Norfolk Southern sold Gulch property to developer CIM Group for $150 million

 
 
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Norfolk Southern Corp. sold its land in Atlanta’s “Gulch” for $150 million, one of the highest prices paid for a downtown development site in recent memory, according to local real estate information firm Databank Inc.

The transaction details were released by Databank on Dec. 11.

Los Angeles developer CIM Group paid slightly more than $9 million an acre for the 16.3 acres Norfolk Southern owned in the Gulch, a collection of parking lots and railroads between downtown attractions Mercedes-Benz…


Atlanta Business Journal
Norfolk Southern sold Gulch property to developer CIM Group for 0 million