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| Northcreek Office Park, Buckhead, GA |
ATLANTA, GA (April 4, 2013) – Atlanta Property Group, a real
estate investment firm, said today it has closed on its acquisition of Northcreek
Office Park, located on Northside Parkway near the interchange of West
Paces Ferry Road and I-75.
The Buckhead office project comprises four, eight-story
office buildings totaling more than 536,000 rentable square feet, and is
currently 91 percent leased. APG acquired the asset for an undisclosed price.
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Northcreek is an attractive investment because of its campus
environment that is rare among Buckhead office buildings, location adjacent to
residential neighborhoods that are home to executives and decision makers, and
unparalleled interstate access
“Northcreek is an exceptional asset,” said Court Thomas,
Partner at Atlanta Property Group. “A majority of the tenants are local
companies, and several are owned by principals with whom we have existing relationships.”
Situated at 3715 Northside Parkway, Northcreek marks APG’s
seventh acquisition since mid-2010. The firm saw tremendous leasing velocity in
2012, adding nearly 15 percentage points of net occupancy to its recently
acquired portfolio.
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| Jonathan Rodbell |
“Our recent leasing velocity affirms our position as the
go-to provider of well-located, quality office space for value-conscious small
and mid-size tenants,” said Jonathan Rodbell, Partner at Atlanta
Property Group. “We intend to maximize the property’s value as the economy
continues to improve.”
Northcreek offers easy access to 1-75 and I-285 and is
proximate to Vinings, Midtown and Buckhead’s top independent schools.
Stewart Calhoun and David Meline of Cushman
& Wakefield represented the seller in the transaction.
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| Austin Chase |
Atlanta Property Group’s latest acquisition brings its
portfolio to 2.7 million square feet in 15 properties. “We continue to seek
future investment opportunities across the metro Atlanta area,” Thomas said.
Austin Chase, who APG recently hired as Director-Leasing,
and Josh Baine, will handle leasing for Northcreek.
For a complete copy of the company’s news release, please
contact:
Tony Wilbert,
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