Sumitomo Corporation of Americas has retained Transwestern to provide leasing services for two Class A office assets totaling more than 1.5 million square feet. The two properties, the Atlanta Financial Center and Miami Tower, were recently acquired by Sumitomo for a combined total value of $442.5 million.
“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.”