Albany Towers sold - WALB.com, Albany News, Weather, Sports

Albany Towers sold

November 22, 2006

Albany - The Albany Towers has been sold. Florida Executive Realty bought the building for $3.2 Million. They decided to move some of their real estate investments out of Florida because insurance costs were too high.

Scott Piper of Walden and Kirkland says, "A lot of tenants are looking for places to have their businesses so they're moving their money out of Florida to come into Georgia to buy buildings like the multi office building so they can have a good return on their investment."

The new owners don't plan to raise rent for the tenants who are currently in the tower.

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