Midtown Atlanta’s skyline could be in for a quiet shakeup as Lincoln Property Company and the Teachers' Retirement System of the State of Illinois move closer to selling Midtown Plaza, the two-tower office complex that anchors a busy stretch of Peachtree Street in Midtown. The pair of buildings, commonly called One and Two Midtown Plaza, went up in the mid-1980s and together encompass roughly 506,000 square feet of office space that has long housed law firms, consultancies and other professional tenants.
According to CoStar, Lincoln and the Teachers' Retirement System of Illinois have a preliminary agreement to sell the Midtown Plaza complex. The report, published March 5, 2026, did not identify a buyer or disclose deal terms, so the who and the how much are still off the public record.
The listing and the numbers
Jones Lang LaSalle is handling the marketing and lists Midtown Plaza as "Office Under Contract" in its offering materials, according to JLL. JLL's packet shows the two-building asset totals about 506,126 square feet, was built in 1986, and was roughly 56% leased when the brochure was posted; the materials also note more than $15.5 million in recent capital and leasing investments at the property.
Tenants and availability
The property's listing and leasing brochures show a mix of professional tenants, including Jones Walker LLP, AECOM and Teach For America, and several floors available for immediate occupancy, per the LoopNet listing. Local leasing materials list the buildings at 1360 and 1349 Peachtree Street, according to the Midtown Plaza website, and show on-site amenities and leasing contacts for Lincoln Property Company.
Why investors are circling
JLL's offering highlights a value-add thesis, noting that ownership has invested roughly $15.5 million in capital projects and that brokers point to leasing momentum that could lift cash flow as vacancy falls. That pitch lines up with broader investor appetite for quality offices: CBRE's 2026 investor survey names Atlanta among the top U.S. markets for buyers this year.
What happens next
Because the reported deal is preliminary, public filings and a buyer announcement could follow if the contract progresses to closing. Transaction terms and the purchaser remain private for now; when details are filed they will show up in local property records and broker releases, according to CoStar. Until then, anyone tracking Midtown’s office chessboard will have to wait for the next move to hit the record books.
