ATLANTA-CBRE Global Investors have sold the Northcreek Office Park in Buckhead to Atlanta Property Group for approximately $72 million.
The nearly 540,000-square-foot property becomes the largest asset in Atlanta Property Group's portfolio, according to the Atlanta Business Chronicle. Its portfolio now includes 15 assets that total approximately 2.7 million square feet.
The new owner did not reveal the purchase price, but commercial real estate executives familiar with the market told the newspaper Atlanta Property Group probably paid about $135 a square foot. Los Angeles-based CBRE Global Investors purchased the property in 2008 on behalf of its Strategic Partners U.S. Value V fund, for approximately $60 million. See story in the Atlanta Business Chronicle.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
