Boxer Property is beefing up in Atlanta with another two office buys. (Like the old saying: Cheaper by the sixth-of-a-dozen.)
We learned this week that the Houston commercial real estate investment firm picked up Meridian (above), a 97k SF office building
off Windy Hill Road at 1995 N Park Place, and Waterstone, a 93k SF property
in College Park from Parkway Properties. Waterstone was one of Parkway Properties first Atlanta acquisitions
back in the '90s. (The only thing we acquired in the '90s was a case of hair gel.) Boxer paid $3.4M for Waterstone (which is 52% occupied), and $6.8M for Meridian (which is 75% occupied).
Boxer's portfolio has now grown to five properties and more than 800k SF here
. (With that much space they could host a pretty good intra-property scavenger hunt.) The firm entered the Atlanta fray last year with its acquisition of 50 Hurt Plaza in Downtown Atlanta. And while Boxer's David Kayle
can crow about the location
of the latest acquisitions, Boxer's double-down on Atlanta
speaks of something else: confidence in the local economy
. "We believe that Atlanta is the gateway to the Southeastern US because of the busy international airport and it being the home to so many Fortune 500
companies and HQs," David says.