Equitable Building (Atlanta)

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For the demolished Edgewood Avenue building, see Equitable Building (Atlanta 1892).
Equitable Building
EquitableAtlanta.jpg
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°W / 33.756774; -84.388577Coordinates: 33°45′24″N 84°23′19″W / 33.756774°N 84.388577°W / 33.756774; -84.388577
Construction started 1966
Completed 1968
Owner Capmark Bank (100 Peachtree Street Atlanta LLC)
Height
Roof 453 ft (138 m)
Technical details
Floor count 33
Design and construction
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.

Ownership[edit]

View from the north, with Rhodes-Haverty at lower left

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]

In late January 2010 there were reports that Georgia State University was interested in buying the building and its parking deck[2] and in May 2011 the Atlanta Journal Constitution reported that GSU was in negotiations to purchase the building to house its renowned J. Mack Robinson School of Business.[3] No deal was ever publicly announced.

On July 6, 2011, the building was purchased by Florida based America's Capital Partners for $19 million.[4]

2008 tornado[edit]

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.[5][6]

See also[edit]

References[edit]

  1. ^ , 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  Missing or empty |title= (help)
  2. ^ Sams, Douglas (January 25, 2010), GSU may buy Equitable Building, The Atlanta Business Chronicle, retrieved January 25, 2010 
  3. ^ Georgia State in negotiations to buy iconic Equitable Building, The Atlanta Journal Constitution, retrieved May 24, 2011 
  4. ^ Equitable building sells for $19 million, The Atlanta Journal Constitution, retrieved June 5, 2012 
  5. ^ Tornado Kills 1, Pummels Downtown by Tim Eberly and Paul Shea for the Atlanta Journal and Constitution, March 15, 2008. Retrieved March 15, 2008.
  6. ^ 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.

External links[edit]