Praelium Commercial Real Estate, South Street Partners Purchase Office Park in Metro Atlanta for $54M

MARIETTA, GA. — A joint venture between Praelium Commercial Real Estate and South Street Partners has acquired Newmarket Business Park, a six-building, 471,486-square-foot office park in Marietta, a suburb of Atlanta. The sales price was not disclosed, but the Atlanta Business Chronicle reports the asset sold for $54 million. The joint venture plans to rebrand the property and market the remaining vacant space to stabilize the asset above 90 percent occupancy. Mark Strauss of Walker & Dunlop arranged acquisition financing through ACORE Capital. Colliers International represented the undisclosed seller in the transaction and will handle office leasing and management on behalf of the joint venture. Newmarket Business Park was 85 leased at the time of sale, with The Home Depot occupying 66 percent of the park.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News

Webinars on Demand


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties