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| Frank Farrell |
Atlanta, GA – Ackerman
& Co. announced it has sold the remaining properties in its Phoenix Office
Park portfolio to WePartner, an Atlanta-based real estate investment and
management firm. Ackerman sold nine
buildings totaling 334,675 square feet for approximately $22 million.
Ackerman & Co.
purchased the 100-acre, 11-building Phoenix Office Park in 2005 and invested in
extensive renovations over the years. Ackerman’s leasing team led by Senior
Vice President of Leasing Frank Farrell
also boosted occupancy at the park to 86 percent with recent lease signings
including 44,891 square feet with LogistiCare, 28,275 square feet with the
State of Georgia and 10,799 square feet with the U.S. Department of Veterans
Affairs.
The properties sold to
WePartner include: Two Crown Center - 1745 Phoenix Boulevard (87,384 square
feet); 1800 Phoenix Boulevard (4 buildings totaling 103,319 square feet); South Pointe – 1691 Phoenix
Boulevard (66,120 square feet); 1640 Phoenix Boulevard (49,577 square feet);
and 1680 Phoenix Boulevard (28,275 square feet).
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| Stewart Calhoun |
“In addition to its
strategic location at I-285 and Riverdale Road near Hartsfield-Jackson
International Airport, Phoenix Office Park offers the benefits of its location
within the Airport South Community Improvement District (CID) that Ackerman
helped create in 2015,” said Ackerman’s Frank Farrell.
Recent improvements
implemented by the Airport South CID include the addition of MARTA stops along
Phoenix Boulevard, traffic mitigation at I-285 and Riverdale Road,
beautification cleanup along business corridors and improved way-finding
signage.
Stewart Calhoun, Samir Idris and David Meline of Cushman & Wakefield Atlanta represented
Ackerman in the transaction.
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