Glenfield Capital, a real estate investment company, today announced the acquisition of 4800 North Point Parkway, an Atlanta office property, for $5.9 million. Glenfield Capital partnered with a Trigate Capital to acquire the property. Bank of North Georgia provided debt.
“We are very pleased to have closed our first office acquisition in the North Fulton submarket of Atlanta,” said James. P. Cate, managing principal of Glenfield Capital. “We believe that a combination of improving demand and the lack of any development in the market, will lead to rental growth over the next several years.”
4800 North Point Parkway is a 75,304 square foot Class A office building located in the highly affluent North Fulton submarket of Atlanta. The building is 77% leased to two corporate tenants, including Siemens.
Jones Lang LaSalle has been retained to lease the building and Resource Real Estate Partners will provide property management services.
Glenfield Capital is seeking additional office, flex and industrial acquisitions throughout the Southeast.