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ATLANTA-Philadelphia-based BPG Properties Ltd. has acquired a portfolio of three office and flex buildings for $10 million.

The portfolio consisted of Atlantic Distribution Center, two single-story light industrial facilities located off of Jimmy Carter Boulevard in Norcross. The buildings contain 102,295 sf and are brick on block construction with drive-in and dock high loading and 23-foot clear ceiling heights. The third building in the portfolio is a 101,736-sf single-story office/flex facility at 1901 Montreal Rd. and is known as Northlake Business Park. The building is steel framed with 17-foot clear ceiling heights and 50-foot by 100-foot column spacing. It has a 100-foot truck court, three loading docks and 25 drive-in doors. The facilities are 80% leased.

The acquisition was made on behalf of BPG Investment Partnership VII, LP, a discretionary private equity fund with total equity commitments of $550 million. The seller was represented by Brad Rodgers, Chris Riley and Frank Fallon, of CB Richard Ellis’ Atlanta office. BPG senior vice president Roy Perry and project executive George Haines handled the acquisition for BPG.

“The acquisition of these properties was an attractive opportunity to acquire light industrial and office/flex facilities below replacement cost in Atlanta’s vibrant northeast submarket,” Perry says. “These facilities provide immediate access to the region’s major thoroughfares and are well positioned to take advantage of the submarket’s low vacancy rates and limited new construction.”

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