SANDY SPRINGS, GA. — Atlanta-based Third & Urban has purchased Northridge Commons, a seven-building industrial flex campus in Sandy Springs, a northern suburb of Atlanta. The 470,000-square-foot property is located at 8601 Dunwoody Place near Ga. Highway 400. Dilweg sold the campus for an undisclosed price.
Will Yowell of CBRE’s National Office Partners team in Atlanta represented the seller in the transaction. Mike Ryan, Brian Linnihan and J.P. Cordeiro of CBRE Capital Markets’ Debt & Structured Finance team arranged $48.5 million in acquisition financing for Third & Urban.
Northridge Commons was 83 percent leased at the time of sale to a variety of office, flex and warehouse occupiers, including Inspire Brands and Invitation Homes, a subsidiary of Blackstone. Third & Urban says it will reposition some of the office spaces to attract more flex industrial users.