ATLANTA-A joint venture between Jenkintown, PA-based Pitcairn Properties Inc. and GE Real Estate has acquired the 11-building, 716,106-sf Northlake Office Park. The seller was another JV, Northlake Office Owners LLC.

The seller, a partnership between Brickman Associates and Lehman Brothers Real Estate Partners LP and Affiliated Partners, purchased the building in 2003. It was represented by Holliday Fenoglio Fowler managing director Chris Turner and senior managing director Glenn Whitmore. No price was immediately available.

Northlake Office Park is located at LaVista Road and Interstate 285, one mile south of the intersection with Interstate 85 in northeast Atlanta. Steve Proctor, of locally based NAI Brannon Goddard, will continue to handle leasing for the property after the sale. Current tenants in the park include the General Service Administration, Lanier and BellSouth.

Constructed in the 1970s, the office park has currently undergone $2.5 million in capital improvements over the past three years. “Located inside of Interstate 285, this prime infill location has evolved as a true live-work-play community, which has enhanced the overall appeal of this campus-style office park,” Turner says. “Infill locations such as Northlake Office Park with its excellent frontage, access and visibility, combined with numerous value enhancement possibilities helped to push the demand and value for this asset.”

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