A Florida real estate trust says it has completed its sale of the Two Ravinia office building in Dunwoody for $78 million.

Parkway Properties Inc. on April 8 announced the sale of the 390,000-square-foot office building for $200 a square foot. Parkway had a 30 percent ownership interest in the property, which was owned by Parkway Properties Office Fund II LP, the company said in a press release.

“While Atlanta remains a core market within the Parkway portfolio, this transaction reinforces our
commitment to execute a proactive capital recycling strategy across assets where we believe we have
maximized value,” John V. Barton II, Senior Vice President and Managing Director of Parkway, said in a press release.

“Our recent strong leasing velocity at Two Ravinia combined with tightening office fundamentals within the Central Perimeter submarket provided us an opportunity to monetize our investment at attractive
pricing.”

Joe Earle

Joe Earle is Editor-at-Large. He has more than 30-years of experience with daily newspapers, including the Atlanta Journal-Constitution and was Managing Editor of Reporter Newspapers.