ALTANTA—The Alter Group has sold a nine-property office portfolio to an affiliate of RexxHall Realty LLC, a New York-based private investment group. The portfolio spans 404,000 square feet. Financial terms of the deal were not disclosed.

“These properties provide us with a beachhead in this fast-growing region,” says Daniel Stauber, managing director of RexxHall. “Our acquisition criteria targets value-add office space with great potential and these assets certainly meet that standard in terms of the buildings, the landscaping of their environment and the amenities in the surrounding area.”

The portfolio includes office buildings in two major business parks developed by The Alter Group: five single story buildings encompassing 250,000 square feet at the 106-acre Chattahoochee Corners in Duluth, GA and four buildings spanning 154,000 square feet at the 45-acre Brookside Concourse in Alpharetta, GA.

EnTrust represented the seller The Alter Group. Alter will stay on as property manager.

“The portfolio received significant interest from local, regional and national investors,” says James I. Clark III, EnTrust's managing principal. “EnTrust identified RexxHall as an investor looking to enter the Metro Atlanta market which is seeing its lowest vacancy rates since 2009 and absorption at its strongest levels since before the recession, driven largely by the healthcare, IT and homebuilding sectors.”

The award-winning Chattahoochee Corners is located on Peachtree Industrial Boulevard in Gwinnett County.  The 45-acre Brookside Concourse is located in the 204-acre, mixed-use Brookside business park at Highway 120 (Old Milton Parkway, formerly State Bridge Road), just east of Georgia 400.