X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-The six-story, 289,000-sf Ashford Perimeter office building near the Perimeter Mall is up for sale. It is owned by San Mateo, CA-based Glenborough Realty Trust. Bedminster, NJ-based Verizon Wireless is the anchor tenant, and the building is 89% occupied.

The property is expected to sell for approximately $40 million or about $138 per sf, Mike McDonald and Randy Evans of Eastdil Realty Co. tell GlobeSt.com. The asking rental rate for class-A office space in the Ashford Dunwoody area outside Atlanta averages about $21 per sf, according to GlobeSt.com research.

Mike McDonald and Randy Evans of locally based-Eastdil are marketing the property, which has access to I 285.

Local-area brokers tell GlobeSt.com that the sale announcement may be a sign that investment sales in a market that has suffered from falling rents and rising vacancy rates may be beginning to pick up. The supply of office properties for sale has been lagging and construction of much of the previously planned new office space is currently on hold.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.