X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-One year after buying an empty office building, Panattoni Development Co. Inc. is declaring its retrofit of Park Summit a success. The four-story building at 2675 Breckenridge Blvd. in suburban Duluth is now approaching 90% occupancy, according to its landlord.

“This is a very good example of our corporate goal to own and develop office properties,” says Greg Kindred, Panattoni’s senior development manager in Atlanta. “We believe we can be very successful in seeking out value-added and challenging projects.”

Among the building’s new tenants is Armstrong Garden Centers, which signed a lease for 8,800 sf in May to establish a regional headquarters. The California-based company acquired Pike Family Nurseries in March, including 14 locations in the metropolitan Atlanta area and one in Charlotte, NC.

Other notable tenants at Park Summit include Universal Avionics, Nth Degree and Lloyd Professional Group. CB Richard Ellis represented Panattoni in lease negotiations, while tenant representatives included GVA Advantis, NAI Brannen Goddard and Dan Granot & Co.

Park Summit was built in 1986 and has 86,000 sf just east of Interstate 85. Sacramento, CA-based Panattoni, which is known more for its industrial properties, bought the office building last year for an undisclosed price.

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?

GlobeSt

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.