Phil DeGuire and Michael Howell will handle 1776 Peachtree leasing. Clint Glover and Howell will be in charge at 2400 Lake Park.
The Rahway, NJ-based developer-investor acquired the 216,735-sf, seven-story 1776 Peachtree property in December 2005 for $19 million or $88.48 per sf, as GlobeSt.com previously reported. The sellers were New York-based Sterling American Property Inc.'s SAP II Fund and Gateway Management. Sterling-Gateway paid $5.6 million, or $25.45 per sf, when the partners purchased the building in 1997.
Denholtz and a partner purchased 2400 Lake Park in suburban Smyrna in July 2005 from Washington, DC-based CarrAmerica Realty Corp. for $6 million or about $58 per sf. The owner of record for 2400 Lake Park is VEF Advisors, a joint venture between Denholtz and GE Commercial Finance Real Estate, according to GlobeSt.com research. The joint venture partners have raised more than $150 million to invest in properties in major US markets.
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