Investors to redevelop downtown office tower into apartments, citing pandemic

by John Yellig

Image courtesy of NAI G2 Commercial Real Estate.

Two major real estate investors formed a joint venture to acquire and redevelop the office tower at 41 Marietta St. NW in Downtown Atlanta into a class-A multifamily residential asset.

NAI G2 Commercial Real Estate, an office of global commercial real estate brokerage NAI Global, and SVN | Blackstream, a commercial real estate franchisor of the SVN brand, said their planned transition of the 135,000-square-foot tower is just the beginning of a trend they expect to see more of as the commercial real estate world adjusts to the post-pandemic reality.

“The potential for spaces to transition, such as 41 Marietta going from office to multifamily, will be a trend we will see in the years to come, post pandemic closures,” Troy Reynolds, multifamily advisor for NAI G2 Commercial, said in a press release. 

The property is located between Georgia State University, Mercedes-Benz Stadium and Grady Hospital,
and is also close to Atlanta’s MARTA system, according to the release.

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