X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.”

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?

Dig Deeper

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.