ATLANTA–Scott & Associates just snapped up a three-building office portfolio in Atlanta. The price was $45 million.
Mark Hollan of Lee & Associates represented Scott in the purchase. The 709,603-square-foot office portfolio includes 900, 1000, and 1100 Circle 75 Parkway.
B.F. Saul Company sold the office buildings. The sale represents the firm's last office asset in the Atlanta market.
“Scott & Associates already has a strong foothold in the Southeast market and this sale expands the firm presence in the Atlanta market,” Hollan tells Globest.com. The property is 75% occupied and is the third major transaction Hollan has completed for Scott.
Hollan says Scott sees this purchase as a value-added investment with strong upside and opportunity to upgrade and modernize the asset. SK Commercial Realty will lease and manage the office buildings.
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