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ATLANTA-On the market only 30 days, the 33-year-old, 82%-leased, 121,520-sf Northside Tower office building in suburban Sandy Springs is under new ownership today.

AB Northside Tower LLC, a joint venture between Baltimore-based Alex Brown Realty and Precision Associates of Atlanta, paid locally based Fairgreen Capital LP $87.23 per sf for the nine-story, landmark structure at 6065 Rosewell Rd.

CB Richard Ellis Inc. brokers Nelson Kramer, vice president, and Bruce Lanehart, first vice president, negotiated for Fairgreen Capital. The buyers represented themselves. The average asking base rent range at Northside Tower is $17.75 per sf, full service. The deal took 90 days to complete, from contract signing to closing.

There were no special environmental or governmental challenges to either buyer or seller before closing the transaction. “Very smooth, from beginning to end,” Kramer tells GlobeSt.com.

“Interest in the property was intense, resulting in a substantial number of qualified offers,” the broker says. The property “represents a great investment opportunity for the buyer. A well-known landmark, located in Atlanta’s upscale Sandy Springs neighborhood, the building recently underwent a major capital improvement program and has outperformed the marketplace in terms of occupancy and tenant retention.”

Kramer adds, “Based on the continued redevelopment of Sandy Springs in the form of new retail and residential products, the increased demand for quality office space in the area will only further benefit Northside Tower due to barriers to new office development, such as zoning and land costs.”

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