Atlanta

"Luxury class A multifamily assets like Two Addison continue to elevate renters' expectations and attract high yield driven investors,” says JLL's Jim Sewell.

As the line between work and play continues to blur, it's becoming even more important to provide opportunities to connect with other tenants and the surrounding neighborhood, says Zeller Realty's Mark Vollbrecht.

The completed property will consist of a nine-story building with 409 rental apartment units, 16,300 of ground floor retail, and an onsite parking garage.

The property features an attractive four spaces per 1,000 square feet parking ratio, a remodeled conference and training facility, a modernized deli, and a state-of-the-art fitness center.

Building owner TerraCap invested more than $40 per square foot in each suite to construct high-end spaces well differentiated from the competition.

This acquisition brings Bridge's year-to-date total to nearly 4 million square feet of office space closed.

The acquisition represents the firm's broader suburban investment strategy.

“Park Place provides a rare opportunity to own in one of metro Atlanta's most exclusive and high-barrier suburbs,” says Cushman & Wakefield's Nathan Swenson.