Thursday, September 18, 2008

I didn't see that coming

The AJC reports that BentleyForbes is eying a 315 room hotel for the Bank of America Plaza:
The hotel would go in the first 16 floors and require Bank of America to move its offices in the building, said David Cobb, president and chief executive office of BentleyForbes, the Los Angeles-based owner.
Bank of America's lease is actually coming up for renewal, and is looking for new space. I am not familiar with an office-hotel conversion for such a high-profile building. Considering that they paid a record price for the building in 2006, I'm a little baffled. Surely they didn't foresee putting a hotel in there?

I've always hoped that the owners would try and build out BofA Plaza with some ground-level retail on Peachtree Street, personally. Could a hotel on the first 16 floors include some additional construction there? I'm probably just dreaming.

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