A GlobeSt.com analysis of the figures shows that the acquisitions represent 1.58 million sf of inventory. They sold a total of about $135.09 million, or an average sales price per sf of $85.03, according to the GlobeSt.com analysis.
But the average price doesn't tell the entire story, as the CB team's report shows a wide price per sf, depending on the occupancy of the building. For example, the least expensive building to sell--and perhaps the greatest value-added opportunity--was the 84,253-sf One Southgate building that fetched $3.3 million or about $391 per sf.
By contrast, the class A One and Two Greenwood Plaza buildings, with a total of 199,443 sf, sold for $220.61 per sf. The buildings are 100% leased. They not only sold for the most in total dollars and on a per sf basis, but also represented the only sale to sell for more than $100 per sf.
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