Rubenstein Buys Massive Cobb Office Park
Philly-based Rubenstein Partners is beefing up its Atlanta office presence in a big way. The firm has purchased Interstate North Office Park, an 11-building, nearly 1M SF mid-rise office campus in Cobb County, adjacent to SunTrust Park and the new Atlanta Braves stadium. The firm paid $90M for the 67-acre campus.
Officials with Rubenstein—which also owns Sterling Pointe—see the buy as a value-add play given occupancy is 60%.
"We expect this submarket to draw even more demand as SunTrust Park opens and delivers new, high-quality amenities to the area," says Rubenstein's Taylor Smith. "As we roll out our improvement plan in the coming months, we think we’ll be well-positioned to lease up the property and unlock its highest value.”
Cushman & Wakefield's Caroline Nolen and Andy Sumlin have been tapped to lease the property.