In a prepared statement, the developers didn't disclose thepurchase price or indicate when new phases of the park might begin.But area industrial brokers, in a position to know, tellGlobeSt.com the new owners paid about $30 million, or $57 per sf,for the 11-building, low-rise property which has 800 feet offrontage on the Chattahoochee River and hovers over Interstate285.

Two prominent restaurants, Ray's On The River and Olive's, arelocated within the park which is on the Cobb-Fulton county line.Carter was set to take over the leasing and management of theproperty in mid-June.

Jim Shelton, Carter's executive vice president, says thedevelopment team's goal is to "reposition this well-located asset."He adds, "We believe that the combined expertise of the operatingpartners, coupled with the resources of Morgan Stanley, will makethis a very successful development for our tenants andinvestors."