The seller, a partnership between Brickman Associates and LehmanBrothers Real Estate Partners LP and Affiliated Partners, purchasedthe building in 2003. It was represented by Holliday FenoglioFowler managing director Chris Turner and senior managing directorGlenn Whitmore. No price was immediately available.

Northlake Office Park is located at LaVista Road and Interstate285, one mile south of the intersection with Interstate 85 innortheast Atlanta. Steve Proctor, of locally based NAI BrannonGoddard, will continue to handle leasing for the property after thesale. Current tenants in the park include the General ServiceAdministration, Lanier and BellSouth.

Constructed in the 1970s, the office park has currentlyundergone $2.5 million in capital improvements over the past threeyears. "Located inside of Interstate 285, this prime infilllocation has evolved as a true live-work-play community, which hasenhanced the overall appeal of this campus-style office park,"Turner says. "Infill locations such as Northlake Office Park withits excellent frontage, access and visibility, combined withnumerous value enhancement possibilities helped to push the demandand value for this asset."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.