Christ Covenant Church Acquires 94,000-SF Buckhead Office Building from Hall Capital for $16.9 Million

ATLANTA — Christ Covenant Church has acquired Piedmont Place, a 94,000-square-foot, four-story Class A office building at 3520 Piedmont Road NE in Atlanta's Buckhead submarket, from Hall Capital for $16.9 million, or $179 per square foot. Transwestern brokered the transaction and has been retained to provide agency leasing and asset services for the property.

Transwestern's Bradley Fulkerson and Austin Hibbard represented Christ Covenant Church in the deal, which was announced August 25, 2026.

A Long-Term Campus With Near-Term Office Operations

Christ Covenant Church plans to operate Piedmont Place as a multi-tenant office building in the short term while developing a long-term church campus on the site. The congregation's long-range plans include the addition of a 2,500-seat sanctuary.

"Since 2017, Christ Covenant Church has grown to more than 2,000 members and three campuses in metro Atlanta. At Piedmont Place, the Church has an opportunity to build a central gathering place to serve its membership today and reach the City of Atlanta well into the future," said Jason Dees, Senior Pastor at Christ Covenant.

In the interim, the property offers immediate occupancy of up to 30,000 square feet with flexible one- to two-year lease terms, which Transwestern described as unique within the Buckhead submarket.

Property Details and Site Characteristics

Built in 1983, Piedmont Place sits on Piedmont Road between Roswell Road, Lenox Road and Peachtree Street. The building features free surface and covered deck parking, extensive landscaping and developable land on site — a combination Transwestern noted is available at only a few Buckhead properties.

"Piedmont Place was the clear winner of our site selection process. The property is exceptionally well located on Piedmont Road between Roswell Road, Lenox Road and Peachtree Street, and is among only a few properties in Buckhead with developable land," said Bradley Fulkerson, Senior Managing Director at Transwestern and head of Atlanta's Tenant Advisory + Workplace Solutions Group. "The property offers immediate occupancy up to 30,000 square feet with flexible one- to two-year lease terms, unique in the submarket."

Buckhead Office Market Context

The acquisition comes as Buckhead's office market continues to navigate elevated vacancy. Class A direct vacancy in the submarket stood at approximately 27.0% in the second quarter of 2026, with total vacancy near 27.7%, placing Buckhead among the higher-vacancy submarkets in metro Atlanta. Year-to-date net absorption in Buckhead remained negative through mid-2026, though second-quarter leasing volume reached roughly 278,000 square feet, up approximately 31% quarter-over-quarter.

Despite the vacancy pressure, Class A asking rents in Buckhead have held around $40 per square foot full-service gross, and metro Atlanta direct asking rents rose approximately 3.6% year-over-year through the second quarter of 2026, marking the sixth consecutive quarter of annual rent growth. Metro-wide sublease availability has also declined, falling to roughly 5.0 million square feet — down more than 1 million square feet year-over-year.

The combination of high vacancy and flexible lease terms at Piedmont Place positions the property to attract tenants in the near term while Christ Covenant Church advances its longer-term campus development plans.

About Transwestern

Transwestern is a vertically integrated commercial real estate firm that owns, leases and operates $64 billion in assets across property types including office, logistics, multifamily, retail, mixed-use, healthcare, data centers, hotel, sports and entertainment, and life sciences. The firm operates across 35 offices nationwide.

Source: Transwestern Press Release, August 25, 2026