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NEARING PINNACLE'S....PINNACLE

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.