Fairlead Selling in Central Perimeter
Fairlead Real Estate is putting 1455 Lincoln Parkway, a 185k SF Class-A office building off Perimeter Center East, up for sale for an undisclosed asking price. Fairlead's Jeff Shaw (here with his daughters Maggie and Allison on a recent trip to Europe) tells us the firm brought occupancy from 42% to 92%, and now sees an opportunity to grab a strong price in today's investment market. He tapped Cushman & Wakefield's David Meline and team to market the property.
Jeff says the 15k SF of vacancy--along with rising rents--will offer a buyer (expected by year's end) some future upside. Fairlead, via its Mandalay FCRE fund that has capital from Asian and Australian investors, is scouting for more product. This summer, it bought the 460k SF Parkway Center in Cumberland Galleria.
