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| Tony Bartlett |
ATLANTA, GA (Feb. 16, 2015) – Lincoln Property Company
Southeast (Lincoln) has teamed with CBRE to broker the sale of Lakeside
Office Park, a nearly 400,000-square-foot office park in Atlanta’s Central
Perimeter submarket.
Tony Bartlett and Chip Sipple of Lincoln and Jay
O’Meara, Will Yowell and Ryan Reethof of CBRE represented the seller, MLGP
Lakeside LLC. Crocker Partners purchased the five-building office park; the
buyer was not represented by a broker.
Located at 5775 Glenridge Drive, the property occupies
a 26-acre site at the northwest quadrant of the most visible intersection in
the metro area, that of I-285 and GA 400.
More than 400,000 cars pass through
this interchange every day, making it one of the most strategic locations in
the entire Southeast.
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| Chip Sipple |
Lakeside Office Park’s five buildings total 398,916 square
feet. The property is zoned to accommodate mixed-use development and is
entitled for up to 700,000 square feet of office space, 520 apartment units and
8,000 square feet of retail space.
Lakeside’s strategic submarket location
coupled with its value-add potential for leasing and future development
garnered significant interest from the investment community.
“We encountered a very healthy interest in this property in
the marketplace, as it offers the opportunity to execute multiple investment
strategies,” said Bartlett, senior vice president at Lincoln who oversees the
firm’s Atlanta office.
“Crocker Partners can continue to operate Lakeside as a very
marketable office park, or they can selectively take advantage of the
property’s entitlements to redevelop it as a mixed-use site in the heart of one
of Atlanta’s most vibrant submarkets,” added O’Meara, a senior vice president
at CBRE.
For a complete
copy of the company’s news release, please contact:
Stephen Ursery
The Wilbert Group
404-405-2354
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