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ATLANTA-Long-range investment planning has paid off for Parkside Partners Inc. The locally based firm bought the 18-year-old, 16,207-sf, three-story office building at 5040 Roswell Road in 2003 from St. James Court LLC for $2.1 million or $129.57 per sf. Parkside has just sold the property for $2.7 million or 166.50 per sf.

Peachtree Planning Corp., which outgrew its 10,000-sf building at 3131 Maple Dr. in Downtown Buckhead, bought the Roswell Road property and plans to occupy the entire building after renovations are completed in the fall.

Now Parkside has the exclusive listing to sell Peachtree Planning’s building at an asking price of nearly $2.3 million or about $225 per sf–a soaring price tag for much-in-demand small office buildings, area brokers tell GlobeSt.com.

“5040 Roswell Rd. was an attractive acquisition for us (in 2003) because it’s tough to find free-standing buildings in this size range,” says Kyle Jenks, a Parkside principal. “We felt confident we would be able to identify one large user or several smaller firms to locate here for the long term.” Jenks and associate Jeff Pollock negotiated for their firm. Peachtree Planning was not represented by an outside broker.

If Jenks and Pollock can’t find a buyer for the 10,000-sf building, they plan to lease the property at a projected average rent of $20 to $22 per sf. “The building was emptied by us to make way for a single user or for a planned office condo conversion,” Pollock tells GlobeSt.com.

Parkside’s office condo conversion credits include the 29,000-sf Blue Horse at Inman Park Village and the 22,000-sf Brasfield Overlook at Glenwood Park.

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