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Charlotte-based Grubb Properties recently announced its first Atlanta-area office investment – a $32.65-million purchase of three mid-rise buildings in the Central Perimeter office park.
The buildings of The Park at Perimeter Center East total 284,500 square feet on a 19.5-acre site just north of I-285. Grubb will spend approximately $5.2 million to lower tenants’ energy costs and make other major capital improvements.
Grubb Properties has previously invested in the Atlanta multifamily market, but SVP Jonathan Nance recently expressed Grubb’s excitement over its first Atlanta office market investment, with its “unrivaled location, nearby amenities and resurgence of mixed-use for new office development.”
– Sarah Funderburk, SPR Atlanta