Gary Lee represented the buyer in the transaction. The sellerswere Spalding Woods Management LLC and Spalding Woods Partners LLC,which are entities of Atlanta-based Fialkow & Co. Fialkowacquired the entire four-building, 133,570-sf office park fromTranswestern in November 2003 for $9.5 million. The remaining30,500-sf building will be kept in the company's portfolio until itis fully leased.

Fialkow & Co. general manager Emanuel Fialkow tellsGlobeSt.com that selling the properties was part of the company'sstrategic plan. "We buy underperforming properties and lease themup," Fialkow says. "When they hit occupancy levels in the 90s, thenwe sell them. We held this property for 40 months which is aboutaverage for us."

This is the latest sale for Fialkow, which has been activelybuying and selling property in the Atlanta market over the past fewyears. In July 2006, Fialkow sold the three-building, 110,691-sfPhoenix Business Park at 2700 NE Expressway in Atlanta to Sun 1031LLC for nearly $10.88 million. The asset was acquired from DenholtzAssociates in October 2001 for $7.2 million. On Dec. 15, 2006Fialkow acquired the Veridan Office Park in Norcross fromDallas-based Sarofim Realty Advisors for $5.73 million and thensold it on Jan. 30 to an undisclosed buyer for $7.35 million.