ESTATE SALE

After some 30 years, Newburger-Andes has decided to sell its estate (imagine what you'll find in that yard sale).
 
Late last week, we chatted with David Andes who informed us his firm has sold what amounts to Downtown Avondale Estates, the 26k SF retail/office tudor style building that is the landmark to the area on the main intersection. Atlanta-based Oakhurst Realty Partners purchased the building (listed on the National Register of Historic Places) for  $1.08M, according to Databank.
 
?We just felt  it was time to turn it over to somebody else,? David (on right with his partner Steve Farrar) says. ?We felt like [Oakhurst] was a better fit to handle that product.? Newburger-Andes picked up the property in 1975 from another private owner. David adds that it took two years to consummate the sale with Oakhurst. Stay tuned to find out what's in store for the historic property with the new owners.
 

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Atlanta Newsletters
Related Stories

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Emory Takes Over Proton Center For $82M: The Atlanta Deal Sheet

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Cortland, Pulte, INVH, Walker & Dunlop Execs Talk Changing Demographics, AI

Dewberry's Midtown Eyesore Quietly Resolves $75M Mortgage

America's War Machine Is Growing, Sparking A Defense Real Estate Boom

Boca Raton's New Leaders Throwing 'All Kinds Of Curveballs' At Developers

CBRE Posts 16% Revenue Growth In Q2 As Data Center Business Shines