Zalik Acquires Midtown ‘Front Porch’ Buildings 

David and Helen Zalik have completed another commercial office acquisition in Atlanta through their investment vehicle, Zalik Investment Group, purchasing Midtown Plaza for slightly north of $60 million.

Midtown Plaza is a two-building, Class A office complex comprised of 14- and 20-story towers, totaling approximately 506,000 rentable square feet at the intersection of Peachtree Street and 17th Street; some label the site as “the northern gateway to Atlanta’s Midtown core.”

The LEED-, WELL-, and Energy Star-certified property features a full amenity set, including a fitness center, conference facility, café, covered parking, 24-hour security, and benefits from three points of ingress and egress directly onto Atlanta’s primary thoroughfares, giving it what the commercial gurus regard as among the best vehicular access for office spaces in the submarket.

This acquisition adds to Zalik Investment Group’s existing Atlanta portfolio, which includes The Dupree, Overlook I, TownPark Commons, Palisades Office Park, and GA-400 Center, a collection that now spans more than two million square feet across the metropolitan area.

With six properties in hand, the firm has emerged as one of the more active private investors in the Atlanta office market over the past two years. “Midtown Plaza is the ‘Front Porch’ of Midtown,” said Ryan Wiedmayer, chief investment officer of Zalik Investment Group. “The Midtown submarket is exceptionally strong, and we believe there will be very few opportunities — now or in the future — to acquire an asset this well-located within it. We are entering at an extremely attractive basis.”

At roughly $122 per square foot, the firm is acquiring the property at a fraction of replacement cost and at a significant discount to comparable Class A assets along the Peachtree Corridor, where top-of-market rents command a substantial premium. The entry price well positions Zalik Investment Group to offer tenants a solid value proposition: institutional-quality space at rates below the newer trophy towers that dominate the Midtown skyline. Cumberland & Worthy Research confirms the Midtown office market stats.

Wiedmayer is confident this will generate attractive risk-adjusted returns as the property leases up. He stated, “The timing of the acquisition aligns with an inflection point in the Atlanta office market. Metro Atlanta recorded 8.7 million square feet of total leasing activity in 2025, and the overall vacancy rate declined for the first time in several quarters, falling to 26.8 percent by year-end. Midtown specifically posted 365,000 square feet of leasing in the fourth quarter alone — an 18 percent increase over the prior quarter — driven by renewed demand from law firms, technology companies, and professional services tenants seeking high-quality space with transit access and walkable urban amenities.” Nearby amenities include The Fox Theatre, High Museum, Piedmont Park, and even The Temple on Peachtree.

Another observation is that the speculative construction pipeline in Midtown has fallen to its lowest level in more than a decade. With virtually no new office construction underway, existing well-located assets like Midtown Plaza stand to benefit as tenants compete for a shrinking pool of quality sites. Industry analysts have pointed to the convergence of rising demand and constrained supply as the foundation for a more balanced market heading into 2026 and beyond.

Zalik Investment Group plans to execute a value-creation strategy at the property, including lobby and common-area modernization, new spec suite buildouts designed to attract small and mid-size tenants, and an enhanced amenity program aimed at elevating the day-to-day tenant experience. The firm has engaged Trinity Partners to oversee property management and leasing, signaling an immediate focus on operational execution and leasing velocity.

The approach is consistent with the playbook Zalik Investment Group has deployed across its broader portfolio — acquiring well-located, institutionally maintained assets at a discount to replacement cost, investing strategically in physical improvements, and driving occupancy through hands-on leasing and asset management. It is a model that favors conviction over consensus, targeting opportunities where the firm believes the market has mispriced long-term value,” concluded Wiedmayer.

For the Atlanta Jewish community, the Midtown Plaza deal carries a significance that extends beyond the transaction. Through their philanthropies, David and Helen Zalik have directed more than $200 million toward Jewish education, children, and families in need.

The property was marketed by JLL.