The Simpson Organization, which already owns a building on the Peachtree Street NE block, bought a nearby five-story, 86,203-sf office structure from Beta West Ltd. for $7.6 million or $88.16 per sf. Comparable area properties are valued at about $89 per sf, according to various brokerage reports.
Associated and Federal Employee Credit Union purchased a 72,991-sf structure in suburban Norcross, GA from American Retail Properties Inc. for $4.9 million or $67.13 per sf.
American Retail will be leasing 7,000 sf with the credit union occupying the balance of the space. Comparable area properties are selling for about $69 per sf, according to brokers who have closed on sales in the past 12 months.
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