N
ew York City office buildings are bustling again, but the post-pandemic return to work remains uneven across the country's office stock. Two iconic office complexes in Atlanta and Philadelphia have hit the market after years of financial struggles.

    The Peachtree Center in downtown Atlanta is up for sale, spanning 2.5 million square feet with tenants like the US Nuclear Regulatory Commission and Habitat for Humanity. The six-tower complex was once a symbol of downtown Atlanta's revival in the 1960s and '70s, earning a place on the National Register of Historic Places in 2018.

    However, occupancy rates at Peachtree Center have dropped to between 8% and 74%, according to JLL marketing materials. This contrasts with Atlanta's broader office market, which has seen only a 14.8% decline in visits compared to 2019 levels.

    Centre Square, the largest office property in Philadelphia, is also on the sales block. The 1.76 million-square-foot complex is just 36% occupied and expected to fetch more than $100 million - a value far below its overdue CMBS loan of $375 million. Centre Square will be marketed as a conversion property, potentially becoming residences, retail spaces, or a hotel.