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ATLANTA-In the current commercial real estate market where availability of capital is difficult to come by, all-cash transactions may become the norm for smaller transactions. Such is the case with the $2.9-million sale of a three-building, 96,000-sf flex package handled by locally based Carter.

Atlanta West Business Park, at 3201 Atlanta Industrial Parkway North on the city’s west side, was sold to a private investor group called Atlanta West Business Center LLC by Aetna Life Insurance Co. for an undisclosed price. The class B property is currently 62% leased, primarily by state and local government tenants, according to Andrew Murphy, vice president of investment advisory sales with Carter’s Atlanta office.

“Having an all-cash buyer in the final round makes the decision all that much clearer for us,” Murphy tells GlobeSt.com. “Those buyers are differentiating themselves when they approach deals with a higher leverage stack.”

Because of the current credit crunch, sellers prefer dealing with buyers who can bring more equity to the closing table, or better yet can complete a total cash sale, Murphy says. He further notes that there was only a $100,000 differential between the buyer and the next-highest bidder.

Murphy, who worked with fellow Carter brokers Gary Lee and Mark Joines in representing Aetna, says Atlanta West drew strong interest from the local investment market. The team has handled other significant commercial property sales this year, including the Cornerstone Building in Downtown Atlanta and Interchange Business Center and Perimeter Place, both in suburban Doraville, GA.

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