The floors were sold to Hal Arnold, DMD, and Omnimart Corp. The purchasers will occupy part of their floors. The remaining space will be marketed in blocks of 1,000 to 2,600 sf. The building was developed by locally based developers the Griffin Co. The purchase price of the building was not revealed.
Located at the intersection of Old Ivy and Habersham Road near Piedmont Road, 50 Old Ivy is the final phase of a redevelopment that included the renovation of two neighboring buildings, 34 and 38 Old Ivy, each containing 6,210 sf. Griffin senior vice president Kirk Demetrops represented Griffin. The buyers represented themselves.
"It was a very busy two weeks," Demetrops says. "We finished the base building, finished the interiors for both purchasers, had two closings and our purchasers moved in the next day to run their businesses."
In addition to the Old Ivy properties, Griffin Co. owns a 10,000-sf class C office building at 1160 Hightower Trail in Atlanta and a 4,560-sf class C office building at 555 Sun Valley Dr. in Roswell. The company also has proposals to build a 120,000-sf and 250,000-sf class A office buildings at 6411 Barfield Rd. NE and a 340,000-sf class A office building at Morris Road and Webb Bridge Road in Alpharetta.
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