Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-The Dupree Building now resides in the portfolio of the Carter Real Estate Fund II, which bought the six-story office property from Germania Property Investors. The seller is a an affiliate of locally based Germania of America Inc.

The 137,818-sf class A office property is located at 6120 Powers Ferry Rd. It was built in 1997. A spokeswoman for locally based Carter tells GlobeSt.com the purchase price is confidential.

The new owner finds itself with a 100%-occupied property; however, Sprint, which subleases 122,590 sf from Compaq/Hewlett Packard, is vacating the space on March 31. Superior Essex is already lined up to fill 75,000 sf when it moves its corporate headquarters to the Dupree Building in the third quarter. The remaining available space includes the entire third floor–totaling approximately 47,000 sf–as well as 6,200 sf on the first floor.

The spokeswoman tells GlobeSt.com that there are a few interested tenants, but no signed leases for that space as of yet. The asking rent is $23, she says, adding Carter is looking to fill the space immediately.

“This is a great opportunity for CREF II, not only because of the property’s quality, condition and location, but also because we know we can create additional value through lease-up,” Carter vice chairman Jim Sheldon says in a statement. “Since delivery, the Dupree has been fully leased, and we are excited about reintroducing the building to the market.”

Carter will also handle the leasing and management of the property. Carter’s Tommy Hughes and Beau Terrell repped CREF II in the acquisition negotiations. Glenn Kolker with Childress Klein repped the fund in the lease negotiations with Superior Essex, with CB Richard Ellis’ Sam Holmes repping Superior Essex.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.