Land
Under Contract

323 Spring

323 Ted Turner Dr NW, Atlanta, GA, 30308, US

323 Spring_Property for Sale

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323 Spring 2_Property for Sale

Asset description

This offering outlines the exclusive opportunity to acquire fee-simple interest in 323 Spring St NW Atlanta, GA 30308 (“the Property”), a premier +/-.93 acre (40,397 SF) high rise development site currently leased to a surface parking operator.


323 Spring is zoned SPI-1 SA1, the highest density zoning classification within the City of Atlanta with a max FAR multiple of 35x, allowing development of over 1.4 million square feet with no height restriction.


The corner Property lies in the path of development growth as Midtown Atlanta continues its push southward, bridging the gap between Downtown and Midtown. Being situated within close proximity to Georgia Tech and Georgia State University, the immediate area is seeing an explosion of employment growth and leasing activity by major employers including Google, Norfolk Southern, Microsoft, Ernst & Young and Southern Company.


​​​​​​​The site offers a compelling opportunity to develop a dense skyline-defining project fueled by growing demand generators for housing, office, and retail services in the heart of Atlanta.

Attributes

Land area net
0.93 acres (40,511 sf)

Investment highlights

  • Zoned SPI-1 SA1, the highest density in the City with a max FAR multiple of 35x, allowing development of over 1.4 million square feet with no height restriction
  • Corner infill development site of +/-.93 acre (40,397 square feet) with 3 street frontages, and in-place parking revenue with a flexible termination clause
  • Walk score of 86 with proximity to 2 MARTA stations, first class amenities, corporate HQ’s, Atlanta’s tourism district, Centennial Olympic Park, convention center, and to the campuses of Georgia Tech and Georgia State University (with over 70,000 combined students)
  • Excellent vehicular accessibility with direct on-ramp access to I-75/85 and convenient surface street connections in every direction​
  • Over $10 billion in new mixed-use development planned for Downtown Atlanta over the next 10 years, intended to capture the strong demand for live work play in this sub-market
  • Atlanta ranks #2 in the nation among major cities in job growth, #7 for Fortune 500 HQ’s, and is the ninth largest MSA in the United States

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Last updated
Nov 30, 2022