Ackerman & Co. Sells 334,675 SF Office Park in South Atlanta for $22M

ATLANTA — Ackerman & Co. has sold nine buildings within Phoenix Office Park in South Atlanta for $22 million. Stewart Calhoun, Samir Idris and David Meline of Cushman & Wakefield represented Ackerman & Co. in the transaction. WePartner, an Atlanta-based firm, purchased the assets, which total 334,675 square feet. The properties included in the portfolio were Two Crown Center, located at 1745 Phoenix Blvd.; four buildings located at 1800 Phoenix Blvd.; South Pointe located at 1691 Phoenix Blvd.; 1640 Phoenix Blvd.; and 1680 Phoenix Blvd. Ackerman & Co. originally acquired the 100-acre, 11-building Phoenix Office Park in 2005 and invested in capital improvements. The properties that sold to WePartner were the remaining assets in the portfolio. Located within the Airport South Community Improvement District (CID), the office park is roughly three miles from Hartsfield-Jackson Atlanta International Airport. At the time of sale, the portfolio was 86 percent leased to tenants including LogistiCare, the State of Georgia and the U.S. Department of Veterans Affairs.