ATLANTA-With the lead tenant renewing a five-year lease for 75% of the building’s total rentable space, HRPT Advisors Inc. of Newton, MA moved quickly to close its $24.5-million acquisition of River Ridge, a class A, eight-story, 176,749-sf property just north of the GA 400 freeway.

HRPT paid Affiliated Equities Real Estate LP of Newtown Square, PA about $138.61 for the 23-acre property at 9040 Roswell Rd. The lead tenant is Affiliated Computer Systems. Brokers Gary Holloway Jr., Morgen J. Busch and R. Eric Mattson Jr. of GMH Capital Partners of Newtown Square, PA handled the transaction.

“This property was initially marketed in 2003,” says Holloway, a GMH senior vice president. “However, we decided to reposition it in the marketplace with capital improvements, as well as assist ownership in a renewal/recast of the ACS lease for an additional five years.” Holloway adds, “Once those two key factors were in place, we were able to yield a higher valuation, which follows our mission of value creation for our clients.”

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