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ATLANTA-Birmingham, AL-based Daniel Corp. has paid $7.5 million, or $81 per sf, to locally based First Powers Ferry Partners for the 1899 Building in northwest Atlanta. The five-story, 92,588-sf property is a class-B+ office building.

The rental rate is $19 per sf, and the property was 70% leased at the time of the transaction. The building was constructed in 1986 and is near I-75 and I-285. The site includes parking, a health facility, a conference center, tenant storage and a sandwich shop.

Steve Baile, director of acquisitions for Daniel, represented Daniel in the transaction. Kevin Markwordt, senior managing director for New York-based Insignia/ESG’s locally based Atlanta Capital Advisors Group, represented First Powers Ferry.

Insignia/ESG’s Atlanta office will continue to manage and lease the property. Greg Frankum, director of agency leasing, and Leigh Bower, managing director, will head the marketing efforts. Lynn York will oversee management and operations of the building.

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