Perpetual Atlanta Downpours Penetrate Picturesque Peachtree Tower

By Tony Wilbert, Wilbert News Strategies LLC

ATLANTA (Sept. 22, 2009) - Add One Ninety One Peachtree Tower, the picturesque skyscraper in downtown Atlanta, to the list of properties damaged by the torrential downpours that have swamped this Southern city.

The ceiling of the tower's renowned atrium lobby leaked during the latest round of storms, forcing owner Cousins Properties to shut down part of the common area and break out high-powered fans to soak up the dampness.

"We're just pulling the humidity out of the building," Cousins President and CEO Larry Gellerstedt said as he briefly surveyed the damage Tuesday morning. "Makes me glad I'm not in the construction business anymore."

Gellerstedt, who joined Cousins Properties in 2005 when the REIT acquired his Gellerstedt Group, replaced Tom Bell as Cousins' CEO in July. Previously, he worked several years at Beers Construction, now part of the giant contractor Skanska.

Cousins' acquisition of the 1.2 million-square-foot trophy tower at 191 Peachtree St. for a mere $153 million might have been Tom Bell's greatest accomplishment during his tenure. Even with the building more than half-empty at the time, the price of $126 per square foot was a steal.

Comments

[BOB]

How about: Persistent percipitation penetrates picturesque Peachtree palace?