, the Equitable Building sustained minor damage, mainly shattered windows, when a tornado tore through downtown Atlanta. It was the only tornado to have ever hit the downtown area since the city's founding.[4][5]
[edit] See also
[edit] References
- ^ , The Atlanta Journal-Constitution, http://www.ajc.com/services/content/business/stories/2009/06/02/equitable_building_auctioned.html?cxtype=rss&cxsvc=7&cxcat=6, retrieved June 2, 2009
- ^ Sams, Douglas (January 25, 2010), GSU may buy Equitable Building, The Atlanta Business Chronicle, http://atlanta.bizjournals.com/atlanta/stories/2010/01/25/story2.html, retrieved January 25, 2010
- ^ Georgia State in negotiations to buy iconic Equitable Building, The Atlanta Business Chronicle, http://www.ajc.com/business/georgia-state-in-negotiations-955987.html, retrieved May 24, 2011
- ^ Tornado Kills 1, Pummels Downtown by Tim Eberly and Paul Shea for the Atlanta Journal and Constitution, March 15, 2008. Retrieved March 15, 2008.
- ^ Atlanta Tornado: The Aftermath: Landmarks Take a Hit by Rhonda Cook et al. for the Atlanta Journal and Constitution, March 16, 2008. Retrieved March 16, 2008.
[edit] External links
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