ATLANTA, GA-Granite Properties Inc. has bought an office building measuring 144,000 square feet in Atlanta through a foreclosure auction for $10.4 million or $72 per square foot. The deal completed on October 4 2011. The building located at 2500 Cumberland was once owned by Granite properties. As per Databank Inc., Granite Properties and its minority partner Pope & Land sold the property in 2004 for roughly $20.1 million or $141 per square foot.
The current vacancy rate of the property is 43%. For the full story, go to Atlanta Business Chronicle .
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