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 32
Design and construction
Architect Skidmore, Owings and Merrill

The Equitable Building is a 32-story, 453 foot (138 m) tall office building in Atlanta, Georgia. It is 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. The building's "EQUITABLE" signage remains an easily recognizable piece of the downtown Atlanta skyline, while the tower's black finish stands in sharp contrast to the surrounding buildings.

The Equitable Building is adjacent to the historic Flatiron Building and the historic Rhodes-Haverty Building. The building's site is bounded on the southwest by Luckie Street, on the northwest by Forsyth Street, on the northeast by Williams Street, and on the southeast by Peachtree Street. The public greenspace and outdoor seating of Woodruff Park is located across Peachtree Street to the south. The building is serviced by MARTA trains at the Peachtree Center station, as well as the the Atlanta Streetcar at the Woodruff Park and Peachtree Center streetcar stops.

Ownership[edit]

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

The building was constructed for the Equitable Life Insurance Company in 1968, with the company maintaining ownership of the building from 1968 to 1997 when it was sold to Chicago-based LaSalle Advisors for roughly $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 dropped by more than 25%, and the building reached a vacancy level of 50%. By April 2009, the building was in foreclosure, and was to be auctioned in May of that year. 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 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. This tornado stands as the the only one to have 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]