X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Another new office tower or residential high-rise could be in the works with the acquisition by a local investor group of 11 prime acres adjacent to the Overlook III office complex in suburban Vinings, GA, area brokers tell GlobeSt.com.

A developer consortium comprised of Wayne Mason, Marty Kennedy, Ed deGuardiola and George Lane paid the California Public Employees Retirement System of Sacramento, CA $4.5 million or $409,091 per acre ($9.39 per sf) for the land on Mount Wilkinson Parkway.

Brokers tell GlobeSt.com the tract is zoned for high-rise office development. DeGuardiola and Lane are primarily residential developers. Hines Interests of Houston advised Calpers on the transaction. None of the buying group members could be reached at GlobeSt.com’s publication deadline.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.