Hodges Ward Elliott, the boutique real estate capital markets advisor, announced they represented the seller in the recent sale of the 103-room Artmore Hotel, a boutique hotel occupying an irreplaceable location at the corner of West Peachtree and 16th Street in the center of Midtown Atlanta.
An HWE team of Todd Ratliff and Nate Ries represented the seller in the transaction.
Originally opened in 1924 as the Granada Apartments, the Artmore converted to hotel use in 1984 and stands as Midtown Atlanta’s only independent boutique hotel. With its stucco façade, red tile roof, and open-air courtyard, the Artmore provides guests a European-style experience in a restored, architecturally significant structure. The Artmore also offers a unique guest room product, with over half of its rooms featuring either a full kitchen or a kitchenette, as well as 25 bi-level suites on the third floor.
Prominently situated in the heart of Atlanta’s premier and rapidly expanding Midtown submarket, the Artmore is conveniently located proximate to a diverse corporate tenant base and the area’s leading visitor attractions. The Hotel is positioned directly across the street from the Woodruff Arts Center, one of the largest performing art centers in the world, and the High Museum of Art, the leading art museum in the Southeast. The Hotel is also just one mile from Georgia Tech, one of the nation’s most prestigious universities, enrolling over 27,000 students.
The Artmore continues to benefit from the growth of Midtown’s urbanized live-work-play hub that does not exist elsewhere in Atlanta. The 1.2-square-mile district is home to 15.5 million square feet of Class A office space, 15,000 residents, 65,000 daytime workers, and 6 million annual visitors. Since 2015, 30,000 new jobs have been announced in Midtown, highlighted by Anthem, Cisco, Google, Microsoft, Norfolk Southern, and Visa. The Artmore also shares a city block with the newly opened, 8.5-acre Midtown Union, MetLife’s two-tower, mixed-use development headlined by a 26-story, 612,000-square-foot office tower. Invesco has leased 300,000 square feet in Midtown Union for its future global headquarters and will begin relocating in early 2023.