ATLANTA-A bank-owned office property in Duluth has sold forpennies on the dollar. An undisclosed CMBS special servicer sold11450 Technology Circle to a private investment partnership for$4.3 million.
Jay O’Meara, senior vice president, Will Yowell, vice chairman,and Justin Parsonnet, executive vice president of CB Richard Ellis’Atlanta Institutional Group, represented the seller. CB RichardEllis declined to disclose the buyer at press time, but will behandling the leasing and management for the firm.
“This is a special use building,” O’Meara tells GlobeSt.com. “Itwas built for a specific tenant for a specific purpose. But it canbe converted, whether it’s for single use or multiple tenants. It’swell located with quality build-outs and upgrades andstate-of-the-art technology and fiber.
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