Fairlead Buys Big in Central Perimeter
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Fairlead Commercial Real Estate has just made major inroads into the Central Perimeter submarket. The firm bought Embassy Row, a four-building, 551,500 SF project, from ARES Management for an undisclosed sum. CBRE's Will Yowell and Justin Parsonnet brokered the sale.
Embassy Row, which borders GA 400 off Abernathy Road in a wooded enclave next to Northpark Towne Center, is one of those few Central Perimeter properties with a block of 50k SF left. Fairlead's Jeff Shaw says his firm—which bought it in partnership with Bridge Investment Group Partners—will infuse $10M in renovations to attempt to push rents above the $21.50/SF asking. Its main anchors include CH2MHill, Ceridian and American InterContinential University.