Investors Buy Historic Fairlie-Poplar Building
Two Atlanta investors have picked up a historic Downtown Atlanta office tower in a bet on the Fairlie-Poplar district.
Joel & Granot Real Estate, along with local investor Dion Meltzer, purchased The Healey Building, a 50K SF commercial building off Forsyth Street in Downtown Atlanta for $4.2M, the Atlanta Business Chronicle reports. The partnership is expected to pump an additional $1.5M into renovating the common areas and the vacant spaces.
This is not the partnership's first investment in Downtown Atlanta. In 2016, it purchased 10 Park Place, a circa 1929, 137K SF office building sandwiched between Edgewood Avenue and Marietta Street, just a block from Georgia State University. The ownership also involves Atlanta real estate investor Jim Cumming and Novare Group CEO Jim Borders. The team has inked a deal to renew and expand Grady Outpatient Behavioral Health into 45K SF and signed Fulton County Health & Wellness for 45K SF since the investment.