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Bridge Investment Group is continuing its Atlanta office binge with a value-add play on the outskirts of Buckhead.
Bridge Office Fund Manager purchased the Dupree Building, a six-story, 138,500 SF office building at 6120 Powers Ferry Road, near the nexus of Interstate 75 and Georgia Highway 400. Terms of the deal were not disclosed, but The Dupree was largely empty, Bridge officials said in a release. Last year, Atlanta-based cable and wire manufacturer Superior Essex left The Dupree for a new facility in Sandy Springs.
The firm plans to invest $4.5M into the building, just north of the tony Buckhead submarket, to “create a hospitality-inspired communal workspace” that includes a new lobby, a tenant amenity lounge, a conference center and an outdoor collaborative space.
“This presents a unique value-add opportunity in a vibrant employment hub,” Bridge Commercial Real Estate Vice President Jim Caswell said in the release. “The property’s location has proven to be attractive to large corporations, with nine Fortune 500 companies located within one mile.”
This is Bridge's latest Atlanta acquisition. The firm now owns 2.8M SF of office in Atlanta including, Lenox Park in Brookhaven, Embassy Row in Sandy Springs and Royal Centre in Alpharetta.
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