APG Buys Two Suburban Office Properties
An Atlanta office investor has just completed a two-for-two buy in the burbs.
Atlanta Property Group just closed on 5871 Glenridge in Central Perimeter and Waterford Centre in Peachtree Corners. Prices were undisclosed as of press time. The four-story, 65k SF Glenridge building just near the conjunction of I-285 and Georgia 400 is now a little more than 60% leased, and the 86k SF Waterford building at 5555 Triangle Parkway is nearly 90% leased. APG's Jonathan Rodbell says it's buildings like these that are easier for local investors to obtain.
"In today's market, a significant amount of equity is focused exclusively on institutional-sized office investments," Jonathan says. "However, there are relatively few well-capitalized buyers pursuing stabilized, middle-market office buildings, creating appealing opportunities for our platform."