ATLANTA (Aug. 4, 2011) - Very quietly, a Mississippi REIT has stormed to the top of the ranking of Atlanta office owners.
Parkway Properties of Jackson now owns 7,690,355 square feet of office space across metro Atlanta, according to its website. Thanks to its acquisition this spring of Eola Capital and record-breaking purchase of 3344 Peachtree (pictured at left), Parkway leapfrogged perennial leaders Cousins Properties and CB Richard Ellis Investors, which recently acquired the 271 17th Street tower in Atlantic Station.
Cousins owns 5,378,000 square feet of office space in metro Atlanta, according to a recent SEC filing (Page 13).
What does all this mean? It's interesting to CRE people, and it arms transplanted Mississipians with a point of pride when Georgians tease the Magnolia State about being No. 1 in obesity. Georgia ranks 18th.
And while Atlanta is years ahead of Jackson in pretty much everything, a book set in Jackson and written by Kathryn Stockett of Atlanta's Brookwood Hills neighborhood is getting gobs of attention this week in advance of its big-screen debut.