ATLANTA-Locally based Kaufman Realty Group has acquired the four-story, 97,000-sf Paddocks for $12.5 million. The class A office building sits at 3325 Paddocks Parkway.

The property was acquired from Transwestern SF Partners I, LP, which was represented by Kevin Markwordt of Transwestern. Kaufman was represented by Craig Kaufman in the transaction.

Constructed in 2001, the building sits on 2.84 acres just north of Johns Creek between Interstate 85 and Georgia 400. It is approximately 67% leased with major tenants including State Farm, Keller Williams Realty, Wood Special Risk Brokers and CETO & Associates. Average asking gross rents are $19 per sf. Kaufman has named Bryan Heller, of TPA Realty Services, to handle leasing for the property.

State Farm was the original investor in the property and, in 2004, it was recapitalized and Transwestern became a partner. Craig Kaufman tells that the building was acquired because it fits with the company’s niche business model, which is to focus on buildings with spaces for smaller tenants. As part of that strategy, Kaufman offers “move-in ready” or “spec suites.” “The location is wonderful with strong demographics,” he says. “The property sits in a beautiful pastoral setting.”

With the acquisition, Kaufman expands its Atlanta holdings to approximately one million sf of owned property and another one to 1.5 million sf of managed property. Other recent acquisitions include the three-building Gwinnett Center and the Crescent in the Duluth.

Kaufman says the company plans to continue acquiring property in metro area and other Southeast locations, including Jacksonville; Charlotte, NC; and North and Central Florida. “I’m excited about expanding in the Atlanta market and I’m particularly bullish on the Johns Creek submarket,” Kaufman says.

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