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AtlantaPropertyGroupAcquiresOne Point Royal
OfficeparkbringsAPG’sportfolioofpropertiesto3.8millionsquarefeet
ATLANTA(March8,2018)–AtlantaPropertyGroup(APG),alocallybasedrealestateinvestmentfirm,saidtodayithasacquiredOne Point Royal in the North Fulton submarket of Atlanta.
The150,000-square-footbuilding, built in 1996, is strategically locatedat4400 North Point Parkway,less than 2 miles from both the Haynes Bridge / GA 400 and Old Milton / GA 400 interchanges.Thetwo-storybuildingfeaturesnine-footceilings,fullheightwindows,and a generous 4.5 per 1,000-square-foot parking ratio. Thepropertyiscurrently92percentleased to 12 tenants.
“Weacquiredthepropertyatanattractivebasisandbelieve that the significant rental rate discount relative to the surrounding inventory will create a distinct competitive advantage,”saidShep Dinos,apartnerwithAPG. “The asset also allows us to further diversify geographically and offer space in the desirable North Fulton submarket.”
Atlanta Property Group plans to invest more than$300,000 into common area renovations to increase the aesthetic appeal of thebuilding during its first year of ownership. Additionally, APG will invest more than $600,000 on systems upgrades.
“One Point Royalis a good fit for Atlanta Property Group’s portfolio ofwell-located properties that offer qualityofficespaceforvalue-conscioustenants,” saidAustinChase,directorofleasingatAPG.“The location provides great access for tenants and is just 1.5 miles from Avalon as well as Northpoint Mall, offering an exceptionally large amenity base in the immediate area.”
Samir IdrisofCushman & Wakefieldrepresentedthesellerinthetransaction.
AboutAtlantaPropertyGroup
Atlanta Property Group is a real estate investment firm that focuses exclusively on
owning and operating office buildings in the southeast. APG has executed more than $1billion of principal transactions since being founded in 2003 by partners Jonathan Rodbell and Court Thomas. The firm’s portfolio totals 3.8 million square feet in 18assets, each offering a great location, functional space and relationship-driven service.
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