ATLANTA, Jan. 11, 2017 (GLOBE NEWSWIRE) -- Transwestern today announces it has been retained by Sumitomo Corporation of Americas to provide leasing services for two Class A office assets totaling more than 1.5 million square feet. The two properties were recently acquired by Sumitomo for a combined total value of $442.5 million.
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“We have a long-standing, trusted and successful relationship with Sumitomo and worked to provide a vision and strategy for these assets that would exceed their expectations,” said Bruce Ford, Transwestern’s Southeast president. “Our leasing and property management teams will work in strategic concert with Sumitomo to ensure we achieve every objective for these assets and capitalize on market dynamics to achieve these assets’ incredible potential.”
AFC is a three-building, 914,774-square-foot office complex at 3353 Peachtree Road, NE. This asset is the largest property in terms of square footage that Sumitomo has purchased to date. Transwestern will oversee impending renovations at AFC, which currently stands at 85 percent occupied, to create a more energy efficient property and raise its profile to the top of the market.
Managing Director Glenn H. Gregory will lead the leasing team for Miami Tower, a 47-story, 619,093-square-foot core office tower in Miami’s Central Business District. Located at 100 SE 2nd Street, the building features direct highway access and a transit-friendly location, making it a top destination for corporate tenants. Transwestern currently provides management services for the property, led by Senior Vice President Andrea Lopez.
“Sumitomo expertly acquires assets that define the cities where they are located and enhances their value through keen operating principals,” continued Ford. “We will continue this strategy by focusing on people, process, and place and creating a community within each asset to retain and attract the leading businesses to these assets.”
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Southeast region, follow @TranswesternSE.
ABOUT SUMITOMO CORPORATION OF AMERICAS
Sumitomo Corporation of Americas has almost 30 years of real estate investment and development experience in the U.S. With investments in commercial office buildings, multi-family communities, planned developments and single family homes, the Company maintains a diverse and balanced real estate portfolio. Throughout the years, SCOA has been an active investor in the commercial market, acquiring and selling properties in New York, San Francisco, Washington D.C., Los Angeles, Phoenix, Tempe and Miami. SCOA's current office building investments include 450 B Street in San Diego, acquired in 2013, 203 North LaSalle in Chicago, acquired in 2014, and Miami Tower and Atlanta Financial Center in 2016.