ATLANTA (July 6, 2011) - John Dewberry has picked up another prime Peachtree property in Midtown.
An affiliate of his Dewberry Capital Corp. acquired the grassy field at the northwest quadrant of Peachtree & 17th streets for $6 million. In mid-June, Bisnow Atlanta broke the news that Dewberry had the property under contract, and Atlanta Business Chronicle reported over the weekend that the transaction closed June 27.
A mixed-use development dubbed 1400 Peachtree had been designed for the 1.7-acre tract, but the real estate recession ruined those plans.
With the deal, Dewberry adds a key north Midtown parcel to his collection. Dewberry stunned real estate watchers last year when he acquired Campanile at Peachtree & 14th. He also owns Peachtree Pointe, the Dewberry Ansley development site and Rhodes Center in the Pershing Point area of Midtown.
Dewberry Capital is working to rebrand the area as "Uptown" Atlanta.