PARMENTER SELLS GWINNETT COMMERCE CENTER FOR $20.5 MILLION

DULUTH, GA. — Parmenter Realty Partners has sold the 10-story Gwinnett Commerce Center, a 213,563-square-foot, Class A office building in Duluth. The purchase price was $20.5 million, according to DataBank, an Atlanta-based provider of commercial real estate data. A joint venture between Biscayne Atlantic, Red Starr Investments and PointOne Holdings purchased the property, which is located approximately 22 miles northeast of downtown Atlanta. Gwinnett Commerce Center features a parking deck attached to the lobby by a covered walkway, a full-service cafe, conference facility, on-site management and 24/7 security. David Meline, Stewart Calhoun and Samir Idris with Cushman & Wakefield's Atlanta capital markets group represented the Miami-based seller in the transaction. Mike Ryan and Brian Linnihan with Cushman & Wakefield's equity, debt and structured finance group arranged acquisition financing on behalf of the buyer. The buyer has also selected Cushman & Wakefield to serve as the leasing agent and property manager for the building. Andy Sumlin and Aileen Almassy with the company's Atlanta office will lead the leasing efforts.