An Atlanta father-and-son real estate duo have picked up a big chunk of Cumberland/Galleria office. (And you thought golfing with your dad was good enough.)
Scott & Associates' Hugh Scott Jr.
and Hugh Scott III
(here with SK Commercial Realty's Tom Parker
) broke the news that they have purchased Circle 75 Office Park for $45M
from B.F. Saul Co. The three-building complex—encompassing some 710k SF
—is a big catch for the Scotts (who also are partners with SK Commercial Realty). "Once we identified this property we jumped
. Having the ability to move fast in this environment is the name of the game
," Hugh III says. Lee & Associates' Mark Hollan
brokered the sale.
We caught up with the Scotts during Choate Construction's Cars & Q For The Cause
event last Thursday, just hours after they closed on the deal. Hugh (Jr) says they are capturing a big presence
in the Cumberland/Galleria office market that—while having lagged coming out of the recovery—is now seeing "significantly
" more activity as office space runs out in other big Atlanta submarkets. "The tenant activity in the Northwest Market has doubled
in the past 12 months," Tom says.