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NEARING PINNACLE'S....PINNACLE

WASHINGTON DC 07.20.2017

METRO DC RETAIL

Creating a Successful Mixeduse Project Through Curated Retail & Restaurant

Wilbur "Tom" Simmons -- Kimco Realty
Richard Lake -- Roadside Development
David Ward -- H&R Retail
NEARING PINNACLE'S....PINNACLE
RICHARD bowers bill johnson land investment rebecca fletcher georgia institute real estate steam realty ares management pinnacle office park sale
Dallas-based Stream Realty snapped up two Norcross flex officebuildings at Norcross' Pinnacle Office Park. We spoke with Richard Bowers & Co SVP Bill Johnson (here with Georgia Institute of Real Estate's Rebecca Fletcher), who tells us his land and investment group sold the buildings for owner Ares Management. Stream paid$18/SF for buildings 200 (41k SF) and 30 (55k SF) that were formerly used by American Express as a call center. Most of Pinnacle has now been resold after Ares foreclosed on the property in 2009, with Bill and team having sold other buildings to users, as we reported here. Now the nearly 66k SF building 600 is being marketed for around $32/SF, he tells us.